Sumitomo Mitsui DS Asset Management Company Ltd Acquires 264 Shares of Marathon Petroleum Co. (NYSE:MPC)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,791 shares of the oil and gas company’s stock after buying an additional 264 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Marathon Petroleum were worth $6,157,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Global Assets Advisory LLC purchased a new stake in Marathon Petroleum during the first quarter valued at approximately $36,823,000. Founders Financial Securities LLC lifted its position in Marathon Petroleum by 22.8% in the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after buying an additional 924 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in Marathon Petroleum by 3.2% during the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after buying an additional 94 shares during the period. LRI Investments LLC bought a new position in Marathon Petroleum during the first quarter valued at $97,000. Finally, Magnolia Capital Advisors LLC raised its stake in shares of Marathon Petroleum by 353.4% in the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after acquiring an additional 43,639 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

Shares of MPC opened at $158.30 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The company has a 50 day moving average price of $167.72 and a 200-day moving average price of $175.65. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The stock has a market capitalization of $55.77 billion, a PE ratio of 7.91, a PEG ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same quarter in the prior year, the business earned $5.32 earnings per share. Marathon Petroleum’s revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Marathon Petroleum Co. will post 10.22 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 2.08%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Wall Street Analyst Weigh In

MPC has been the topic of several analyst reports. Jefferies Financial Group upped their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a report on Monday, July 15th. Bank of America started coverage on Marathon Petroleum in a research note on Thursday. They set a “neutral” rating and a $174.00 target price on the stock. Piper Sandler cut their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Morgan Stanley lowered their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy 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 $187.00.

Marathon Petroleum Company Profile

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.