Tokio Marine Asset Management Co. Ltd. Has $1.71 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

Tokio Marine Asset Management Co. Ltd. decreased its holdings in Marathon Petroleum Co. (NYSE:MPC) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,468 shares of the oil and gas company’s stock after selling 421 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Marathon Petroleum were worth $1,705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. WR Wealth Planners LLC increased its position in Marathon Petroleum by 15.2% during the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock worth $75,000 after buying an additional 57 shares during the last quarter. Legacy Advisors LLC boosted its holdings in Marathon Petroleum by 5.0% in the 2nd quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock valued at $215,000 after purchasing an additional 59 shares during the period. Latitude Advisors LLC grew its position in shares of Marathon Petroleum by 3.6% during the 2nd quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock worth $297,000 after purchasing an additional 60 shares in the last quarter. SouthState Corp increased its holdings in shares of Marathon Petroleum by 1.5% during the second quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock worth $715,000 after purchasing an additional 61 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Marathon Petroleum by 0.9% in the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock valued at $1,268,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $158.14 on Friday. The business has a 50 day moving average of $159.44 and a 200-day moving average of $168.80. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The company has a market capitalization of $50.82 billion, a P/E ratio of 12.53, a P/E/G ratio of 2.82 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. During the same period last year, the company earned $8.14 earnings per share. The firm’s revenue was down 14.9% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum Co. will post 9.41 earnings per share for the current year.

Marathon Petroleum declared that its Board of Directors has initiated a stock repurchase program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is presently 26.15%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MPC. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. dropped their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley reduced their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Mizuho dropped their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, BMO Capital Markets reduced their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $185.07.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.