Marathon Petroleum Co. (NYSE:MPC) Holdings Lifted by Paloma Partners Management Co

Paloma Partners Management Co lifted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 94.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 39,524 shares of the oil and gas company’s stock after acquiring an additional 19,224 shares during the period. Paloma Partners Management Co’s holdings in Marathon Petroleum were worth $6,439,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in Marathon Petroleum in the 3rd quarter valued at about $218,000. FSA Wealth Management LLC bought a new position in shares of Marathon Petroleum in the third quarter valued at approximately $219,000. True Wealth Design LLC increased its stake in shares of Marathon Petroleum by 672.7% during the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 148 shares during the period. Edgestream Partners L.P. raised its holdings in Marathon Petroleum by 5.2% during the third quarter. Edgestream Partners L.P. now owns 16,497 shares of the oil and gas company’s stock worth $2,688,000 after purchasing an additional 811 shares in the last quarter. Finally, Acropolis Investment Management LLC lifted its position in Marathon Petroleum by 10.1% in the third quarter. Acropolis Investment Management LLC now owns 4,368 shares of the oil and gas company’s stock worth $712,000 after purchasing an additional 400 shares during the period. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Price Performance

Shares of MPC opened at $156.15 on Monday. 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 firm has a market cap of $50.19 billion, a PE ratio of 12.37, a PEG ratio of 2.71 and a beta of 1.38. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11. The firm’s 50 day moving average price is $157.98 and its 200 day moving average price is $166.70.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same period in the prior year, the business posted $8.14 earnings per share. The business’s quarterly revenue was down 14.9% on a year-over-year basis. As a group, research analysts expect that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

Marathon Petroleum declared that its board has approved a share buyback plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business 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 dividend of $0.91 per share. 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%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is presently 28.84%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MPC. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. decreased their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Morgan Stanley reduced their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Finally, Scotiabank reduced their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.07.

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.