Marathon Petroleum Corporation $MPC Shares Bought by Norinchukin Bank The

Key Points

• Norinchukin Bank increased its holdings in Marathon Petroleum Corporation by 15.7% in Q1, owning 18,533 shares valued at approximately $2.7 million after the acquisition.
• Marathon Petroleum reported a quarterly earnings per share of $3.96, exceeding analysts' estimates of $3.22, with revenues of $34.1 billion for the quarter.
• The company declared a quarterly dividend of $0.91 per share, representing an annualized dividend yield of 2.1%, to be paid on September 10th.

Norinchukin Bank The lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,533 shares of the oil and gas company's stock after purchasing an additional 2,511 shares during the period. Norinchukin Bank The's holdings in Marathon Petroleum were worth $2,700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Summit Financial LLC lifted its position in Marathon Petroleum by 42.6% in the first quarter. Summit Financial LLC now owns 5,098 shares of the oil and gas company's stock valued at $743,000 after acquiring an additional 1,522 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Marathon Petroleum by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company's stock valued at $535,465,000 after purchasing an additional 769,015 shares during the period. PGIM Custom Harvest LLC acquired a new position in Marathon Petroleum in the first quarter valued at $209,000. Dorsey & Whitney Trust CO LLC increased its stake in Marathon Petroleum by 4.2% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,472 shares of the oil and gas company's stock valued at $652,000 after purchasing an additional 181 shares during the period. Finally, Aspire Growth Partners LLC increased its stake in Marathon Petroleum by 3.1% in the first quarter. Aspire Growth Partners LLC now owns 9,440 shares of the oil and gas company's stock valued at $1,366,000 after purchasing an additional 285 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

MPC stock traded up $4.27 during trading on Wednesday, reaching $177.78. 1,812,893 shares of the company were exchanged, compared to its average volume of 2,607,089. The company has a market cap of $54.05 billion, a P/E ratio of 26.38, a PEG ratio of 3.13 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10. The stock's 50 day moving average price is $169.78 and its 200 day moving average price is $154.84. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm's revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.12 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is 54.01%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group lifted their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Evercore ISI assumed coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price objective on the stock. Wolfe Research lowered shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Piper Sandler lifted their price objective on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of "Hold" and a consensus target price of $185.29.

Insider Activity

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company's stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares in the company, valued at $3,315,200. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

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.