KBC Group NV Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

KBC Group NV lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 60.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,848 shares of the oil and gas company’s stock after selling 219,454 shares during the quarter. KBC Group NV’s holdings in Marathon Petroleum were worth $23,108,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MPC. Founders Financial Securities LLC lifted its position in Marathon Petroleum by 22.8% during the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 924 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Marathon Petroleum by 27.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after acquiring an additional 9,355 shares during the last quarter. Holistic Planning LLC purchased a new position in Marathon Petroleum in the third quarter worth about $912,000. LRI Investments LLC bought a new stake in Marathon Petroleum during the first quarter worth approximately $97,000. Finally, Magnolia Capital Advisors LLC lifted its stake in shares of Marathon Petroleum by 353.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after purchasing an additional 43,639 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

NYSE MPC opened at $157.51 on Friday. The company has a market cap of $50.62 billion, a PE ratio of 12.48, a P/E/G ratio of 2.82 and a beta of 1.38. The firm’s 50 day moving average price is $159.23 and its 200-day moving average price is $168.73. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The company had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter last year, the company earned $8.14 earnings per share. Sell-side analysts forecast that Marathon Petroleum Co. will post 9.41 EPS for the current fiscal year.

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 issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.31%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 26.15%.

Marathon Petroleum declared that its Board of Directors has initiated a share buyback program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Mizuho decreased their price target on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Morgan Stanley lowered their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Finally, Citigroup reduced their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.