Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Maxwell Wealth Strategies Inc.

by · The Cerbat Gem

Maxwell Wealth Strategies Inc. increased its position in Marathon Petroleum Co. (NYSE:MPC – Free Report) by 15.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,131 shares of the oil and gas company’s stock after acquiring an additional 2,374 shares during the period. Marathon Petroleum makes up about 1.2% of Maxwell Wealth Strategies Inc.’s portfolio, making the stock its 27th biggest holding. Maxwell Wealth Strategies Inc.’s holdings in Marathon Petroleum were worth $2,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MPC. MeadowBrook Investment Advisors LLC increased its stake in shares of Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 80 shares during the period. Crewe Advisors LLC acquired a new stake in Marathon Petroleum during the 1st quarter worth about $29,000. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum during the 3rd quarter valued at about $30,000. TruNorth Capital Management LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $35,000. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in shares of Marathon Petroleum in the second quarter worth about $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $157.52 on Friday. The company has a fifty day simple moving average of $159.06 and a 200-day simple moving average of $168.43. The firm has a market capitalization of $50.63 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.82 and a beta of 1.38. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum’s revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.14 EPS. On average, equities analysts anticipate that Marathon Petroleum Co. will post 9.41 EPS for the current fiscal year.

Marathon Petroleum announced that its board has initiated a stock buyback program on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.31%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is 26.15%.

Analyst Ratings Changes

A number of research analysts have issued reports on MPC shares. TD Cowen decreased their price target on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company lowered their price target on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Piper Sandler lowered their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. cut 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. Two research 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.07.

View Our Latest Analysis on MPC

About Marathon Petroleum

(Free Report)

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.

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