Foster & Motley Inc. Has $3.92 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Foster & Motley Inc. increased its position in Marathon Petroleum Co. (NYSE:MPC) by 7.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,068 shares of the oil and gas company’s stock after buying an additional 1,571 shares during the quarter. Foster & Motley Inc.’s holdings in Marathon Petroleum were worth $3,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new position in shares of Marathon Petroleum in the first quarter worth approximately $29,000. Harbor Capital Advisors Inc. bought a new position in Marathon Petroleum during the third quarter worth $30,000. TruNorth Capital Management LLC acquired a new position in Marathon Petroleum in the second quarter valued at $35,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $35,000. Finally, Wellington Shields & Co. LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $40,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Up 4.2 %

Marathon Petroleum stock opened at $155.85 on Wednesday. The stock has a market cap of $52.16 billion, a P/E ratio of 7.85, a PEG ratio of 2.74 and a beta of 1.38. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The firm’s fifty day moving average price is $161.59 and its 200-day moving average price is $170.42. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. During the same quarter last year, the firm posted $8.14 EPS. The company’s revenue was down 14.9% compared to the same quarter last year. Equities research analysts forecast that Marathon Petroleum Co. will post 8.71 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors 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 reacquire up to 10% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.34%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is 17.34%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MPC. Morgan Stanley reduced their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Scotiabank reduced their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Bank of America started coverage on Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. Piper Sandler cut their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Finally, Jefferies Financial Group upped their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $185.67.

About Marathon Petroleum

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.