12,303 Shares in Marathon Petroleum Co. (NYSE:MPC) Bought by RIA Advisory Group LLC

RIA Advisory Group LLC purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 12,303 shares of the oil and gas company’s stock, valued at approximately $2,004,000. Marathon Petroleum accounts for approximately 0.7% of RIA Advisory Group LLC’s holdings, making the stock its 21st largest holding.

A number of other large investors have also added to or reduced their stakes in the company. Maxwell Wealth Strategies Inc. raised its holdings in shares of Marathon Petroleum by 15.1% during the third quarter. Maxwell Wealth Strategies Inc. now owns 18,131 shares of the oil and gas company’s stock valued at $2,712,000 after acquiring an additional 2,374 shares in the last quarter. Empowered Funds LLC raised its holdings in Marathon Petroleum by 25.9% in the 3rd quarter. Empowered Funds LLC now owns 241,707 shares of the oil and gas company’s stock worth $39,376,000 after purchasing an additional 49,689 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Marathon Petroleum by 3.8% during the 3rd quarter. CIBC Asset Management Inc now owns 53,571 shares of the oil and gas company’s stock valued at $8,727,000 after purchasing an additional 1,950 shares in the last quarter. Balboa Wealth Partners purchased a new position in shares of Marathon Petroleum during the third quarter valued at about $325,000. Finally, Oak Harbor Wealth Partners LLC lifted its holdings in Marathon Petroleum by 0.6% in the third quarter. Oak Harbor Wealth Partners LLC now owns 12,775 shares of the oil and gas company’s stock worth $2,081,000 after buying an additional 73 shares during the period. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on MPC shares. Scotiabank reduced their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Tudor, Pickering, Holt & Co. lowered Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Piper Sandler lowered their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. cut their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, BMO Capital Markets dropped their price target on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $185.07.

Marathon Petroleum Stock Down 0.4 %

MPC stock opened at $157.52 on Friday. 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 Co. has a 1-year low of $140.98 and a 1-year high of $221.11. The stock has a market capitalization of $50.63 billion, a P/E ratio of 12.48, a P/E/G ratio of 2.82 and a beta of 1.38. The business has a fifty day moving average price of $159.06 and a 200-day moving average price of $168.43.

Marathon Petroleum (NYSE:MPC) last posted its 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 net margin of 3.15% and a return on equity of 16.19%. The business had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. During the same quarter in the prior year, the business earned $8.14 EPS. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Co. will post 9.41 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. Investors of record on Wednesday, November 20th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.31%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.15%.

Marathon Petroleum declared that its board has authorized a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are 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.