111,669 Shares in Marathon Petroleum Co. (NYSE:MPC) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new position in Marathon Petroleum Co. (NYSE:MPC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 111,669 shares of the oil and gas company’s stock, valued at approximately $15,522,000.

Other hedge funds also recently modified their holdings of the company. Benjamin Edwards Inc. bought a new position in Marathon Petroleum in the third quarter valued at approximately $803,000. Royal London Asset Management Ltd. lifted its position in Marathon Petroleum by 1.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 188,934 shares of the oil and gas company’s stock valued at $30,779,000 after acquiring an additional 3,188 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Marathon Petroleum by 29.3% in the 3rd quarter. Quantinno Capital Management LP now owns 23,082 shares of the oil and gas company’s stock worth $3,760,000 after purchasing an additional 5,232 shares during the period. Wellington Management Group LLP increased its holdings in Marathon Petroleum by 342.1% during the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after purchasing an additional 4,328,470 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in shares of Marathon Petroleum by 15.5% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 64,503 shares of the oil and gas company’s stock valued at $10,508,000 after purchasing an additional 8,640 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 5.9 %

Marathon Petroleum stock opened at $121.02 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock has a 50-day simple moving average of $147.41 and a 200 day simple moving average of $150.68. The stock has a market capitalization of $37.70 billion, a P/E ratio of 12.19, a PEG ratio of 3.11 and a beta of 1.04. Marathon Petroleum Co. has a 52 week low of $115.97 and a 52 week high of $219.74.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period in the previous year, the firm earned $3.98 EPS. The firm’s revenue was down 9.1% compared to the same quarter last year. Analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MPC shares. Piper Sandler reduced their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Mizuho decreased their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $183.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, March 21st. TD Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Raymond James reissued a “strong-buy” rating and set a $193.00 price target on shares of Marathon Petroleum in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.29.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling bought 2,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the acquisition, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Evan Bayh purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the purchase, the director now directly owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by company insiders.

About Marathon Petroleum

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.