1,416 Shares in Marathon Petroleum Co. (NYSE:MPC) Bought by BIP Wealth LLC

BIP Wealth LLC bought a new stake in Marathon Petroleum Co. (NYSE:MPC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,416 shares of the oil and gas company’s stock, valued at approximately $231,000.

Other hedge funds have also recently made changes to their positions in the company. Tranquility Partners LLC raised its holdings in Marathon Petroleum by 3.5% in the 3rd quarter. Tranquility Partners LLC now owns 10,107 shares of the oil and gas company’s stock valued at $1,646,000 after buying an additional 345 shares during the last quarter. Joseph Group Capital Management raised its stake in shares of Marathon Petroleum by 23.0% during the third quarter. Joseph Group Capital Management now owns 13,955 shares of the oil and gas company’s stock valued at $2,273,000 after acquiring an additional 2,609 shares during the last quarter. Capital City Trust Co. FL lifted its holdings in shares of Marathon Petroleum by 0.5% during the third quarter. Capital City Trust Co. FL now owns 31,103 shares of the oil and gas company’s stock worth $5,067,000 after purchasing an additional 167 shares during the period. Islay Capital Management LLC grew its stake in shares of Marathon Petroleum by 3.8% in the third quarter. Islay Capital Management LLC now owns 7,284 shares of the oil and gas company’s stock worth $1,187,000 after purchasing an additional 266 shares during the last quarter. Finally, Aljian Capital Management LLC acquired a new stake in Marathon Petroleum in the third quarter valued at $464,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 0.7 %

Shares of Marathon Petroleum stock opened at $158.79 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The stock has a 50 day moving average price of $158.90 and a two-hundred day moving average price of $167.93. The stock has a market capitalization of $51.03 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38.

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 business had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the previous year, the business posted $8.14 EPS. Marathon Petroleum’s quarterly revenue was down 14.9% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum announced 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 purchase up to 10% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $0.91 dividend. This is a boost 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 annualized dividend and a yield of 2.29%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.15%.

Analyst Ratings Changes

A number of equities research analysts have commented on MPC shares. Bank of America started coverage on Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. Morgan Stanley decreased their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. BMO Capital Markets dropped their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Citigroup decreased their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Finally, Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.07.

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.