CWA Asset Management Group LLC Invests $1.45 Million in Marathon Petroleum Co. (NYSE:MPC)

CWA Asset Management Group LLC bought a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,907 shares of the oil and gas company’s stock, valued at approximately $1,451,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Equitable Trust Co. increased its holdings in shares of Marathon Petroleum by 212.8% during the third quarter. Equitable Trust Co. now owns 5,145 shares of the oil and gas company’s stock valued at $838,000 after acquiring an additional 3,500 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Marathon Petroleum during the 3rd quarter valued at approximately $52,000. Comprehensive Financial Consultants Institutional Inc. increased its stake in Marathon Petroleum by 1.1% during the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 26,960 shares of the oil and gas company’s stock valued at $4,392,000 after purchasing an additional 295 shares in the last quarter. AIA Group Ltd lifted its stake in shares of Marathon Petroleum by 1.7% during the third quarter. AIA Group Ltd now owns 11,700 shares of the oil and gas company’s stock worth $1,906,000 after buying an additional 200 shares during the period. Finally, Lifestyle Asset Management Inc. grew its holdings in shares of Marathon Petroleum by 4.7% during the third quarter. Lifestyle Asset Management Inc. now owns 5,969 shares of the oil and gas company’s stock valued at $972,000 after buying an additional 268 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MPC has been the subject of a number of research reports. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Scotiabank dropped their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Jefferies Financial Group increased their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Citigroup dropped their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, Mizuho reduced their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $185.67.

Marathon Petroleum Stock Down 0.2 %

MPC stock opened at $153.75 on Friday. The firm’s 50 day moving average price is $160.49 and its 200-day moving average price is $169.89. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.23. The firm has a market cap of $49.41 billion, a PE ratio of 12.18, a PEG ratio of 2.97 and a beta of 1.38. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same period in the prior year, the business posted $8.14 EPS. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 8.71 EPS for the current year.

Marathon Petroleum Increases Dividend

The company 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 of this dividend is Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.37%. Marathon Petroleum’s payout ratio is presently 26.15%.

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

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.