Townsquare Capital LLC Grows Holdings in Marathon Petroleum Co. (NYSE:MPC)

Townsquare Capital LLC increased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 14.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,365 shares of the oil and gas company’s stock after purchasing an additional 5,972 shares during the quarter. Townsquare Capital LLC’s holdings in Marathon Petroleum were worth $7,553,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MPC. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC increased its holdings in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Marathon Petroleum during the 3rd quarter worth about $30,000. Darwin Wealth Management LLC acquired a new position in shares of Marathon Petroleum during the 3rd quarter worth about $33,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth about $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 1.2 %

Shares of MPC opened at $155.33 on Thursday. The firm has a market capitalization of $49.92 billion, a P/E ratio of 12.31, a P/E/G ratio of 2.72 and a beta of 1.38. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-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. The firm has a fifty day moving average price of $158.36 and a 200-day moving average price of $167.03.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $34.34 billion. During the same quarter in the previous year, the firm earned $8.14 EPS. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. Equities research analysts expect that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

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

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $0.91 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is 28.84%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MPC. Wells Fargo & Company cut their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. BMO Capital Markets lowered their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Mizuho decreased their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Scotiabank decreased their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.