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

Mirae Asset Global Investments Co. Ltd. raised its position in Marathon Petroleum Corporation (NYSE:MPC) by 9.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,712 shares of the oil and gas company’s stock after acquiring an additional 3,619 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Marathon Petroleum were worth $8,425,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Concord Asset Management LLC VA bought a new position in Marathon Petroleum in the second quarter worth about $412,000. Los Angeles Capital Management LLC raised its position in shares of Marathon Petroleum by 459.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock worth $31,556,000 after acquiring an additional 156,019 shares in the last quarter. FSM Wealth Advisors LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $685,000. Generali Asset Management SPA SGR boosted its position in shares of Marathon Petroleum by 36.8% during the third 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 in the last quarter. Finally, First Interstate Bank purchased a new stake in Marathon Petroleum in the third quarter worth $5,050,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

Shares of MPC opened at $176.06 on Friday. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $202.29. The company has a market capitalization of $52.92 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.74. The firm has a 50 day moving average of $177.62 and a 200 day moving average of $180.53. 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 quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.01. The business had revenue of $34.81 billion for 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, equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MPC shares. The Goldman Sachs Group dropped their target price on shares of Marathon Petroleum from $206.00 to $204.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. JPMorgan Chase & Co. decreased their target price on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. Wells Fargo & Company cut their price target on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Barclays lowered their price objective on Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company 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.