Pathstone Holdings LLC Decreases Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Pathstone Holdings LLC decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.8% in the third quarter, HoldingsChannel reports. The fund owned 57,457 shares of the oil and gas company’s stock after selling 2,926 shares during the quarter. Pathstone Holdings LLC’s holdings in Marathon Petroleum were worth $9,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum during the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC lifted its stake in shares of 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 valued at $28,000 after buying an additional 80 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter valued at $29,000. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum during the 3rd quarter valued at $30,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.1 %

NYSE MPC opened at $159.49 on Friday. The firm’s 50-day moving average is $158.88 and its two-hundred day moving average is $167.81. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. 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 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 (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The company had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.14 EPS. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum declared that its Board of Directors has approved a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership 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 given a dividend of $0.91 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is currently 26.15%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Mizuho lowered their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, TD Cowen cut their price target on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $185.07.

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.