Prime Capital Investment Advisors LLC Has $4.31 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Prime Capital Investment Advisors LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,453 shares of the oil and gas company’s stock after selling 573 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Marathon Petroleum were worth $4,309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MPC. Raymond James & Associates lifted its position in Marathon Petroleum by 2.6% in the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after acquiring an additional 107,915 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Marathon Petroleum by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after purchasing an additional 31,100 shares during the last quarter. Boston Partners lifted its holdings in shares of Marathon Petroleum by 0.3% in the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock valued at $558,390,000 after purchasing an additional 8,476 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Marathon Petroleum by 8.5% during the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after buying an additional 209,270 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Marathon Petroleum by 7.6% during the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after buying an additional 117,790 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MPC. TD Cowen cut their price objective on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. BMO Capital Markets dropped their target price 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. Morgan Stanley reduced their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Piper Sandler dropped their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.07.

Marathon Petroleum Trading Down 0.6 %

NYSE:MPC opened at $155.19 on Wednesday. The company has a market cap of $49.88 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.76 and a beta of 1.38. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The stock’s fifty day moving average price is $160.06 and its two-hundred day moving average price is $169.17.

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

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 26.15%.

Marathon Petroleum declared that its board has approved a share repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.