Meeder Advisory Services Inc. Sells 125 Shares of Marathon Petroleum Co. (NYSE:MPC)

Meeder Advisory Services Inc. reduced its stake in Marathon Petroleum Co. (NYSE:MPC) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,638 shares of the oil and gas company’s stock after selling 125 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Marathon Petroleum were worth $2,059,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC raised its position in shares of 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 last quarter. Crewe Advisors LLC acquired a new position in Marathon Petroleum in the first quarter valued at $29,000. Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $30,000. Finally, TruNorth Capital Management LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter worth about $35,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $159.98 on Tuesday. The stock has a market cap of $51.42 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 2.74 and a beta of 1.38. The stock’s 50-day moving average is $159.00 and its 200 day moving average is $168.10. 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.

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

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.28%. 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 dividend payout ratio is 26.15%.

Marathon Petroleum declared that its Board of Directors has approved a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

MPC has been the subject of a number of recent research reports. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. 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 report on Monday, September 16th. Morgan Stanley cut their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target for the company. Finally, BMO Capital Markets cut their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Two investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $185.07.

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.