Asset Management One Co. Ltd. Sells 12,149 Shares of Marathon Petroleum Co. (NYSE:MPC)

Asset Management One Co. Ltd. trimmed its holdings in Marathon Petroleum Co. (NYSE:MPCGet Rating) by 4.8% in the 3rd quarter, Holdings Channel reports. The fund owned 239,820 shares of the oil and gas company’s stock after selling 12,149 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Marathon Petroleum were worth $23,821,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mission Wealth Management LP raised its position in Marathon Petroleum by 1.2% in the 3rd quarter. Mission Wealth Management LP now owns 8,153 shares of the oil and gas company’s stock valued at $810,000 after buying an additional 98 shares during the last quarter. MBM Wealth Consultants LLC increased its holdings in Marathon Petroleum by 41.3% in the 3rd quarter. MBM Wealth Consultants LLC now owns 342 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 100 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Marathon Petroleum by 0.3% in the third quarter. Daiwa Securities Group Inc. now owns 36,942 shares of the oil and gas company’s stock valued at $3,669,000 after buying an additional 108 shares during the period. Court Place Advisors LLC raised its stake in Marathon Petroleum by 3.1% in the 2nd quarter. Court Place Advisors LLC now owns 3,639 shares of the oil and gas company’s stock valued at $299,000 after acquiring an additional 110 shares during the period. Finally, Marcum Wealth LLC grew its holdings in shares of Marathon Petroleum by 1.8% during the third quarter. Marcum Wealth LLC now owns 6,270 shares of the oil and gas company’s stock worth $623,000 after purchasing an additional 110 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Marathon Petroleum

In related news, CEO Michael J. Hennigan sold 80,149 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $118.73, for a total value of $9,516,090.77. Following the completion of the sale, the chief executive officer now owns 248,596 shares of the company’s stock, valued at $29,515,803.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Marathon Petroleum news, VP Timothy J. Aydt sold 7,477 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $126.54, for a total transaction of $946,139.58. Following the completion of the sale, the vice president now owns 16,762 shares of the company’s stock, valued at $2,121,063.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Hennigan sold 80,149 shares of the firm’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $118.73, for a total value of $9,516,090.77. Following the transaction, the chief executive officer now owns 248,596 shares of the company’s stock, valued at $29,515,803.08. The disclosure for this sale can be found here. Insiders sold 212,070 shares of company stock valued at $25,617,038 over the last quarter. 0.28% of the stock is currently owned by insiders.

Marathon Petroleum Stock Up 2.6 %

Shares of MPC opened at $130.21 on Wednesday. The company has a market capitalization of $61.02 billion, a price-to-earnings ratio of 5.72, a PEG ratio of 0.26 and a beta of 1.59. The stock’s 50-day moving average price is $117.39 and its 200-day moving average price is $106.57. The company has a quick ratio of 1.19, a current ratio of 1.66 and a debt-to-equity ratio of 0.78. Marathon Petroleum Co. has a 52 week low of $68.74 and a 52 week high of $143.28.

Marathon Petroleum (NYSE:MPCGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The oil and gas company reported $7.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.80 by $1.01. Marathon Petroleum had a return on equity of 34.82% and a net margin of 6.82%. The company had revenue of $47.24 billion for the quarter, compared to the consensus estimate of $35.67 billion. On average, sell-side analysts predict that Marathon Petroleum Co. will post 25.11 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Wednesday, November 16th were issued a dividend of $0.75 per share. The ex-dividend date was Tuesday, November 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.58. Marathon Petroleum’s dividend payout ratio is presently 13.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MPC shares. Wells Fargo & Company increased their price objective on Marathon Petroleum from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, January 5th. Mizuho restated a “neutral” rating and set a $133.00 price target (up from $125.00) on shares of Marathon Petroleum in a report on Tuesday, January 10th. Raymond James raised their price target on Marathon Petroleum from $150.00 to $155.00 and gave the company a “strong-buy” rating in a report on Friday, January 13th. Barclays increased their price objective on Marathon Petroleum from $126.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Finally, Jefferies Financial Group began coverage on Marathon Petroleum in a research note on Wednesday, October 19th. They issued a “hold” rating and a $119.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.00.

About Marathon Petroleum

(Get Rating)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

See Also

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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