Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Fiduciary Family Office LLC

Fiduciary Family Office LLC cut its holdings in Marathon Petroleum Co. (NYSE:MPC) by 11.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,594 shares of the oil and gas company’s stock after selling 457 shares during the period. Fiduciary Family Office LLC’s holdings in Marathon Petroleum were worth $585,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MPC. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter valued at $29,000. Harbor Capital Advisors Inc. purchased a new stake in Marathon Petroleum during the 3rd quarter worth $30,000. Wellington Shields & Co. LLC purchased a new stake in Marathon Petroleum during the 1st quarter worth $40,000. TruNorth Capital Management LLC purchased a new stake in Marathon Petroleum during the 2nd quarter worth $35,000. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in Marathon Petroleum during the 2nd quarter worth $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

MPC opened at $149.41 on Wednesday. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The firm has a market cap of $50.00 billion, a price-to-earnings ratio of 7.85, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38. The company’s 50-day moving average price is $161.59 and its 200 day moving average price is $170.42. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.32 EPS. As a group, sell-side analysts expect that Marathon Petroleum Co. will post 8.71 earnings per share for the current 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 issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.44%. Marathon Petroleum’s dividend payout ratio (DPR) is 17.34%.

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 shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America assumed coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Wolfe Research assumed coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective for the company. Finally, Mizuho cut their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

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.