Mirae Asset Global Investments Co. Ltd. Buys 3,619 Shares of Marathon Petroleum Corporation $MPC

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 9.0% in the 3rd quarter, Holdings Channel reports. The firm owned 43,712 shares of the oil and gas company’s stock after buying an additional 3,619 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Marathon Petroleum were worth $8,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MPC. Concord Asset Management LLC VA bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at $412,000. Los Angeles Capital Management LLC lifted its holdings in Marathon Petroleum by 459.5% in the second quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock valued at $31,556,000 after acquiring an additional 156,019 shares during the period. FSM Wealth Advisors LLC purchased a new position in Marathon Petroleum in the second quarter worth about $685,000. Generali Asset Management SPA SGR grew its stake in shares of Marathon Petroleum by 36.8% during the 3rd quarter. Generali Asset Management SPA SGR now owns 41,225 shares of the oil and gas company’s stock valued at $7,946,000 after purchasing an additional 11,082 shares during the period. Finally, First Interstate Bank purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $5,050,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

NYSE:MPC opened at $176.06 on Friday. The business’s 50-day simple moving average is $177.62 and its two-hundred day simple moving average is $180.53. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $202.29. The stock has a market cap of $52.92 billion, a PE ratio of 18.77, a P/E/G ratio of 1.80 and a beta of 0.74. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. The firm had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. As a group, analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Analyst Ratings Changes

MPC has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. The Goldman Sachs Group reduced their price objective on Marathon Petroleum from $206.00 to $204.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Scotiabank reaffirmed an “outperform” rating and issued a $174.00 target price on shares of Marathon Petroleum in a report on Friday, January 16th. Finally, Barclays cut their price target on Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $197.19.

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.