Marathon Petroleum Corp (MPC) Shares Sold by Tokio Marine Asset Management Co. Ltd.
Tokio Marine Asset Management Co. Ltd. trimmed its stake in Marathon Petroleum Corp (NYSE:MPC) by 30.9% during the 4th quarter, Holdings Channel reports. The firm owned 3,370 shares of the oil and gas company’s stock after selling 1,504 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Marathon Petroleum were worth $222,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of MPC. Janus Henderson Group PLC increased its position in shares of Marathon Petroleum by 808.8% in the second quarter. Janus Henderson Group PLC now owns 603,168 shares of the oil and gas company’s stock worth $31,565,000 after purchasing an additional 536,795 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in Marathon Petroleum during the second quarter valued at approximately $992,000. Arrowstreet Capital Limited Partnership bought a new position in Marathon Petroleum during the second quarter valued at approximately $8,320,000. Bank of Nova Scotia grew its position in Marathon Petroleum by 7.6% during the second quarter. Bank of Nova Scotia now owns 130,547 shares of the oil and gas company’s stock valued at $6,831,000 after acquiring an additional 9,256 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its position in Marathon Petroleum by 41.8% during the second quarter. Westwood Holdings Group Inc. now owns 82,755 shares of the oil and gas company’s stock valued at $4,331,000 after acquiring an additional 24,400 shares during the last quarter. Institutional investors own 80.78% of the company’s stock.
Marathon Petroleum Corp (NYSE:MPC) opened at $63.84 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64. Marathon Petroleum Corp has a fifty-two week low of $47.78 and a fifty-two week high of $73.53. The stock has a market cap of $31,026.24, a P/E ratio of 16.33, a PEG ratio of 0.88 and a beta of 1.49.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st will be issued a $0.46 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $1.84 annualized dividend and a dividend yield of 2.88%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 23.12%.
In other news, VP C. Michael Palmer sold 17,298 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $64.55, for a total value of $1,116,585.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Raymond L. Brooks sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $62.26, for a total transaction of $809,380.00. Following the completion of the transaction, the vice president now owns 32,205 shares in the company, valued at approximately $2,005,083.30. The disclosure for this sale can be found here. Insiders sold 72,276 shares of company stock worth $4,645,189 in the last 90 days. Company insiders own 1.05% of the company’s stock.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating and set a $81.00 price target on the stock in a research report on Tuesday, January 16th. Royal Bank of Canada reiterated a “buy” rating and set a $89.00 price target on shares of Marathon Petroleum in a research report on Tuesday, January 30th. Scotiabank reiterated a “hold” rating and set a $75.00 price target on shares of Marathon Petroleum in a research report on Wednesday, January 10th. ValuEngine upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Finally, Citigroup reiterated a “buy” rating and set a $79.00 price target on shares of Marathon Petroleum in a research report on Friday, February 2nd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $74.08.
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About Marathon Petroleum
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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