Mirae Asset Global Investments Co. Ltd. Sells 2,924 Shares of Marathon Petroleum Corporation (NYSE:MPC)
Mirae Asset Global Investments Co. Ltd. reduced its holdings in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,011 shares of the oil and gas company’s stock after selling 2,924 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Marathon Petroleum were worth $5,333,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $27,000. OFI Invest Asset Management bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $44,000. Capital A Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $52,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $55,000. 76.77% of the stock is currently owned by institutional investors.
Marathon Petroleum Stock Up 2.2%
MPC stock opened at $169.78 on Wednesday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.31. The business has a fifty day moving average price of $157.46 and a 200-day moving average price of $147.67. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The stock has a market capitalization of $52.16 billion, a P/E ratio of 23.88, a P/E/G ratio of 3.26 and a beta of 0.88.
Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The firm had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. During the same quarter in the previous year, the business earned $2.58 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.
Marathon Petroleum Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum’s payout ratio is currently 51.20%.
Analysts Set New Price Targets
MPC has been the topic of several research reports. Mizuho lifted their price target on Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Scotiabank dropped their price target on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Evercore ISI initiated coverage on Marathon Petroleum in a research report on Wednesday, June 18th. They set an “in-line” rating and a $170.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on Marathon Petroleum from $180.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $176.13.
Get Our Latest Stock Analysis on MPC
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.
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