Gulf International Bank UK Ltd Sells 1,369 Shares of Marathon Petroleum Co. (NYSE:MPC)

Gulf International Bank UK Ltd reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.6% during the third quarter, Holdings Channel reports. The institutional investor owned 28,211 shares of the oil and gas company’s stock after selling 1,369 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Marathon Petroleum were worth $4,595,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Jennison Associates LLC bought a new stake in Marathon Petroleum in the first quarter valued at approximately $15,399,000. Central Pacific Bank Trust Division purchased a new stake in Marathon Petroleum during the 1st quarter valued at $102,000. Commerce Bank grew its holdings in Marathon Petroleum by 1.5% in the 1st quarter. Commerce Bank now owns 36,425 shares of the oil and gas company’s stock worth $7,340,000 after acquiring an additional 521 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Marathon Petroleum in the first quarter valued at about $285,000. Finally, SPC Financial Inc. raised its stake in shares of Marathon Petroleum by 1.7% during the first quarter. SPC Financial Inc. now owns 25,523 shares of the oil and gas company’s stock valued at $5,143,000 after acquiring an additional 427 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of recent analyst reports. Wolfe Research began coverage on Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target for the company. Barclays decreased their target price on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. TD Cowen raised their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley reduced their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $187.00.

Marathon Petroleum Trading Up 3.1 %

Shares of Marathon Petroleum stock opened at $149.41 on Wednesday. Marathon Petroleum Co. has a 1-year low of $140.98 and a 1-year high of $221.11. The company’s fifty day simple moving average is $161.59 and its 200-day simple moving average is $170.42. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The stock has a market capitalization of $50.00 billion, a PE ratio of 7.85, a P/E/G ratio of 2.74 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the previous year, the company posted $5.32 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum declared that its board has approved a stock repurchase program on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in outstanding 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 typically a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is presently 17.34%.

About Marathon Petroleum

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.