DRW Securities LLC Boosts Holdings in Marathon Petroleum Co. (NYSE:MPC)

DRW Securities LLC lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 504.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,915 shares of the oil and gas company’s stock after acquiring an additional 14,115 shares during the period. DRW Securities LLC’s holdings in Marathon Petroleum were worth $2,756,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MPC. Raymond James & Associates boosted its holdings 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 valued at $743,690,000 after purchasing an additional 107,915 shares during the last quarter. Pacer Advisors Inc. boosted its holdings 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 valued at $473,353,000 after acquiring an additional 235,795 shares during the last quarter. Boston Partners grew its position in Marathon Petroleum by 0.3% during 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 acquiring an additional 8,476 shares during the period. International Assets Investment Management LLC increased its stake in Marathon Petroleum by 19,153.8% during 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 during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Marathon Petroleum by 6.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,285,248 shares of the oil and gas company’s stock valued at $222,965,000 after purchasing an additional 72,192 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MPC shares. Bank of America began coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. Wells Fargo & Company reduced their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. lowered Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Morgan Stanley reduced their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, TD Cowen dropped their target price on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.07.

Marathon Petroleum Trading Down 0.5 %

NYSE MPC opened at $158.48 on Monday. The company’s fifty day moving average price is $158.78 and its two-hundred day moving average price is $167.46. The company has a market capitalization of $50.93 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 2.75 and a beta of 1.38. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. 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 (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. The firm had revenue of $35.37 billion during 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%. Marathon Petroleum’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $8.14 earnings per share. As a group, research analysts predict that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

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 issued a $0.91 dividend. The ex-dividend date is Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.30%. Marathon Petroleum’s payout ratio is 28.84%.

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

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.