AlphaCore Capital LLC Trims Stake in Marathon Petroleum Co. (NYSE:MPC)

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

Several other institutional investors and hedge funds have also made changes to their positions in MPC. Oppenheimer Asset Management Inc. lifted its stake in shares of Marathon Petroleum by 27.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after purchasing an additional 9,355 shares during the period. Founders Financial Securities LLC boosted its stake in Marathon Petroleum by 22.8% in the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after buying an additional 924 shares during the last quarter. Holistic Planning LLC purchased a new stake in Marathon Petroleum in the 3rd quarter valued at about $912,000. LRI Investments LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter worth about $97,000. Finally, Magnolia Capital Advisors LLC raised its stake in Marathon Petroleum by 353.4% during the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 0.1 %

MPC stock opened at $159.49 on Friday. The firm has a 50 day simple moving average of $158.88 and a 200-day simple moving average of $167.81. The company has a market capitalization of $51.26 billion, a P/E ratio of 12.64, a PEG ratio of 2.76 and a beta of 1.38. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating 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 business 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 company posted $8.14 EPS. The business’s revenue was down 14.9% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

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

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

Analyst Ratings Changes

Several equities research analysts have commented on MPC shares. JPMorgan Chase & Co. dropped their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Scotiabank cut their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Morgan Stanley decreased their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Finally, Barclays decreased 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. Two equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $185.07.

Marathon Petroleum Company 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.