Marathon Petroleum Co. (NYSE:MPC) Holdings Reduced by AlphaCore Capital LLC

AlphaCore Capital LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,265 shares of the oil and gas company’s stock after selling 1,455 shares during the period. Marathon Petroleum makes up about 1.4% of AlphaCore Capital LLC’s investment portfolio, making the stock its 12th largest holding. AlphaCore Capital LLC’s holdings in Marathon Petroleum were worth $6,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in shares of Marathon Petroleum by 2.6% in the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after acquiring an additional 107,915 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Marathon Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock valued at $620,815,000 after purchasing an additional 31,100 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Marathon Petroleum by 8.8% during the 3rd quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company’s stock valued at $473,353,000 after purchasing an additional 235,795 shares during the period. Boston Partners lifted its holdings in shares of Marathon Petroleum by 0.3% in the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock valued at $558,390,000 after buying an additional 8,476 shares during the period. Finally, International Assets Investment Management LLC raised its position in Marathon Petroleum by 19,153.8% in the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock worth $213,605,000 after acquiring an additional 1,304,372 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading 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. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. The company’s fifty day simple moving average is $158.88 and its 200-day simple moving average is $167.81. 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.

Marathon Petroleum (NYSE:MPC) last issued 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 company had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business’s revenue was down 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.14 EPS. As a group, sell-side analysts forecast that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.28%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum’s payout ratio is currently 26.15%.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Bank of America initiated coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective on the stock. TD Cowen cut their price objective on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. BMO Capital Markets decreased their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $185.07.

About Marathon Petroleum

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.