Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC increased its holdings in Marathon Petroleum Co. (NYSE:MPC) by 14.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,365 shares of the oil and gas company’s stock after acquiring an additional 5,972 shares during the quarter. Townsquare Capital LLC’s holdings in Marathon Petroleum were worth $7,553,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MPC. Gladius Capital Management LP acquired a new position in Marathon Petroleum in the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC increased its stake in Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 80 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum in the 3rd quarter valued at $30,000. Darwin Wealth Management LLC acquired a new position in Marathon Petroleum in the 3rd quarter valued at $33,000. Finally, TruNorth Capital Management LLC acquired a new position in Marathon Petroleum in the 2nd quarter valued at $35,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Bank of America assumed 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. JPMorgan Chase & Co. decreased their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Barclays decreased their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Finally, Mizuho cut their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Two investment 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.07.

Marathon Petroleum Stock Down 1.2 %

MPC opened at $155.33 on Thursday. The company has a market cap of $49.92 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The firm has a 50 day moving average price of $158.36 and a 200 day moving average price of $167.03. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

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, topping analysts’ consensus estimates of $0.97 by $0.90. The firm 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%. Marathon Petroleum’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.14 EPS. Sell-side analysts expect that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is currently 28.84%.

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

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.