AIA Group Ltd Invests $4.01 Million in Marathon Petroleum Corporation $MPC

Key Points

• AIA Group Ltd opened a new position in Marathon Petroleum during the first quarter, buying 16,425 shares valued at about $4.01 million.
• Marathon Petroleum reported strong quarterly earnings, with EPS of $1.65 beating estimates by a wide margin, while revenue rose 8.5% year over year to $34.2 billion.
• The company continues to attract mixed Wall Street views, but the consensus remains Moderate Buy with an average price target of $283.56; meanwhile, it also paid a $1.00 quarterly dividend and announced an annualized yield of 1.3%.

AIA Group Ltd acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,425 shares of the oil and gas company's stock, valued at approximately $4,011,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Navalign LLC purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Marathon Petroleum in the fourth quarter valued at $31,000. Berbice Capital Management LLC raised its holdings in Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock valued at $33,000 after buying an additional 100 shares during the period. WFA of San Diego LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter worth approximately $33,000. Finally, Ares Financial Consulting LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $312.74 on Monday. The firm's fifty day simple moving average is $262.34 and its 200-day simple moving average is $227.78. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $313.15. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The stock has a market capitalization of $91.30 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 0.42 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. The business's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 35.82 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum's payout ratio is 26.11%.

Insider Transactions at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares of the company's stock, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MPC has been the topic of several research reports. Raymond James Financial increased their price target on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Morgan Stanley raised their price target on Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Zacks Research downgraded Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 17th. Wall Street Zen raised Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 10th. Finally, Piper Sandler increased their price objective on Marathon Petroleum from $197.00 to $228.00 and gave the company a "neutral" rating in a report on Thursday, April 9th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $283.56.

About Marathon Petroleum

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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