Metis Global Partners LLC Lowers Position in Marathon Petroleum Co. (NYSE:MPC)

Metis Global Partners LLC cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 5.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,799 shares of the oil and gas company’s stock after selling 875 shares during the quarter. Metis Global Partners LLC’s holdings in Marathon Petroleum were worth $2,411,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in shares of Marathon Petroleum during the first quarter valued at approximately $29,000. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum in the 3rd quarter worth approximately $30,000. TruNorth Capital Management LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $35,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $35,000. Finally, Wellington Shields & Co. LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter valued at $40,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. 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. Morgan Stanley lowered their target price on shares of 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 lowered their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Bank of America initiated coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. Finally, Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $185.07.

Marathon Petroleum Price Performance

Shares of MPC opened at $157.51 on Friday. The company has a 50 day moving average price of $159.23 and a 200-day moving average price of $168.73. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The stock has a market capitalization of $50.62 billion, a PE ratio of 12.48, a PEG ratio of 2.82 and a beta of 1.38. 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 (NYSE:MPC) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. During the same quarter in the prior year, the company earned $8.14 EPS. The company’s revenue was down 14.9% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum Co. will post 9.41 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $0.91 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.31%. Marathon Petroleum’s dividend payout ratio is presently 26.15%.

Marathon Petroleum declared that its board has initiated a share buyback 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 buy up to 10% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.