Vinva Investment Management Ltd Boosts Stake in Marathon Petroleum Co. (NYSE:MPC)

Vinva Investment Management Ltd grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,327 shares of the oil and gas company’s stock after buying an additional 953 shares during the period. Vinva Investment Management Ltd’s holdings in Marathon Petroleum were worth $2,836,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Gladius Capital Management LP acquired a new position in Marathon Petroleum in the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC grew its holdings in shares of Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 80 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum during the third quarter valued at approximately $30,000. TruNorth Capital Management LLC purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $35,000. Finally, Darwin Wealth Management LLC acquired a new stake in Marathon Petroleum during the third quarter worth approximately $33,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 1.1 %

Shares of MPC opened at $155.36 on Friday. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. The stock’s 50-day moving average is $158.14 and its two-hundred day moving average is $166.95. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The stock has a market cap of $49.93 billion, a PE ratio of 12.31, a P/E/G ratio of 2.70 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results 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. The firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $8.14 EPS. Equities analysts forecast that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.34%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

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

Analysts Set New Price Targets

MPC has been the subject of several analyst reports. Citigroup cut their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. BMO Capital Markets reduced their target price 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. Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target for the company. Barclays cut their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Two 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 issued a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average 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.