Asset Management One Co. Ltd. Sells 14,902 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Asset Management One Co. Ltd. reduced its holdings in Marathon Petroleum Corporation by 10.4%, selling 14,902 shares and retaining a total of 127,881 shares worth approximately $21.24 million.
• Marathon Petroleum reported a quarterly earnings per share of $3.96, exceeding analysts' expectations of $3.22, despite an 11.1% year-over-year decline in revenue.
• The firm announced a quarterly dividend of $0.91 per share, resulting in an annualized yield of 1.9% and a dividend payout ratio of 54.01%.

Asset Management One Co. Ltd. trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 10.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 127,881 shares of the oil and gas company's stock after selling 14,902 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Marathon Petroleum were worth $21,242,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MPC. Brighton Jones LLC increased its position in Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after acquiring an additional 1,178 shares during the period. GAMMA Investing LLC increased its position in Marathon Petroleum by 3.4% during the first quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company's stock worth $1,541,000 after acquiring an additional 351 shares during the period. Golden State Wealth Management LLC increased its position in Marathon Petroleum by 140.7% during the first quarter. Golden State Wealth Management LLC now owns 1,483 shares of the oil and gas company's stock worth $216,000 after acquiring an additional 867 shares during the period. Sequoia Financial Advisors LLC increased its position in Marathon Petroleum by 3.6% during the first quarter. Sequoia Financial Advisors LLC now owns 17,153 shares of the oil and gas company's stock worth $2,499,000 after acquiring an additional 599 shares during the period. Finally, PDS Planning Inc increased its position in Marathon Petroleum by 11.1% during the first quarter. PDS Planning Inc now owns 2,784 shares of the oil and gas company's stock worth $406,000 after acquiring an additional 279 shares during the period. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Up 0.1%

MPC opened at $196.17 on Friday. The company's 50 day moving average is $183.52 and its 200-day moving average is $167.25. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The company has a market cap of $59.64 billion, a P/E ratio of 29.10, a PEG ratio of 4.11 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same period last year, the company posted $4.12 EPS. The firm's quarterly revenue was down 11.1% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 1.9%. Marathon Petroleum's dividend payout ratio (DPR) is currently 54.01%.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MPC shares. Raymond James Financial reissued an "outperform" rating and issued a $203.00 target price (up from $199.00) on shares of Marathon Petroleum in a report on Friday, October 17th. BMO Capital Markets raised their target price on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Mizuho raised their target price on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, September 15th. Finally, UBS Group raised 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $200.31.

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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