318 Shares in Marathon Petroleum Co. (NYSE:MPC) Acquired by Capital Performance Advisors LLP

Capital Performance Advisors LLP acquired a new position in Marathon Petroleum Co. (NYSE:MPC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 318 shares of the oil and gas company’s stock, valued at approximately $52,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in Marathon Petroleum in the first quarter worth approximately $29,000. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum during the third quarter valued at approximately $30,000. TruNorth Capital Management LLC acquired a new position in Marathon Petroleum during the second quarter valued at approximately $35,000. Industrial Alliance Investment Management Inc. acquired a new position in Marathon Petroleum during the second quarter valued at approximately $35,000. Finally, Wellington Shields & Co. LLC acquired a new position in Marathon Petroleum during the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.2 %

Shares of MPC stock opened at $153.75 on Friday. The stock has a market cap of $49.41 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 2.97 and a beta of 1.38. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The stock has a fifty day moving average price of $160.49 and a 200 day moving average price of $169.89. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.90.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (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 firm had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same period in the prior year, the company posted $8.14 earnings per share. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. Analysts predict that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum declared that its board has initiated a stock repurchase program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 2.37%. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is currently 26.15%.

Analyst Ratings Changes

MPC has been the topic of several analyst reports. Wolfe Research initiated coverage on Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target on the stock. Bank of America initiated coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. Mizuho lowered their price target on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. TD Cowen reduced their price objective on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group increased their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.67.

Marathon Petroleum 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.