Marathon Petroleum Corp (NYSE:MPC) Shares Acquired by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lifted its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 3.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,875 shares of the oil and gas company’s stock after buying an additional 1,419 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Marathon Petroleum were worth $2,284,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in shares of Marathon Petroleum by 13.9% during the first quarter. Nordea Investment Management AB now owns 352,470 shares of the oil and gas company’s stock worth $21,096,000 after buying an additional 42,946 shares in the last quarter. Carderock Capital Management Inc. grew its position in shares of Marathon Petroleum by 1.4% during the second quarter. Carderock Capital Management Inc. now owns 41,462 shares of the oil and gas company’s stock worth $2,317,000 after buying an additional 588 shares in the last quarter. Gulf International Bank UK Ltd grew its position in shares of Marathon Petroleum by 1.2% during the second quarter. Gulf International Bank UK Ltd now owns 162,763 shares of the oil and gas company’s stock worth $9,095,000 after buying an additional 1,929 shares in the last quarter. Horizon Investments LLC purchased a new stake in Marathon Petroleum during the first quarter worth approximately $3,206,000. Finally, Toronto Dominion Bank lifted its stake in Marathon Petroleum by 108.3% during the first quarter. Toronto Dominion Bank now owns 819,141 shares of the oil and gas company’s stock worth $49,019,000 after purchasing an additional 425,808 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

NYSE MPC traded down $1.74 on Wednesday, reaching $47.85. The stock had a trading volume of 3,380,222 shares, compared to its average volume of 4,736,656. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 1.20. Marathon Petroleum Corp has a 12-month low of $45.47 and a 12-month high of $88.45. The company’s 50-day moving average is $54.48. The firm has a market capitalization of $32.86 billion, a PE ratio of 7.06, a P/E/G ratio of 1.54 and a beta of 1.68.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.40. Marathon Petroleum had a return on equity of 10.07% and a net margin of 2.36%. The company had revenue of $33.70 billion during the quarter, compared to analysts’ expectations of $33.26 billion. During the same quarter in the previous year, the business earned $2.27 earnings per share. The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Petroleum Corp will post 4.32 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Tuesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 31.27%.

In other news, insider Donald C. Templin acquired 5,000 shares of Marathon Petroleum stock in a transaction on Wednesday, May 15th. The stock was bought at an average price of $50.74 per share, for a total transaction of $253,700.00. Following the completion of the purchase, the insider now owns 93,182 shares in the company, valued at $4,728,054.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Rohr acquired 12,500 shares of Marathon Petroleum stock in a transaction on Tuesday, June 11th. The stock was purchased at an average price of $48.14 per share, with a total value of $601,750.00. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by insiders.

Several equities research analysts recently weighed in on MPC shares. Cowen cut Marathon Petroleum from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $90.00 to $65.00 in a research note on Friday, May 10th. Zacks Investment Research cut Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, May 17th. Raymond James boosted their target price on Marathon Petroleum from $72.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. ValuEngine upgraded Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 22nd. Finally, Royal Bank of Canada decreased their target price on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $82.62.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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