Accretive Wealth Partners LLC Sells 562 Shares of Marathon Petroleum Co. (NYSE:MPC)

Accretive Wealth Partners LLC lessened its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,737 shares of the oil and gas company’s stock after selling 562 shares during the quarter. Marathon Petroleum makes up 1.1% of Accretive Wealth Partners LLC’s portfolio, making the stock its 19th biggest position. Accretive Wealth Partners LLC’s holdings in Marathon Petroleum were worth $2,727,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Smithfield Trust Co boosted its stake in shares of Marathon Petroleum by 17.7% during the 3rd quarter. Smithfield Trust Co now owns 2,329 shares of the oil and gas company’s stock valued at $379,000 after purchasing an additional 350 shares in the last quarter. Pacer Advisors Inc. boosted its position in Marathon Petroleum by 8.8% during the 3rd quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company’s stock valued at $473,353,000 after acquiring an additional 235,795 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Marathon Petroleum by 4.4% during the 3rd quarter. Intech Investment Management LLC now owns 169,906 shares of the oil and gas company’s stock worth $27,679,000 after acquiring an additional 7,165 shares during the period. Citizens Financial Group Inc. RI raised its position in shares of Marathon Petroleum by 1.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 18,630 shares of the oil and gas company’s stock worth $3,035,000 after acquiring an additional 244 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Scotiabank cut their target price on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Finally, Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $185.07.

Marathon Petroleum Trading Up 0.1 %

Shares of NYSE MPC opened at $159.49 on Friday. The business’s 50 day moving average price is $158.88 and its 200-day moving average price is $167.81. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. 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 cap of $51.26 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.76 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share 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 period last year, the company earned $8.14 earnings per share. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, sell-side analysts expect that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum announced that its board has approved a stock repurchase plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The company 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 a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.28%. Marathon Petroleum’s payout ratio is presently 26.15%.

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.