Sumitomo Mitsui Trust Group Inc. Boosts Stake in Marathon Petroleum Corporation $MPC

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 729,862 shares of the oil and gas company’s stock after buying an additional 2,648 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Marathon Petroleum worth $121,237,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Baker Tilly Wealth Management LLC increased its position in Marathon Petroleum by 2.8% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock worth $370,000 after buying an additional 60 shares during the last quarter. CHICAGO TRUST Co NA grew its stake in shares of Marathon Petroleum by 3.9% during the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock worth $280,000 after acquiring an additional 63 shares during the period. Werba Rubin Papier Wealth Management increased its holdings in Marathon Petroleum by 4.2% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock worth $262,000 after acquiring an additional 64 shares during the last quarter. Sunpointe LLC raised its stake in Marathon Petroleum by 4.1% in the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after acquiring an additional 69 shares during the period. Finally, Wallace Advisory Group LLC lifted its holdings in Marathon Petroleum by 3.4% during the second quarter. Wallace Advisory Group LLC now owns 2,258 shares of the oil and gas company’s stock valued at $375,000 after purchasing an additional 75 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MPC shares. Morgan Stanley lifted their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. UBS Group boosted their target price on shares of Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a report on Friday, September 26th. Citigroup increased their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Dbs Bank upgraded Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Finally, Evercore ISI increased their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.31.

Check Out Our Latest Research Report on Marathon Petroleum

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $196.17 on Friday. The stock has a market cap of $59.64 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 4.11 and a beta of 0.90. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The business has a 50-day simple moving average of $183.52 and a 200 day simple moving average of $167.25. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61.

Marathon Petroleum (NYSE:MPC — Get Free Report) last announced 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 business had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. Marathon Petroleum’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.12 earnings per share. On average, research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

About Marathon Petroleum

(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.

See Also

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC — Free Report).

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