Nissay Asset Management Corp Japan ADV Cuts Position in Marathon Petroleum Co. (NYSE:MPC)
Nissay Asset Management Corp Japan ADV trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC — Free Report) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 41,388 shares of the oil and gas company’s stock after selling 3,232 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Marathon Petroleum were worth $5,615,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth $27,000. Asset Planning Inc purchased a new stake in Marathon Petroleum during the 4th quarter valued at about $28,000. Sierra Ocean LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at about $31,000. Cape Investment Advisory Inc. raised its holdings in Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after buying an additional 267 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $44,000. 76.77% of the stock is owned by institutional investors.
Insider Activity at Marathon Petroleum
In other Marathon Petroleum news, insider Ricky D. Hessling acquired 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now directly owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. The trade was a 19.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Evan Bayh bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, with a total value of $133,700.00. Following the transaction, the director now directly owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This represents a 1.46% increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by corporate insiders.
Marathon Petroleum Stock Performance
Shares of NYSE MPC opened at $165.47 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $183.31. The firm has a market capitalization of $50.83 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. The firm has a 50 day moving average of $139.17 and a 200 day moving average of $145.43.
Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 EPS. On average, research analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.
Marathon Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.20%. Marathon Petroleum’s payout ratio is currently 51.20%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on MPC shares. Mizuho boosted their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on Marathon Petroleum from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Barclays lifted their price objective on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Scotiabank lowered their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.29.
Read Our Latest Analysis on Marathon Petroleum
Marathon Petroleum 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.
Further Reading
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