Nippon Life Global Investors Americas Inc. Makes New $25.57 Million Investment in Marathon Petroleum Corporation $MPC

Nippon Life Global Investors Americas Inc. bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, Holdings Channel.com reports. The firm bought 100,020 shares of the oil and gas company’s stock, valued at approximately $25,572,000.

Other large investors have also modified their holdings of the company. Navalign LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Marathon Petroleum in the 4th quarter valued at about $31,000. Berbice Capital Management LLC lifted its position in Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. WFA of San Diego LLC acquired a new position in Marathon Petroleum in the second quarter valued at about $33,000. Finally, Ares Financial Consulting LLC purchased a new position in Marathon Petroleum during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of MPC opened at $355.61 on Monday. Marathon Petroleum Corporation has a fifty-two week low of $160.87 and a fifty-two week high of $360.10. The firm’s 50 day moving average price is $287.31 and its 200 day moving average price is $248.19. The company has a market cap of $103.82 billion, a P/E ratio of 12.22, a PEG ratio of 0.23 and a beta of 0.52. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19.

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

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

Wall Street Analyst Weigh In

MPC has been the subject of a number of recent analyst reports. UBS Group reiterated a “buy” rating and set a $321.00 price target on shares of Marathon Petroleum in a research report on Friday, July 10th. TD Cowen upped their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Barclays increased their price objective on shares of Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Piper Sandler lifted their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Mizuho boosted their target price on Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $312.50.

Insider Activity

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Profile

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.