Meiji Yasuda Asset Management Co Ltd. Invests $2.47 Million in Marathon Petroleum Corporation $MPC

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 9,674 shares of the oil and gas company’s stock, valued at approximately $2,473,000.

A number of other institutional investors have also added to or reduced their stakes in MPC. Bell Investment Advisors Inc bought a new stake in Marathon Petroleum during the second quarter worth $27,000. Navalign LLC bought a new position in shares of Marathon Petroleum in the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth about $31,000. Berbice Capital Management LLC increased its stake in shares of Marathon Petroleum by 100.0% during the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at about $33,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MPC shares. Morgan Stanley lifted their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Raymond James Financial upped their price objective on Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. UBS Group reiterated a “buy” rating and set a $321.00 target price on shares of Marathon Petroleum in a research note on Friday, July 10th. Citigroup boosted their target price on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, TD Cowen increased their price target on Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $312.50.

Marathon Petroleum Stock Performance

MPC opened at $362.34 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $367.60. The firm has a market cap of $105.78 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The business’s fifty day moving average is $299.48 and its 200-day moving average is $256.01.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.Marathon Petroleum’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.96 earnings per share. Sell-side analysts expect that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is 13.75%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the transaction, the insider directly owned 30,334 shares in the company, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 26,032 shares of company stock valued at $8,744,213. Company insiders own 0.17% of the company’s stock.

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.