National Bank of Canada FI Increases Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

National Bank of Canada FI grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) by 212.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 846,756 shares of the oil and gas company’s stock after purchasing an additional 576,119 shares during the period. National Bank of Canada FI owned about 0.26% of Marathon Petroleum worth $137,945,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MPC. Gladius Capital Management LP acquired a new stake in Marathon Petroleum during the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC raised its stake in shares of Marathon Petroleum by 88.9% in the third 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. True Wealth Design LLC boosted its holdings in Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum during the 3rd quarter worth $30,000. Finally, TruNorth Capital Management LLC purchased a new stake in Marathon Petroleum during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MPC. Mizuho lowered 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. BMO Capital Markets lowered their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Morgan Stanley reduced their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Citigroup lowered their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Finally, Barclays cut their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Two investment 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 stock. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.07.

Read Our Latest Report on Marathon Petroleum

Insider Buying and Selling

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, the director now directly owns 6,090 shares in the company, valued at $911,124.90. The trade was a 6,666.67 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Up 0.6 %

MPC stock opened at $150.94 on Friday. The company has a market cap of $48.51 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 2.61 and a beta of 1.39. The company has a fifty day moving average price of $157.21 and a 200 day moving average price of $166.19. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.14 earnings per share. Sell-side analysts expect that Marathon Petroleum Co. will post 9.5 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business 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 dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 28.84%.

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

About Marathon Petroleum

(Free Report)

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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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