Lifestyle Asset Management Inc. Purchases 268 Shares of Marathon Petroleum Co. (NYSE:MPC)

Lifestyle Asset Management Inc. boosted its position in Marathon Petroleum Co. (NYSE:MPC) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,969 shares of the oil and gas company’s stock after acquiring an additional 268 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in Marathon Petroleum were worth $972,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in shares of Marathon Petroleum by 2.6% during the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after buying an additional 107,915 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Marathon Petroleum by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after acquiring an additional 31,100 shares during the last quarter. Boston Partners boosted its stake in shares of Marathon Petroleum by 0.3% in the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock valued at $558,390,000 after purchasing an additional 8,476 shares in the last quarter. Pacer Advisors Inc. increased its position in Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after purchasing an additional 209,270 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Marathon Petroleum by 7.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after purchasing an additional 117,790 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 0.8 %

Shares of MPC stock opened at $154.00 on Friday. The company has a market cap of $51.54 billion, a P/E ratio of 8.09, a PEG ratio of 2.77 and a beta of 1.38. 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 50 day simple moving average of $161.30 and a two-hundred day simple moving average of $170.32. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period last year, the company posted $8.14 earnings per share. Research analysts forecast that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has approved a share buyback plan on Tuesday, November 5th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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 issued a dividend of $0.91 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.36%. Marathon Petroleum’s payout ratio is currently 17.34%.

Analyst Ratings Changes

A number of research firms have weighed in on MPC. Jefferies Financial Group boosted their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Citigroup lowered their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Scotiabank reduced their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. TD Cowen lowered their price objective on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.67.

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.