Citizens Financial Group Inc. RI Boosts Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Citizens Financial Group Inc. RI increased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,630 shares of the oil and gas company’s stock after acquiring an additional 244 shares during the period. Citizens Financial Group Inc. RI’s holdings in Marathon Petroleum were worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MPC. International Assets Investment Management LLC grew its position in Marathon Petroleum by 19,153.8% during the third 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 acquiring an additional 1,304,372 shares during the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at $219,537,000. ING Groep NV purchased a new position in Marathon Petroleum in the 3rd quarter worth $114,107,000. Assenagon Asset Management S.A. lifted its stake in Marathon Petroleum by 980.3% in the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after purchasing an additional 621,336 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Marathon Petroleum by 64.1% during the second quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock valued at $107,393,000 after buying an additional 241,746 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $159.49 on Friday. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The business has a fifty day moving average of $158.88 and a 200 day moving average of $167.81. 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 $51.26 billion, a P/E ratio of 12.64, a PEG ratio of 2.76 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping 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 company had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter last year, the firm posted $8.14 earnings per share. The firm’s revenue was down 14.9% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Stockholders of record on Wednesday, November 20th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.28%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is 26.15%.

Marathon Petroleum announced that its board has initiated a stock buyback plan 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 buy up to 10% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MPC shares. Wells Fargo & Company lowered their target price on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. TD Cowen cut their target price on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets lowered their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Barclays lowered their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.07.

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.