Commerce Bank Sells 532 Shares of Marathon Petroleum Co. (NYSE:MPC)

Commerce Bank lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 1.5% in the third quarter, HoldingsChannel reports. The fund owned 35,737 shares of the oil and gas company’s stock after selling 532 shares during the period. Commerce Bank’s holdings in Marathon Petroleum were worth $5,822,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Gladius Capital Management LP acquired a new position in shares of Marathon Petroleum during the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC grew its position in 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 buying an additional 80 shares in the last quarter. Crewe Advisors LLC bought a new position in Marathon Petroleum during the 1st quarter worth $29,000. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum in the 3rd quarter valued at $30,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $35,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Scotiabank decreased their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. TD Cowen dropped their target price on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Citigroup reduced their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Barclays lowered their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price on the stock. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.07.

Marathon Petroleum Stock Up 0.1 %

Shares of NYSE MPC opened at $159.49 on Friday. The company has a 50 day simple moving average of $158.88 and a 200 day simple moving average of $167.81. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The firm has a market cap of $51.26 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.76 and a beta of 1.38.

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 (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter last year, the firm earned $8.14 earnings per share. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Co. will post 9.59 EPS for the current year.

Marathon Petroleum announced that its Board of Directors has approved a stock buyback plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $0.91 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.28%. Marathon Petroleum’s dividend payout ratio is presently 26.15%.

Marathon Petroleum Company 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.