Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 421,082 shares of the oil and gas company’s stock after selling 14,227 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Marathon Petroleum were worth $58,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in shares of Marathon Petroleum by 342.1% in the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after purchasing an additional 4,328,470 shares in the last quarter. Boston Partners raised its stake in Marathon Petroleum by 37.4% in the fourth quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock valued at $480,501,000 after buying an additional 935,042 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Marathon Petroleum by 22.3% during the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock worth $495,595,000 after buying an additional 647,045 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Marathon Petroleum by 212.9% during the 3rd quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock worth $137,945,000 after acquiring an additional 576,119 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Marathon Petroleum by 1,204.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after acquiring an additional 501,441 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Wells Fargo & Company lifted their price target on shares of Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Mizuho decreased their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Piper Sandler cut their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, TD Cowen reissued a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.21.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $148.62 on Wednesday. The firm’s 50-day moving average is $149.06 and its two-hundred day moving average is $151.77. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The stock has a market capitalization of $46.30 billion, a P/E ratio of 14.97, a P/E/G ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.98 EPS. Equities analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Insider Activity

In related news, insider Ricky D. Hessling purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the transaction, the insider now owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the acquisition, the director now owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

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.