Marathon Petroleum Corporation (MPC) Shares Bought by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD grew its stake in Marathon Petroleum Corporation (NYSE:MPC) by 39.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,510 shares of the oil and gas company’s stock after acquiring an additional 16,596 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Marathon Petroleum Corporation were worth $3,281,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Blue Chip Partners Inc. purchased a new stake in shares of Marathon Petroleum Corporation in the 2nd quarter worth approximately $100,000. Lee Financial Co lifted its position in shares of Marathon Petroleum Corporation by 2.4% in the 2nd quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 48 shares during the period. Crow Point Partners LLC purchased a new stake in shares of Marathon Petroleum Corporation in the 3rd quarter worth approximately $128,000. Jacobi Capital Management LLC lifted its position in shares of Marathon Petroleum Corporation by 32.2% in the 1st quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after purchasing an additional 570 shares during the period. Finally, First Interstate Bank lifted its position in shares of Marathon Petroleum Corporation by 81.1% in the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock worth $124,000 after purchasing an additional 1,064 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

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In other news, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.05% of the stock is currently owned by insiders.

Several equities research analysts have recently weighed in on MPC shares. BidaskClub raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Scotiabank set a $55.00 price target on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 11th. Credit Suisse Group reaffirmed a “buy” rating and issued a $64.00 price target on shares of Marathon Petroleum Corporation in a research report on Friday, July 14th. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.83 price target (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.07.

Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.29. The business had revenue of $19.36 billion during the quarter, compared to the consensus estimate of $19.38 billion. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.52%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. Marathon Petroleum Corporation’s dividend payout ratio is presently 49.08%.

Marathon Petroleum Corporation Company Profile

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.

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

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