Nwam LLC Buys Shares of 2,015 Marathon Petroleum Co. (NYSE:MPC)

Nwam LLC purchased a new position in shares of Marathon Petroleum Co. (NYSE:MPC) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,015 shares of the oil and gas company’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Meridian Wealth Management LLC grew its stake in Marathon Petroleum by 9.1% during the 3rd quarter. Meridian Wealth Management LLC now owns 10,111 shares of the oil and gas company’s stock worth $1,647,000 after buying an additional 841 shares during the last quarter. Smithfield Trust Co grew its stake in shares of Marathon Petroleum by 17.7% during the third quarter. Smithfield Trust Co now owns 2,329 shares of the oil and gas company’s stock worth $379,000 after acquiring an additional 350 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Marathon Petroleum by 8.8% during the third quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company’s stock valued at $473,353,000 after acquiring an additional 235,795 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Marathon Petroleum by 4.4% in the 3rd quarter. Intech Investment Management LLC now owns 169,906 shares of the oil and gas company’s stock valued at $27,679,000 after purchasing an additional 7,165 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in Marathon Petroleum by 1.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 18,630 shares of the oil and gas company’s stock worth $3,035,000 after purchasing an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.5 %

Shares of MPC opened at $158.48 on Monday. The firm has a market cap of $50.93 billion, a P/E ratio of 12.56, a PEG ratio of 2.77 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 stock’s 50 day moving average is $158.78 and its two-hundred day moving average is $167.46. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last issued 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. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the previous year, the firm earned $8.14 EPS. The firm’s revenue was down 14.9% compared to the same quarter last year. Analysts predict that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.30%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum’s payout ratio is presently 28.84%.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MPC shares. BMO Capital Markets decreased their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Scotiabank lowered their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Citigroup dropped their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. TD Cowen reduced their price target on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Bank of America started coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective on the stock. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average 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.