Prime Capital Investment Advisors LLC Sells 573 Shares of Marathon Petroleum Co. (NYSE:MPC)

Prime Capital Investment Advisors LLC decreased its position in Marathon Petroleum Co. (NYSE:MPC) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,453 shares of the oil and gas company’s stock after selling 573 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Marathon Petroleum were worth $4,309,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MPC. Crewe Advisors LLC acquired a new position in Marathon Petroleum during the first quarter valued at approximately $29,000. Harbor Capital Advisors Inc. acquired a new position in shares of Marathon Petroleum during the 3rd quarter worth $30,000. TruNorth Capital Management LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth $35,000. Industrial Alliance Investment Management Inc. bought a new position in Marathon Petroleum in the second quarter valued at about $35,000. Finally, Wellington Shields & Co. LLC acquired a new position in Marathon Petroleum during the first quarter worth about $40,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $155.19 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 company has a market capitalization of $49.88 billion, a PE ratio of 12.30, a P/E/G ratio of 2.76 and a beta of 1.38. The firm has a fifty day simple moving average of $160.06 and a 200 day simple moving average of $169.17. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11.

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 (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 company had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same period in the previous year, the business earned $8.14 EPS. The firm’s revenue was down 14.9% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 9.41 EPS for the current year.

Marathon Petroleum announced that its Board of Directors has approved a share repurchase plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business 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 is Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.35%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is currently 26.15%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MPC shares. Bank of America initiated coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. Mizuho dropped their price target on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. 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 report on Monday, September 16th. Piper Sandler dropped their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Finally, Wolfe Research assumed coverage on Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have issued 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, the stock presently has an average rating of “Moderate Buy” and an average 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.