Daiichi Life Insurance Co. Ltd. acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,525 shares of the oil and gas company's stock, valued at approximately $1,668,000.
Several other hedge funds have also added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB raised its position in shares of Marathon Petroleum by 3.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company's stock worth $329,000 after purchasing an additional 40 shares during the last quarter. Equitable Trust Co. boosted its stake in Marathon Petroleum by 1.6% in the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock worth $644,000 after purchasing an additional 42 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its position in Marathon Petroleum by 0.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company's stock valued at $2,411,000 after purchasing an additional 42 shares during the last quarter. Wellington Grp LLC grew its position in Marathon Petroleum by 9.6% during the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company's stock valued at $126,000 after purchasing an additional 45 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in Marathon Petroleum by 2.2% during the 2nd quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company's stock valued at $539,000 after purchasing an additional 46 shares in the last quarter. 76.77% of the stock is owned by institutional investors.
Marathon Petroleum Trading Up 0.4%
NYSE:MPC opened at $362.18 on Monday. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $367.60. The business has a fifty day moving average price of $297.25 and a 200-day moving average price of $254.78. The firm has a market capitalization of $105.73 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.
Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. The company had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.Marathon Petroleum's quarterly revenue was up 53.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.96 earnings per share. Sell-side analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.
Marathon Petroleum Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum's payout ratio is currently 13.75%.
Analyst Ratings Changes
MPC has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the company a "buy" rating in a research report on Sunday, July 12th. Zacks Research cut Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 17th. Wall Street Zen upgraded Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Finally, Mizuho lifted their target price on Marathon Petroleum from $284.00 to $304.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $312.50.
View Our Latest Research Report on MPC
Insider Buying and Selling
In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.17% of the company's stock.
About Marathon Petroleum
(
Free Report)
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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