Transamerica Financial Advisors Inc. Purchases 161 Shares of Marathon Petroleum Co. (NYSE:MPC)

Transamerica Financial Advisors Inc. grew its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 11.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,555 shares of the oil and gas company’s stock after acquiring an additional 161 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Marathon Petroleum were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MPC. Gladius Capital Management LP bought a new stake in Marathon Petroleum in the third quarter worth $26,000. MeadowBrook Investment Advisors LLC lifted its position in Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 80 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum in the third quarter worth $30,000. Darwin Wealth Management LLC purchased a new stake in Marathon Petroleum in the third quarter worth $33,000. Finally, TruNorth Capital Management LLC purchased a new stake in Marathon Petroleum in the second quarter worth $35,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $157.13 on Wednesday. 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 $50.50 billion, a PE ratio of 12.45, a P/E/G ratio of 2.72 and a beta of 1.38. The business has a 50-day simple moving average of $158.55 and a two-hundred day simple moving average of $167.11. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly 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. The business 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%. The company’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter last year, the company earned $8.14 earnings per share. As a group, equities analysts expect that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

Marathon Petroleum announced that its board has approved a share buyback program 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 buy up to 10% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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 is an increase 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 2.32%. Marathon Petroleum’s payout ratio is 28.84%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MPC shares. Mizuho reduced their target price on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. 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 research note on Friday, October 4th. Piper Sandler cut their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Finally, Tudor, Pickering, Holt & Co. lowered Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.