Resona Asset Management Co. Ltd. Has $15.17 Million Stake in Marathon Petroleum Corporation $MPC

Key Points

• Resona Asset Management cut its Marathon Petroleum stake by 5.9% in Q4, but still held 93,175 shares valued at about $15.17 million.
• Marathon Petroleum reported strong quarterly earnings, with EPS of $1.65 beating estimates by $0.91 and revenue of $34.20 billion, up 8.5% year over year.
• The company announced a $1.00 quarterly dividend payable June 10, while analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $259.44.

Resona Asset Management Co. Ltd. decreased its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,175 shares of the oil and gas company's stock after selling 5,847 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Marathon Petroleum were worth $15,169,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Partners raised its stake in shares of Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company's stock valued at $1,214,522,000 after purchasing an additional 141,691 shares during the period. Legal & General Group Plc boosted its holdings in shares of Marathon Petroleum by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 1,861,020 shares of the oil and gas company's stock valued at $358,693,000 after buying an additional 35,847 shares during the last quarter. Amundi boosted its holdings in shares of Marathon Petroleum by 11.8% in the 3rd quarter. Amundi now owns 1,626,862 shares of the oil and gas company's stock valued at $314,830,000 after buying an additional 172,172 shares during the last quarter. National Pension Service boosted its holdings in shares of Marathon Petroleum by 1.7% in the 3rd quarter. National Pension Service now owns 849,268 shares of the oil and gas company's stock valued at $163,688,000 after buying an additional 14,308 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Marathon Petroleum by 1.8% in the 3rd quarter. Rhumbline Advisers now owns 669,237 shares of the oil and gas company's stock valued at $128,989,000 after buying an additional 11,948 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,810 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total value of $406,851.80. Following the transaction, the insider owned 10,188 shares of the company's stock, valued at approximately $2,290,058.64. This represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,473 shares of company stock valued at $1,015,428 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Trading Down 1.8%

Shares of NYSE:MPC opened at $258.25 on Thursday. Marathon Petroleum Corporation has a 12-month low of $154.65 and a 12-month high of $264.14. The business has a 50 day moving average of $237.11 and a 200-day moving average of $204.89. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The stock has a market cap of $75.39 billion, a PE ratio of 16.86, a P/E/G ratio of 0.34 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the prior year, the business earned ($0.24) earnings per share. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 29.67 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be given a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. Marathon Petroleum's dividend payout ratio is presently 26.11%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Marathon Petroleum from $263.00 to $279.00 and gave the company a "buy" rating in a report on Monday, April 13th. Wells Fargo & Company boosted their price target on Marathon Petroleum to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Barclays boosted their price target on Marathon Petroleum from $230.00 to $270.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. The Goldman Sachs Group boosted their price target on Marathon Petroleum from $264.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, BMO Capital Markets boosted their price target on Marathon Petroleum from $255.00 to $290.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $259.44.

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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