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

Resona Asset Management Co. Ltd. reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,175 shares of the oil and gas company’s stock after selling 5,847 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Marathon Petroleum were worth $15,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Alberta Investment Management Corp bought a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $2,891,000. Diversified Trust Co. boosted its stake in shares of Marathon Petroleum by 39.3% in the fourth quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock valued at $2,549,000 after buying an additional 4,419 shares during the period. First Interstate Bank bought a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $5,050,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $1,004,000. Finally, KKM Financial LLC boosted its stake in shares of Marathon Petroleum by 27.6% in the third quarter. KKM Financial LLC now owns 26,202 shares of the oil and gas company’s stock valued at $5,050,000 after buying an additional 5,661 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Wednesday, May 6th. Weiss Ratings cut Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Morgan Stanley upped their target price on Marathon Petroleum from $200.00 to $233.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Jefferies Financial Group upped their target price on Marathon Petroleum from $263.00 to $279.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, Wells Fargo & Company upped their target price on Marathon Petroleum to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $259.44.

Insiders Place Their Bets

In related news, insider Ricky D. Hessling sold 1,626 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $228.18, for a total value of $371,020.68. Following the completion of the sale, the insider directly owned 7,525 shares in the company, valued at $1,717,054.50. This represents a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 4,473 shares of company stock valued at $1,015,428 in the last three months. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE MPC opened at $258.25 on Thursday. The company has a market capitalization of $75.39 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 0.34 and a beta of 0.53. Marathon Petroleum Corporation has a twelve month low of $154.65 and a twelve month high of $264.14. The stock has a fifty day simple moving average of $237.11 and a 200 day simple 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.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.Marathon Petroleum’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.24) earnings per share. Sell-side analysts expect that Marathon Petroleum Corporation will post 29.67 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is presently 26.11%.

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.