Asahi Life Asset Management CO. LTD. Takes Position in Marathon Petroleum Corporation $MPC

Asahi Life Asset Management CO. LTD. acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 2,435 shares of the oil and gas company’s stock, valued at approximately $404,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Activest Wealth Management increased its holdings in shares of Marathon Petroleum by 290.2% in the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 119 shares during the period. NewSquare Capital LLC increased its holdings in shares of Marathon Petroleum by 103.1% in the second quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 101 shares during the period. CBIZ Investment Advisory Services LLC increased its holdings in shares of Marathon Petroleum by 1,546.2% in the first 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 during the period. Hughes Financial Services LLC acquired a new position in shares of Marathon Petroleum in the first quarter valued at approximately $32,000. Finally, WPG Advisers LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter worth approximately $32,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MPC shares. UBS Group increased their target price on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Evercore ISI increased their target price on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. BMO Capital Markets increased their target price on Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Finally, Citigroup increased their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.00.

Marathon Petroleum Trading Up 1.3%

Shares of MPC opened at $186.13 on Thursday. The stock’s 50-day moving average is $187.31 and its two-hundred day moving average is $171.26. The stock has a market cap of $56.59 billion, a PE ratio of 19.84, a P/E/G ratio of 3.85 and a beta of 0.90. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.79% and a net margin of 2.13%.The business had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, November 19th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. Marathon Petroleum’s payout ratio is presently 54.01%.

Insider Buying and Selling

In other news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by insiders.

Marathon Petroleum Company 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.