Mirae Asset Global Investments Co. Ltd. Has $8.19 Million Stake in Marathon Petroleum Corporation $MPC

Key Points

• Mirae Asset increased its stake in Marathon Petroleum by 15.3% in Q4 to 50,387 shares, valued at about $8.19 million.
• Analysts have been raising targets and ratings recently, leaving Marathon with a consensus rating of “Moderate Buy” and a consensus price target of $237.50 (several firms raised targets into the $228–$270 range).
• Marathon recently beat quarterly estimates with $4.07 EPS (vs. $3.73 expected) and revenue of $32.57B, and pays a quarterly dividend of $1.00 (annualized $4.00, ~1.9% yield).

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 15.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,387 shares of the oil and gas company's stock after purchasing an additional 6,675 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Marathon Petroleum were worth $8,194,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WFA of San Diego LLC acquired a new stake in Marathon Petroleum during the 2nd quarter valued at $33,000. Rialto Wealth Management LLC lifted its holdings in Marathon Petroleum by 721.4% during the 4th quarter. Rialto Wealth Management LLC now owns 230 shares of the oil and gas company's stock worth $37,000 after buying an additional 202 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $38,000. IAG Wealth Partners LLC acquired a new position in Marathon Petroleum during the 3rd quarter worth $39,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in Marathon Petroleum during the 3rd quarter worth $39,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on MPC shares. The Goldman Sachs Group upped their price objective on Marathon Petroleum from $239.00 to $264.00 and gave the stock a "buy" rating in a report on Friday, April 10th. Wall Street Zen raised Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a report on Sunday. Piper Sandler upped their price objective on Marathon Petroleum from $197.00 to $228.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. Raymond James Financial upped their price objective on Marathon Petroleum from $210.00 to $270.00 and gave the stock an "outperform" rating in a report on Wednesday, March 25th. Finally, Scotiabank raised Marathon Petroleum to a "strong-buy" rating in a report on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $237.50.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of the company's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following the completion of the sale, the insider owned 7,525 shares in the company, valued at approximately $1,717,054.50. The trade was a 17.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 4,473 shares of company stock worth $1,015,428. Insiders own 0.17% of the company's stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $214.29 on Tuesday. The firm has a fifty day moving average of $221.51 and a two-hundred day moving average of $197.22. The stock has a market capitalization of $63.11 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.36 and a beta of 0.58. Marathon Petroleum Corporation has a 52 week low of $124.00 and a 52 week high of $255.77. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, beating the consensus estimate of $3.73 by $0.34. The company had revenue of $32.57 billion during the quarter, compared to analysts' expectations of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The business's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. As a group, equities research analysts predict that Marathon Petroleum Corporation will post 21.49 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, February 18th. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Marathon Petroleum's payout ratio is presently 29.96%.

Marathon Petroleum Company Profile

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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