Savvy Advisors Inc. Invests $225,000 in Marathon Petroleum Co. (NYSE:MPC)

Savvy Advisors Inc. bought a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,379 shares of the oil and gas company’s stock, valued at approximately $225,000.

Other hedge funds also recently bought and sold shares of the company. Platform Technology Partners acquired a new stake in shares of Marathon Petroleum during the third quarter valued at $226,000. GSA Capital Partners LLP acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth about $1,820,000. Versor Investments LP raised its position in shares of Marathon Petroleum by 803.8% in the third quarter. Versor Investments LP now owns 13,240 shares of the oil and gas company’s stock valued at $2,157,000 after buying an additional 11,775 shares during the last quarter. United Capital Management of KS Inc. lifted its stake in shares of Marathon Petroleum by 3.8% during the third quarter. United Capital Management of KS Inc. now owns 40,414 shares of the oil and gas company’s stock valued at $6,584,000 after buying an additional 1,484 shares during the period. Finally, Kennebec Savings Bank acquired a new stake in Marathon Petroleum during the third quarter worth approximately $296,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Morgan Stanley decreased 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. BMO Capital Markets dropped their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Citigroup decreased their target price 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. Finally, Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $185.07.

Marathon Petroleum Trading Up 2.5 %

NYSE:MPC opened at $159.11 on Thursday. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. The business’s 50-day moving average is $159.69 and its two-hundred day moving average is $168.87. 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 firm has a market capitalization of $51.14 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 2.75 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its quarterly 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 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 analyst estimates of $34.34 billion. During the same period in the previous year, the company posted $8.14 EPS. Marathon Petroleum’s revenue for the quarter was down 14.9% on a year-over-year basis. Research analysts predict that Marathon Petroleum Co. will post 9.41 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 5th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.29%. Marathon Petroleum’s payout ratio is 26.15%.

Marathon Petroleum Company 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.