Mitsubishi UFJ Asset Management Co. Ltd. Purchases 64,849 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 12.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 578,641 shares of the oil and gas company’s stock after purchasing an additional 64,849 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of Marathon Petroleum worth $84,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC lifted its holdings in Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 201 shares during the period. Hughes Financial Services LLC acquired a new position in Marathon Petroleum in the first quarter valued at approximately $32,000. Decker Retirement Planning Inc. lifted its holdings in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 227 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MPC shares. Citigroup upped their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. UBS Group upped their target price on Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. Wells Fargo & Company upped their target price on Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Raymond James Financial reaffirmed an “outperform” rating and set a $200.00 target price (up from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Hold” and an average target price of $185.29.

Read Our Latest Analysis on Marathon Petroleum

Marathon Petroleum Stock Down 0.3%

Shares of NYSE:MPC opened at $160.95 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The business has a fifty day moving average of $169.25 and a two-hundred day moving average of $153.70. The stock has a market cap of $48.93 billion, a P/E ratio of 23.88, a PEG ratio of 2.81 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10.

Marathon Petroleum (NYSE:MPC — Get Free Report) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.12 EPS. On average, research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.3%. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Profile

(Free Report)

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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