Citizens Financial Group Inc. RI Has $3.04 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Citizens Financial Group Inc. RI lifted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,630 shares of the oil and gas company’s stock after purchasing an additional 244 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Marathon Petroleum were worth $3,035,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Gladius Capital Management LP bought a new stake in Marathon Petroleum during the third quarter valued at about $26,000. MeadowBrook Investment Advisors LLC boosted its position in shares of Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter worth approximately $29,000. Harbor Capital Advisors Inc. bought a new position in shares of Marathon Petroleum during the third quarter valued at $30,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the 3rd quarter worth approximately $33,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 0.1 %

Marathon Petroleum stock opened at $159.49 on Friday. 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 market cap of $51.26 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.76 and a beta of 1.38. The company’s 50-day moving average price is $158.88 and its two-hundred day moving average price is $167.81. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11.

Marathon Petroleum (NYSE:MPC) last released 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 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 for the quarter was down 14.9% compared to the same quarter last year. During the same period last year, the firm earned $8.14 earnings per share. As a group, analysts expect that Marathon Petroleum Co. will post 9.59 EPS for the current year.

Marathon Petroleum declared that its Board of Directors has approved a share buyback plan 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 purchase up to 10% of its stock through open market purchases. Stock repurchase plans are often 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. Stockholders of record on Wednesday, November 20th will be paid a $0.91 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.28%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.15%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MPC shares. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Mizuho decreased their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. TD Cowen dropped their target price on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Barclays dropped their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average 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.