Executive Wealth Management LLC Buys 259 Shares of Marathon Petroleum Co. (NYSE:MPC)

Executive Wealth Management LLC raised its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 16.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,840 shares of the oil and gas company’s stock after acquiring an additional 259 shares during the period. Executive Wealth Management LLC’s holdings in Marathon Petroleum were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum in the first quarter worth approximately $29,000. Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum during the third quarter worth $30,000. TruNorth Capital Management LLC purchased a new stake in shares of Marathon Petroleum during the second quarter valued at $35,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Marathon Petroleum in the second quarter worth about $35,000. Finally, Wellington Shields & Co. LLC purchased a new position in Marathon Petroleum in the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the topic of several research analyst reports. Barclays dropped their price objective on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Wolfe Research initiated coverage on Marathon Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target on the stock. Mizuho lowered their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Scotiabank cut their target price on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Two 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, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $185.67.

Marathon Petroleum Stock Performance

MPC opened at $153.60 on Friday. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.90. The firm has a fifty day moving average price of $160.49 and a 200 day moving average price of $169.89. The stock has a market cap of $49.37 billion, a P/E ratio of 12.17, a P/E/G ratio of 2.97 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $34.34 billion. During the same quarter in the prior year, the firm posted $8.14 EPS. Marathon Petroleum’s quarterly revenue was down 14.9% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $0.91 dividend. This is a positive change 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 2.37%. Marathon Petroleum’s dividend payout ratio (DPR) is 26.15%.

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

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.