Mirae Asset Global Investments Co. Ltd. Has $6.66 Million Position in Marathon Petroleum Corporation $MPC

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Marathon Petroleum Corporation by 8.3% in Q2, now owning 40,093 shares valued at $6.66 million.
• Marathon Petroleum reported earnings per share of $3.96, surpassing expectations of $3.22, although its quarterly revenue declined by 11.1% year-over-year.
• The company's recent quarterly dividend was $0.91, yielding an annualized dividend of $3.64 with a payout ratio of 54.01%.

Mirae Asset Global Investments Co. Ltd. grew its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,093 shares of the oil and gas company's stock after purchasing an additional 3,082 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Marathon Petroleum were worth $6,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Good Steward Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum in the first quarter worth about $346,000. Silver Oak Securities Incorporated acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at approximately $339,000. Financial Partners Group LLC grew its position in shares of Marathon Petroleum by 65.8% in the 1st quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock valued at $574,000 after purchasing an additional 1,563 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Marathon Petroleum by 8.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock worth $6,467,000 after purchasing an additional 3,291 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in Marathon Petroleum by 128.0% during the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company's stock worth $1,262,000 after buying an additional 4,863 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

MPC opened at $193.31 on Monday. The business's 50-day simple moving average is $177.02 and its 200 day simple moving average is $162.33. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a market capitalization of $58.77 billion, a PE ratio of 28.68, a PEG ratio of 3.35 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, topping the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business's quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.12 EPS. As a group, sell-side analysts expect 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 given 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 of this dividend was Wednesday, August 20th. Marathon Petroleum's dividend payout ratio (DPR) is 54.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wolfe Research downgraded shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Piper Sandler upped their target price on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. UBS Group lifted their price target on Marathon Petroleum from $203.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Dbs Bank upgraded Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Finally, BMO Capital Markets lifted their target price on Marathon Petroleum from $195.00 to $208.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $196.29.

Insider Transactions at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company's stock.

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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