1,772 Shares in Marathon Petroleum Co. (NYSE:MPC) Purchased by Camden National Bank

Camden National Bank acquired a new position in shares of Marathon Petroleum Co. (NYSE:MPC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,772 shares of the oil and gas company’s stock, valued at approximately $289,000.

A number of other institutional investors also recently made changes to their positions in the business. Nwam LLC bought a new stake in shares of Marathon Petroleum in the third quarter worth $328,000. Meridian Wealth Management LLC raised its stake in shares of Marathon Petroleum by 9.1% in the 3rd quarter. Meridian Wealth Management LLC now owns 10,111 shares of the oil and gas company’s stock valued at $1,647,000 after purchasing an additional 841 shares in the last quarter. Smithfield Trust Co lifted its position in shares of Marathon Petroleum by 17.7% during the third quarter. Smithfield Trust Co now owns 2,329 shares of the oil and gas company’s stock worth $379,000 after purchasing an additional 350 shares during the last quarter. Pacer Advisors Inc. grew its stake in Marathon Petroleum by 8.8% in the third quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company’s stock worth $473,353,000 after purchasing an additional 235,795 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in Marathon Petroleum by 4.4% during the third quarter. Intech Investment Management LLC now owns 169,906 shares of the oil and gas company’s stock valued at $27,679,000 after buying an additional 7,165 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MPC shares. TD Cowen lowered their price target on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Barclays reduced their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. BMO Capital Markets dropped their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Morgan Stanley decreased their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, Mizuho dropped their price target on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average price target of $185.07.

Marathon Petroleum Trading Down 0.5 %

Shares of NYSE:MPC opened at $158.48 on Friday. The firm has a market cap of $50.93 billion, a P/E ratio of 12.56, a P/E/G ratio of 2.77 and a beta of 1.38. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11. The company has a 50 day moving average of $158.78 and a 200-day moving average of $167.64.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the prior year, the firm posted $8.14 earnings per share. The company’s revenue was down 14.9% on a year-over-year basis. As a group, analysts anticipate that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.30%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is currently 28.84%.

Marathon Petroleum declared that its board has initiated a stock buyback program on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is 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.