711,745 Shares in Marathon Petroleum Corporation $MPC Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 711,745 shares of the oil and gas company’s stock, valued at approximately $181,972,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.24% of Marathon Petroleum at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Bell Investment Advisors Inc bought a new stake in Marathon Petroleum during the second quarter worth about $27,000. Navalign LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $31,000. Berbice Capital Management LLC lifted its holdings in shares of Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Finally, WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $33,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $359.78 on Tuesday. The company has a market cap of $105.03 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 0.23 and a beta of 0.52. The business’s fifty day simple moving average is $289.19 and its two-hundred day simple moving average is $249.51. Marathon Petroleum Corporation has a 12 month low of $160.87 and a 12 month high of $363.34. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company’s revenue was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 earnings per share. Research analysts anticipate that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum’s payout ratio is 13.75%.

Insider Activity

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MPC shares. Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Bank of America increased their target price on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. UBS Group reaffirmed a “buy” rating and issued a $321.00 price target on shares of Marathon Petroleum in a research report on Friday, July 10th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Finally, Evercore set a $330.00 price objective on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.50.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.