Marathon Petroleum Co. (NYSE:MPC) Shares Purchased by Brooklyn Investment Group

Brooklyn Investment Group boosted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 7.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,371 shares of the oil and gas company’s stock after purchasing an additional 156 shares during the quarter. Brooklyn Investment Group’s holdings in Marathon Petroleum were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dai ichi Life Insurance Company Ltd boosted its holdings in Marathon Petroleum by 40.5% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 8,810 shares of the oil and gas company’s stock valued at $1,435,000 after purchasing an additional 2,541 shares in the last quarter. Bank of Montreal Can boosted its holdings in Marathon Petroleum by 45.4% in the third quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock valued at $217,560,000 after purchasing an additional 415,368 shares in the last quarter. Hancock Whitney Corp lifted its stake in Marathon Petroleum by 0.6% in the third quarter. Hancock Whitney Corp now owns 20,301 shares of the oil and gas company’s stock valued at $3,307,000 after buying an additional 126 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Marathon Petroleum in the third quarter valued at approximately $184,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Marathon Petroleum by 59.8% in the third quarter. Brown Brothers Harriman & Co. now owns 5,335 shares of the oil and gas company’s stock valued at $869,000 after buying an additional 1,997 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 0.4 %

MPC opened at $157.13 on Wednesday. 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 firm has a market cap of $50.50 billion, a P/E ratio of 12.45, a PEG ratio of 2.72 and a beta of 1.38. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The business’s fifty day simple moving average is $158.55 and its 200 day simple moving average is $167.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating 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 business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter last year, the company earned $8.14 earnings per share. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has initiated a share repurchase 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 purchase up to 10% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management 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. Shareholders of record on Wednesday, November 20th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.32%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MPC shares. BMO Capital Markets reduced their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Citigroup reduced their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Barclays cut their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Scotiabank cut their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.