Accretive Wealth Partners LLC Cuts Position in Marathon Petroleum Co. (NYSE:MPC)

Accretive Wealth Partners LLC lowered its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,737 shares of the oil and gas company’s stock after selling 562 shares during the quarter. Marathon Petroleum comprises 1.1% of Accretive Wealth Partners LLC’s holdings, making the stock its 19th largest holding. Accretive Wealth Partners LLC’s holdings in Marathon Petroleum were worth $2,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Natixis boosted its stake in Marathon Petroleum by 1,191.3% in the first quarter. Natixis now owns 2,983 shares of the oil and gas company’s stock valued at $601,000 after acquiring an additional 2,752 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Marathon Petroleum in the first quarter valued at about $29,000. Shell Asset Management Co. boosted its holdings in Marathon Petroleum by 65.9% in the first quarter. Shell Asset Management Co. now owns 5,067 shares of the oil and gas company’s stock worth $1,021,000 after acquiring an additional 2,012 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Marathon Petroleum by 6.3% during the first quarter. Advisors Asset Management Inc. now owns 15,158 shares of the oil and gas company’s stock worth $3,054,000 after acquiring an additional 895 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at approximately $226,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Piper Sandler reduced their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Citigroup reduced their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. TD Cowen dropped their price target on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Scotiabank cut their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Bank of America started coverage on Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.07.

Marathon Petroleum Trading Up 0.1 %

MPC opened at $159.49 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a market cap of $51.26 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.76 and a beta of 1.38. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The business has a fifty day simple moving average of $158.88 and a 200-day simple moving average of $167.81.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. During the same period last year, the firm earned $8.14 earnings per share. Marathon Petroleum’s quarterly revenue was down 14.9% on a year-over-year basis. On average, equities analysts expect that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued 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 yield of 2.28%. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is currently 26.15%.

Marathon Petroleum announced that its board has authorized a share repurchase program 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 programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.