Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 59.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,335 shares of the oil and gas company’s stock after buying an additional 1,997 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Marathon Petroleum were worth $869,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Gladius Capital Management LP acquired a new position in Marathon Petroleum during the 3rd quarter valued at approximately $26,000. MeadowBrook Investment Advisors LLC boosted its holdings in shares of Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Marathon Petroleum during the third quarter worth about $30,000. Darwin Wealth Management LLC bought a new stake in Marathon Petroleum in the 3rd quarter valued at about $33,000. Finally, TruNorth Capital Management LLC acquired a new position in Marathon Petroleum during the 2nd quarter valued at about $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $157.13 on Wednesday. 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 stock has a market capitalization of $50.50 billion, a P/E ratio of 12.45, a P/E/G ratio of 2.75 and a beta of 1.38. The business has a 50-day moving average of $158.55 and a two-hundred day moving average of $167.11. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS 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 business 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 earnings per share. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. On average, equities research analysts predict that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.32%. Marathon Petroleum’s payout ratio is 28.84%.

Marathon Petroleum announced that its Board of Directors has authorized a share repurchase plan 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 plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MPC. Piper Sandler reduced their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. BMO Capital Markets lowered their price target on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company reduced their price objective on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Barclays lowered their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, Citigroup reduced their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus 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.