Securian Asset Management Inc. Has $2.67 Million Stake in Marathon Petroleum Corporation $MPC

Securian Asset Management Inc. decreased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,061 shares of the oil and gas company’s stock after selling 644 shares during the quarter. Securian Asset Management Inc.’s holdings in Marathon Petroleum were worth $2,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after purchasing an additional 3,834,501 shares during the period. Boston Partners raised its position in shares of Marathon Petroleum by 58.5% during the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after purchasing an additional 2,011,810 shares during the period. Wellington Management Group LLP raised its position in shares of Marathon Petroleum by 18.7% during the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after purchasing an additional 1,862,674 shares during the period. Nuveen LLC acquired a new stake in shares of Marathon Petroleum during the first quarter worth about $147,122,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Marathon Petroleum by 26.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock worth $535,465,000 after purchasing an additional 769,015 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 1.8%

Shares of Marathon Petroleum stock opened at $182.90 on Wednesday. The business’s 50 day simple moving average is $181.64 and its 200 day simple moving average is $165.71. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61. The firm has a market cap of $55.60 billion, a PE ratio of 27.14, a P/E/G ratio of 2.90 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business’s revenue was down 11.1% compared to the same quarter last year. During the same period last year, the company earned $4.12 earnings per share. On average, analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wolfe Research lowered Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. TD Cowen dropped their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Evercore ISI lifted their target price on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. Raymond James Financial reissued an “outperform” rating and issued a $203.00 target price (up previously from $199.00) on shares of Marathon Petroleum in a research report on Friday. Finally, Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $200.31.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm’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 value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate 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.