Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by World Investment Advisors LLC

World Investment Advisors LLC grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 4,227.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,759 shares of the oil and gas company’s stock after buying an additional 68,147 shares during the period. World Investment Advisors LLC’s holdings in Marathon Petroleum were worth $11,364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP increased its position in shares of Marathon Petroleum by 342.1% in the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after acquiring an additional 4,328,470 shares in the last quarter. Raymond James & Associates increased its stake in Marathon Petroleum by 2.6% during the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after purchasing an additional 107,915 shares during the last quarter. Pacer Advisors Inc. grew its stake in Marathon Petroleum by 8.8% during the 3rd quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company’s stock worth $473,353,000 after buying an additional 235,795 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Marathon Petroleum by 45.4% in the third quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock valued at $217,560,000 after purchasing an additional 415,368 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Marathon Petroleum by 19,153.8% in the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock worth $213,605,000 after purchasing an additional 1,304,372 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

MPC opened at $151.99 on Thursday. Marathon Petroleum Co. has a 12-month low of $141.45 and a 12-month high of $221.11. The firm has a market capitalization of $48.85 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 2.65 and a beta of 1.40. The stock’s 50 day moving average price is $156.20 and its two-hundred day moving average price is $165.42. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the prior year, the business earned $8.14 earnings per share. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. On average, equities analysts forecast that Marathon Petroleum Co. will post 9.5 earnings per share for the current year.

Marathon Petroleum announced that its board has authorized a stock buyback 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.39%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is currently 28.84%.

Insider Activity

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now directly owns 6,090 shares in the company, valued at $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of research reports. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $183.00 to $186.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. cut their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday. 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. Finally, Bank of America began coverage on Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued 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 target price of $185.27.

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.