Mirae Asset Global Investments Co. Ltd. Acquires New Stake in Marathon Petroleum Corporation $MPC

Mirae Asset Global Investments Co. Ltd. bought a new position in Marathon Petroleum Corporation (NYSE:MPC) in the third quarter, HoldingsChannel reports. The firm bought 81,542 shares of the oil and gas company’s stock, valued at approximately $32,243,000.

Several other large investors have also recently modified their holdings of the stock. ProShare Advisors LLC raised its holdings in Marathon Petroleum by 0.3% during the 3rd quarter. ProShare Advisors LLC now owns 55,907 shares of the oil and gas company’s stock valued at $22,107,000 after buying an additional 154 shares during the period. Vise Technologies Inc. boosted its stake in Marathon Petroleum by 16.0% during the third quarter. Vise Technologies Inc. now owns 23,922 shares of the oil and gas company’s stock worth $9,459,000 after buying an additional 3,294 shares during the period. Investment Partners LTD. boosted its stake in Marathon Petroleum by 10.1% during the third quarter. Investment Partners LTD. now owns 1,105 shares of the oil and gas company’s stock worth $437,000 after buying an additional 101 shares during the period. Unison Advisors LLC increased its position in Marathon Petroleum by 0.3% during the third quarter. Unison Advisors LLC now owns 16,436 shares of the oil and gas company’s stock valued at $6,499,000 after acquiring an additional 57 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its position in Marathon Petroleum by 2.0% during the third quarter. Moss Adams Wealth Advisors LLC now owns 1,367 shares of the oil and gas company’s stock valued at $540,000 after acquiring an additional 27 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC opened at $430.08 on Tuesday. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $493.98. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The business’s fifty day simple moving average is $419.16 and its 200-day simple moving average is $291.04. The company has a market capitalization of $125.56 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.12 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the previous year, the company posted $3.96 earnings per share. The firm’s quarterly revenue was up 53.5% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 64.12 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, December 10th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Analyst Ratings Changes

Several research firms have recently issued reports on MPC. The Goldman Sachs Group raised their target price on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a report on Monday, September 21st. TD Cowen upped their price target on shares of Marathon Petroleum from $450.00 to $478.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Weiss Ratings raised shares of Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Mizuho raised their price objective on shares of Marathon Petroleum from $304.00 to $457.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Finally, Wells Fargo & Company boosted their target price on Marathon Petroleum from $400.00 to $560.00 and gave the company an “overweight” rating in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $424.31.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total transaction of $206,790.30. Following the transaction, the vice president directly owned 1,576 shares in the company, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction that occurred on 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 directly owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 21,691 shares of company stock valued at $7,780,127. Company insiders own 0.17% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.