Marathon Petroleum Corp (MPC) Position Raised by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 8.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,944 shares of the oil and gas company’s stock after purchasing an additional 4,967 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Marathon Petroleum were worth $4,006,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. grew its position in Marathon Petroleum by 36.6% in the fourth quarter. BlackRock Inc. now owns 54,581,132 shares of the oil and gas company’s stock worth $3,220,832,000 after buying an additional 14,619,755 shares during the last quarter. Vanguard Group Inc grew its position in Marathon Petroleum by 0.7% in the third quarter. Vanguard Group Inc now owns 35,373,004 shares of the oil and gas company’s stock worth $2,828,779,000 after buying an additional 255,599 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Marathon Petroleum by 9,095.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,042,197 shares of the oil and gas company’s stock worth $238,000 after buying an additional 13,889,489 shares during the last quarter. Bank of New York Mellon Corp grew its position in Marathon Petroleum by 42.6% in the fourth quarter. Bank of New York Mellon Corp now owns 12,418,710 shares of the oil and gas company’s stock worth $732,828,000 after buying an additional 3,708,740 shares during the last quarter. Finally, Boston Partners grew its position in Marathon Petroleum by 81.9% in the fourth quarter. Boston Partners now owns 12,173,365 shares of the oil and gas company’s stock worth $718,350,000 after buying an additional 5,479,818 shares during the last quarter. 77.93% of the stock is currently owned by hedge funds and other institutional investors.

NYSE MPC traded down $0.46 on Friday, hitting $52.40. 1,985,011 shares of the stock were exchanged, compared to its average volume of 7,335,413. Marathon Petroleum Corp has a 52-week low of $50.19 and a 52-week high of $88.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 1.20. The stock has a market cap of $33.92 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 1.26 and a beta of 1.35.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.10). Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The firm had revenue of $28.62 billion for the quarter, compared to analysts’ expectations of $27.70 billion. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company’s revenue for the quarter was up 50.7% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Corp will post 5.04 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is currently 31.27%.

In related news, insider Donald C. Templin purchased 5,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $50.74 per share, for a total transaction of $253,700.00. Following the acquisition, the insider now directly owns 93,182 shares in the company, valued at approximately $4,728,054.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary R. Heminger sold 187,142 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $65.00, for a total transaction of $12,164,230.00. Following the transaction, the chief executive officer now owns 434,166 shares in the company, valued at $28,220,790. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

Several research firms have issued reports on MPC. Macquarie assumed coverage on shares of Marathon Petroleum in a research report on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 price target on the stock. Raymond James lowered their price objective on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 10th. Citigroup lowered their price objective on shares of Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. ValuEngine cut shares of Marathon Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Finally, Morgan Stanley lowered their price objective on shares of Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $85.68.

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Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.

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

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