Marathon Petroleum Co. (NYSE:MPC) Stock Holdings Lifted by Avestar Capital LLC

Avestar Capital LLC lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,689 shares of the oil and gas company’s stock after acquiring an additional 208 shares during the quarter. Avestar Capital LLC’s holdings in Marathon Petroleum were worth $438,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. B. Riley Wealth Advisors Inc. lifted its stake in Marathon Petroleum by 4.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,188 shares of the oil and gas company’s stock valued at $2,657,000 after buying an additional 588 shares in the last quarter. Tidal Investments LLC boosted its stake in Marathon Petroleum by 19.6% in the 1st quarter. Tidal Investments LLC now owns 44,149 shares of the oil and gas company’s stock worth $8,883,000 after purchasing an additional 7,244 shares during the period. Castleark Management LLC grew its position in Marathon Petroleum by 19.3% during the 1st quarter. Castleark Management LLC now owns 19,739 shares of the oil and gas company’s stock worth $3,977,000 after purchasing an additional 3,200 shares in the last quarter. First Western Trust Bank acquired a new stake in Marathon Petroleum during the 1st quarter valued at $220,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of Marathon Petroleum in the first quarter valued at $198,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 0.4 %

Shares of Marathon Petroleum stock opened at $157.13 on Wednesday. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month 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 stock has a 50 day moving average price of $158.55 and a two-hundred day moving average price of $167.11. The stock has a market capitalization of $50.50 billion, a P/E ratio of 12.45, a PEG ratio of 2.72 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum’s revenue was down 14.9% compared to the same quarter last year. During the same period last year, the business posted $8.14 EPS. Equities 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 initiated a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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 given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is currently 28.84%.

Analyst Ratings Changes

Several research firms recently weighed in on MPC. Citigroup dropped their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Barclays reduced their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Wells Fargo & Company decreased their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus 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.