CreativeOne Wealth LLC Cuts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

CreativeOne Wealth LLC decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,278 shares of the oil and gas company’s stock after selling 234 shares during the period. CreativeOne Wealth LLC’s holdings in Marathon Petroleum were worth $1,186,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers increased its stake in shares of Marathon Petroleum by 165.0% during the first quarter. Cetera Investment Advisers now owns 104,132 shares of the oil and gas company’s stock worth $20,983,000 after purchasing an additional 64,842 shares in the last quarter. Cetera Advisors LLC increased its stake in Marathon Petroleum by 18.4% during the 1st quarter. Cetera Advisors LLC now owns 19,984 shares of the oil and gas company’s stock worth $4,027,000 after buying an additional 3,108 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Marathon Petroleum during the first quarter valued at approximately $67,000. EverSource Wealth Advisors LLC lifted its position in shares of Marathon Petroleum by 9.7% in the first quarter. EverSource Wealth Advisors LLC now owns 7,104 shares of the oil and gas company’s stock valued at $1,431,000 after acquiring an additional 631 shares in the last quarter. Finally, American Trust acquired a new stake in shares of Marathon Petroleum in the first quarter worth approximately $269,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $156.15 on Friday. The business’s fifty day simple moving average is $157.98 and its 200-day simple moving average is $166.80. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a market cap of $50.18 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 2.70 and a beta of 1.38. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced 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. The company had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum’s revenue was down 14.9% compared to the same quarter last year. During the same quarter last year, the firm posted $8.14 earnings per share. Equities analysts forecast that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given 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 yield of 2.33%. Marathon Petroleum’s payout ratio is presently 28.84%.

Marathon Petroleum declared that its board has approved a stock repurchase 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 purchase up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley reduced their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Mizuho reduced their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Citigroup lowered their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. TD Cowen cut their price objective on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their target price on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.