Meiji Yasuda Asset Management Co Ltd. Reduces Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Meiji Yasuda Asset Management Co Ltd. decreased its position in Marathon Petroleum Co. (NYSE:MPC) by 45.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,584 shares of the oil and gas company’s stock after selling 13,857 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Marathon Petroleum were worth $2,877,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MPC. Gryphon Financial Partners LLC raised its position in Marathon Petroleum by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,226 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 1,895 shares during the last quarter. Gladstone Institutional Advisory LLC raised its holdings in shares of Marathon Petroleum by 7.1% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,642 shares of the oil and gas company’s stock valued at $244,000 after acquiring an additional 109 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Marathon Petroleum by 2.2% in the fourth quarter. D.A. Davidson & CO. now owns 27,370 shares of the oil and gas company’s stock worth $4,061,000 after acquiring an additional 589 shares during the period. Corient Private Wealth LLC boosted its holdings in Marathon Petroleum by 124.7% in the fourth quarter. Corient Private Wealth LLC now owns 324,989 shares of the oil and gas company’s stock valued at $48,215,000 after acquiring an additional 180,354 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its position in Marathon Petroleum by 17.9% during the 4th quarter. CreativeOne Wealth LLC now owns 2,826 shares of the oil and gas company’s stock valued at $419,000 after purchasing an additional 430 shares during the period. 76.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Jefferies Financial Group upped their target price on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. JPMorgan Chase & Co. decreased their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Finally, Piper Sandler dropped their price target on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $199.46.

Marathon Petroleum Trading Up 0.5 %

Marathon Petroleum stock opened at $164.67 on Thursday. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11. The company has a market capitalization of $58.02 billion, a price-to-earnings ratio of 8.23, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. The business’s fifty day simple moving average is $169.97 and its two-hundred day simple moving average is $179.93. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.32 EPS. As a group, equities analysts predict that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

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.