Lingohr Asset Management GmbH Lowers Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Lingohr Asset Management GmbH lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,050 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Lingohr Asset Management GmbH’s holdings in Marathon Petroleum were worth $660,000 as of its most recent SEC filing.

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 worth $26,000. MeadowBrook Investment Advisors LLC grew its position 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 worth $28,000 after buying an additional 80 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum during the first quarter worth approximately $29,000. Harbor Capital Advisors Inc. acquired a new stake in Marathon Petroleum in the third quarter valued at approximately $30,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC opened at $159.98 on Tuesday. The company has a 50 day moving average of $159.00 and a two-hundred day moving average of $168.10. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The company has a market cap of $51.42 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.74 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same period last year, the company posted $8.14 earnings per share. The firm’s revenue was down 14.9% compared to the same quarter last year. On average, analysts expect that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum declared that its Board of Directors has approved a share repurchase program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The company 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 dividend of $0.91 per share. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.28%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.15%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. TD Cowen decreased their price objective on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Bank of America started coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price for the company. Finally, Mizuho cut their price target on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.