Nippon Life Global Investors Americas Inc. boosted its stake in Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 11.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,200 shares of the oil and gas company’s stock after buying an additional 13,550 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Marathon Petroleum were worth $8,650,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of MPC. Capital Wealth Planning LLC purchased a new stake in Marathon Petroleum in the fourth quarter worth about $140,222,000. Natixis increased its stake in shares of Marathon Petroleum by 834.6% during the third quarter. Natixis now owns 1,422,016 shares of the oil and gas company’s stock valued at $87,895,000 after purchasing an additional 1,269,869 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Marathon Petroleum by 181.6% during the third quarter. Hsbc Holdings PLC now owns 1,513,321 shares of the oil and gas company’s stock valued at $93,541,000 after purchasing an additional 975,983 shares in the last quarter. TOMS Capital Investment Management LP bought a new position in shares of Marathon Petroleum during the third quarter valued at approximately $53,754,000. Finally, Franklin Resources Inc. increased its stake in shares of Marathon Petroleum by 6.8% during the third quarter. Franklin Resources Inc. now owns 11,826,303 shares of the oil and gas company’s stock valued at $730,983,000 after purchasing an additional 756,958 shares in the last quarter. Institutional investors and hedge funds own 80.91% of the company’s stock.
MPC has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of Marathon Petroleum from $91.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, April 21st. StockNews.com assumed coverage on shares of Marathon Petroleum in a report on Thursday, March 31st. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Marathon Petroleum from $95.00 to $109.00 in a report on Tuesday, May 17th. Credit Suisse Group boosted their target price on shares of Marathon Petroleum from $100.00 to $110.00 in a report on Wednesday, May 4th. Finally, Cowen upped their price target on shares of Marathon Petroleum from $83.00 to $90.00 in a report on Thursday, February 3rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $98.85.
Marathon Petroleum (NYSE:MPC – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The oil and gas company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.10. The business had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $32.46 billion. Marathon Petroleum had a net margin of 7.93% and a return on equity of 7.60%. The business’s revenue for the quarter was up 67.7% on a year-over-year basis. During the same period last year, the business earned ($0.20) earnings per share. Equities analysts anticipate that Marathon Petroleum Co. will post 10.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Wednesday, May 18th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, May 17th. This represents a $2.32 dividend on an annualized basis and a yield of 2.40%. Marathon Petroleum’s dividend payout ratio is currently 13.77%.
In other news, Director Kim K.W. Rucker sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $79.75, for a total transaction of $398,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.28% of the stock is owned by insiders.
Marathon Petroleum Profile (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.
- Get a free copy of the StockNews.com research report on Marathon Petroleum (MPC)
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