Marathon Petroleum Corporation (NYSE:MPC) Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Marathon Petroleum by 3.6% in Q1, bringing its total to 115,686 shares valued at approximately $16.83 million.
• Significant increases in holdings were noted from other institutional investors, including Demars Financial Group which raised its stake by 16,338.3% to over 4 million shares valued at around $582.71 million.
• Marathon Petroleum recently announced a quarterly dividend of $0.91 per share, leading to an annualized dividend of $3.64 with a yield of 2.3% as of the last earnings report.

Resona Asset Management Co. Ltd. raised its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,686 shares of the oil and gas company's stock after buying an additional 4,017 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Marathon Petroleum were worth $16,829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Fourth Dimension Wealth LLC purchased a new stake in Marathon Petroleum in the 4th quarter valued at about $26,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 201 shares in the last quarter. Hughes Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at about $32,000. Decker Retirement Planning Inc. lifted its stake in shares of Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MPC. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Evercore ISI began coverage on Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target on the stock. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, July 11th. UBS Group boosted their price target on Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, Wells Fargo & Company boosted their price target on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $185.29.

Marathon Petroleum Stock Performance

Shares of NYSE MPC traded up $0.09 during trading on Friday, reaching $162.41. The stock had a trading volume of 1,831,442 shares, compared to its average volume of 2,652,624. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. 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 stock has a market cap of $49.38 billion, a PE ratio of 24.10, a P/E/G ratio of 2.94 and a beta of 0.90. The firm's 50 day moving average price is $169.37 and its two-hundred day moving average price is $153.94.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same period in the previous year, the business earned $4.12 EPS. The business's quarterly revenue was down 11.1% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is presently 54.01%.

Insider Buying and Selling

In related news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by 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.