Tokio Marine Asset Management Co. Ltd. Grows Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,787 shares of the oil and gas company’s stock after buying an additional 319 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Marathon Petroleum were worth $1,505,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Gladius Capital Management LP bought a new stake in Marathon Petroleum in the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC grew its holdings in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC grew its holdings in Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Marathon Petroleum in the 3rd quarter valued at about $30,000. Finally, Darwin Wealth Management LLC purchased a new stake in Marathon Petroleum in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Raymond James boosted their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday, January 17th. Mizuho decreased their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Bank of America assumed coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price for the company. Citigroup decreased their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Finally, TD Cowen restated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $181.20.

Marathon Petroleum Price Performance

Shares of MPC opened at $147.17 on Tuesday. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11. The stock has a market cap of $47.30 billion, a PE ratio of 11.66, a P/E/G ratio of 2.77 and a beta of 1.41. The firm has a 50-day simple moving average of $146.26 and a two-hundred day simple moving average of $157.96. 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 (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The firm had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.14 earnings per share. As a group, analysts forecast that Marathon Petroleum Co. will post 8.88 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 28.84%.

Marathon Petroleum announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by insiders.

About Marathon Petroleum

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.