Marathon Petroleum Co. (NYSE:MPC) Holdings Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in Marathon Petroleum Co. (NYSE:MPC) by 16.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,596 shares of the oil and gas company’s stock after selling 8,824 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Marathon Petroleum were worth $7,428,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MPC. Raymond James & Associates grew 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 worth $743,690,000 after acquiring an additional 107,915 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Marathon Petroleum by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after purchasing an additional 31,100 shares in the last quarter. Boston Partners raised its holdings in Marathon Petroleum by 0.3% during the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after buying an additional 8,476 shares during the period. Pacer Advisors Inc. lifted its stake in Marathon Petroleum by 8.5% during the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after buying an additional 209,270 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of 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 buying an additional 1,304,372 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $159.98 on Tuesday. The stock has a market capitalization of $51.42 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.74 and a beta of 1.38. The business has a 50-day moving average of $159.00 and a two-hundred day moving average of $168.10. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week 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 posted 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. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same period in the previous year, the company earned $8.14 EPS. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. On average, equities research analysts predict that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

Marathon Petroleum declared that its board has approved 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Marathon Petroleum Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MPC. Barclays reduced their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Scotiabank decreased their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Citigroup dropped their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Piper Sandler dropped their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum presently 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.