1,336 Shares in Marathon Petroleum Co. (NYSE:MPC) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC purchased a new position in shares of Marathon Petroleum Co. (NYSE:MPC) in the third quarter, HoldingsChannel.com reports. The firm purchased 1,336 shares of the oil and gas company’s stock, valued at approximately $218,000.

Several other hedge funds have also recently made changes to their positions in MPC. FSA Wealth Management LLC acquired a new stake in Marathon Petroleum during the third quarter worth approximately $219,000. True Wealth Design LLC boosted its holdings in shares of Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares in the last quarter. Edgestream Partners L.P. grew its position in shares of Marathon Petroleum by 5.2% during the 3rd quarter. Edgestream Partners L.P. now owns 16,497 shares of the oil and gas company’s stock worth $2,688,000 after buying an additional 811 shares during the period. Acropolis Investment Management LLC increased its stake in shares of Marathon Petroleum by 10.1% in the 3rd quarter. Acropolis Investment Management LLC now owns 4,368 shares of the oil and gas company’s stock valued at $712,000 after acquiring an additional 400 shares in the last quarter. Finally, Point72 Europe London LLP acquired a new position in shares of Marathon Petroleum during the 3rd quarter valued at $782,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Up 0.8 %

Shares of Marathon Petroleum stock opened at $157.39 on Tuesday. 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 stock has a market capitalization of $50.58 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.71 and a beta of 1.40. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The stock’s 50-day simple moving average is $157.98 and its 200 day simple moving average is $166.70.

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

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $0.91 dividend. The ex-dividend date is Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.31%. Marathon Petroleum’s payout ratio is 28.84%.

Marathon Petroleum declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MPC shares. TD Cowen decreased their price target on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Morgan Stanley decreased their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company cut their price target on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Bank of America started coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective for the company. Finally, Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.