Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by DRW Securities LLC

DRW Securities LLC raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 504.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,915 shares of the oil and gas company’s stock after acquiring an additional 14,115 shares during the period. DRW Securities LLC’s holdings in Marathon Petroleum were worth $2,756,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gladius Capital Management LP acquired a new position in shares of Marathon Petroleum during the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC grew its holdings in 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 acquiring an additional 80 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum in the third quarter worth about $30,000. Wellington Shields & Co. LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at about $40,000. Finally, TruNorth Capital Management LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $35,000. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Citigroup dropped their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. BMO Capital Markets decreased their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Piper Sandler decreased their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” 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. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $185.07.

Marathon Petroleum Price Performance

MPC opened at $158.48 on Monday. 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 Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The stock has a fifty day moving average price of $158.78 and a 200 day moving average price of $167.46. The stock has a market cap of $50.93 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.75 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.14 EPS. Analysts forecast that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

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

Marathon Petroleum Increases Dividend

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

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.