Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Executive Wealth Management LLC

Executive Wealth Management LLC lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 16.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,840 shares of the oil and gas company’s stock after purchasing an additional 259 shares during the period. Executive Wealth Management LLC’s holdings in Marathon Petroleum were worth $300,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Founders Financial Securities LLC increased its position in Marathon Petroleum by 22.8% during the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after purchasing an additional 924 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter valued at approximately $97,000. Magnolia Capital Advisors LLC raised its position in shares of Marathon Petroleum by 353.4% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after buying an additional 43,639 shares during the period. Granite Bay Wealth Management LLC acquired a new position in Marathon Petroleum in the second quarter valued at approximately $4,075,000. Finally, ORG Partners LLC purchased a new position in Marathon Petroleum in the second quarter worth approximately $513,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Down 0.3 %

NYSE MPC opened at $153.60 on Friday. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The firm has a market cap of $49.37 billion, a PE ratio of 12.17, a P/E/G ratio of 2.97 and a beta of 1.38. The firm’s fifty day moving average is $160.49 and its two-hundred day moving average is $169.89. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.23.

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. The business had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.14 earnings per share. Analysts expect that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

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

Marathon Petroleum Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.37%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.15%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Bank of America initiated coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target for the company. Jefferies Financial Group boosted their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Wells Fargo & Company lowered their price objective 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. Finally, Barclays decreased their price target on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have issued 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 presently has an average rating of “Moderate Buy” and an average price target of $185.67.

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.