Main Street Financial Solutions LLC Has $376,000 Position in Marathon Petroleum Co. (NYSE:MPC)

Main Street Financial Solutions LLC cut its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,306 shares of the oil and gas company’s stock after selling 111 shares during the period. Main Street Financial Solutions LLC’s holdings in Marathon Petroleum were worth $376,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Founders Financial Securities LLC boosted its holdings in shares of Marathon Petroleum by 22.8% during the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after buying an additional 924 shares during the period. Holistic Planning LLC acquired a new position in shares of Marathon Petroleum during the 3rd quarter worth $912,000. LRI Investments LLC bought a new position in shares of Marathon Petroleum in the first quarter worth about $97,000. Magnolia Capital Advisors LLC boosted its position in Marathon Petroleum by 353.4% in the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after buying an additional 43,639 shares in the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $4,075,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Down 0.6 %

Shares of MPC stock opened at $158.14 on Friday. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The company has a 50-day simple moving average of $159.44 and a two-hundred day simple moving average of $168.80. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a market capitalization of $50.82 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.82 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum’s revenue was down 14.9% on a year-over-year basis. During the same period last year, the business posted $8.14 earnings per share. Research analysts anticipate that Marathon Petroleum Co. will post 9.41 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

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

Marathon Petroleum announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Bank of America started coverage on Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. BMO Capital Markets reduced their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Wolfe Research started coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target for the company. Mizuho reduced their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, TD Cowen dropped their price objective on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $185.07.

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.