Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its position in Marathon Petroleum Co. (NYSE:MPCFree Report) by 19.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 25,108 shares of the oil and gas company’s stock after selling 6,073 shares during the period. Van ECK Associates Corp’s holdings in Marathon Petroleum were worth $3,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. boosted its position in Marathon Petroleum by 7.2% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,060 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 71 shares during the period. Empower Advisory Group LLC boosted its position in Marathon Petroleum by 1.6% during the 3rd quarter. Empower Advisory Group LLC now owns 4,465 shares of the oil and gas company’s stock valued at $676,000 after purchasing an additional 72 shares during the period. Foundations Investment Advisors LLC boosted its position in Marathon Petroleum by 2.6% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,030 shares of the oil and gas company’s stock valued at $459,000 after purchasing an additional 76 shares during the period. Outlook Wealth Advisors LLC boosted its position in Marathon Petroleum by 4.2% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 1,996 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 80 shares during the period. Finally, Gleason Group Inc. boosted its position in Marathon Petroleum by 75.2% during the 3rd quarter. Gleason Group Inc. now owns 191 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Institutional investors and hedge funds own 74.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MPC. Wells Fargo & Company upgraded Marathon Petroleum from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $159.00 to $169.00 in a research report on Thursday, December 14th. Raymond James boosted their price target on Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 31st. Citigroup started coverage on Marathon Petroleum in a research report on Wednesday, January 24th. They set a “neutral” rating for the company. Morgan Stanley boosted their price target on Marathon Petroleum from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 17th. Finally, TD Cowen boosted their price target on Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.00.

Read Our Latest Research Report on MPC

Marathon Petroleum Stock Down 0.6 %

MPC opened at $168.89 on Tuesday. The stock’s fifty day moving average is $155.13 and its 200-day moving average is $150.23. The company has a market capitalization of $64.13 billion, a PE ratio of 7.18, a P/E/G ratio of 1.97 and a beta of 1.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.20 and a current ratio of 1.67. Marathon Petroleum Co. has a one year low of $104.32 and a one year high of $173.32.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $1.77. The company had revenue of $36.26 billion for the quarter, compared to analyst estimates of $34.90 billion. Marathon Petroleum had a return on equity of 30.21% and a net margin of 6.44%. Marathon Petroleum’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.65 earnings per share. On average, equities analysts predict that Marathon Petroleum Co. will post 14.38 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 14.02%.

Marathon Petroleum announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 8.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Profile

(Free Report)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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