True Wealth Design LLC Buys 148 Shares of Marathon Petroleum Co. (NYSE:MPC)

True Wealth Design LLC grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 672.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170 shares of the oil and gas company’s stock after buying an additional 148 shares during the period. True Wealth Design LLC’s holdings in Marathon Petroleum were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MPC. Raymond James & Associates grew its holdings in Marathon Petroleum by 2.6% during the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after purchasing an additional 107,915 shares during the period. Pacer Advisors Inc. boosted its position in shares of Marathon Petroleum by 8.8% during the third quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company’s stock worth $473,353,000 after purchasing an additional 235,795 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Marathon Petroleum by 45.4% in the 3rd quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock valued at $217,560,000 after buying an additional 415,368 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Marathon Petroleum by 19,153.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after buying an additional 1,304,372 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Marathon Petroleum by 6.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,285,248 shares of the oil and gas company’s stock valued at $222,965,000 after buying an additional 72,192 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MPC shares. Barclays cut their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Scotiabank lowered 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 report on Thursday, October 10th. Citigroup dropped their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Finally, Morgan Stanley dropped their price target on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Two 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $185.07.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $157.39 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The company has a fifty day moving average price of $157.98 and a two-hundred day moving average price of $166.70. The stock has a market cap of $50.58 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.71 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.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter in the previous year, the business earned $8.14 earnings per share. The business’s revenue was down 14.9% compared to the same quarter last year. As a group, equities analysts predict that Marathon Petroleum Co. will post 9.59 EPS for the current year.

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 given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.31%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s payout ratio is 28.84%.

Marathon Petroleum announced that its Board of Directors has approved 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 reacquire up to 10% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

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.