Marathon Petroleum Co. (NYSE:MPC) Position Lowered by Bridgewater Associates LP

Bridgewater Associates LP reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 95.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,981 shares of the oil and gas company’s stock after selling 110,373 shares during the period. Bridgewater Associates LP’s holdings in Marathon Petroleum were worth $811,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Gladius Capital Management LP acquired a new stake in Marathon Petroleum during the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC lifted its holdings in shares of 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 worth $28,000 after purchasing an additional 80 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum during the 3rd quarter valued at approximately $30,000. Darwin Wealth Management LLC bought a new position in Marathon Petroleum during the 3rd quarter worth $33,000. Finally, TruNorth Capital Management LLC bought a new stake in Marathon Petroleum in the second quarter valued at $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock opened at $157.39 on Tuesday. The firm has a 50-day moving average of $157.98 and a two-hundred day moving average of $166.70. The firm has a market capitalization of $50.58 billion, a PE ratio of 12.47, a P/E/G ratio of 2.71 and a beta of 1.38. 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 one year low of $140.98 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $34.34 billion. During the same period in the previous year, the company posted $8.14 EPS. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. On average, analysts forecast that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum declared that its board has approved a stock buyback program on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a dividend of $0.91 per share. 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 dividend on an annualized basis and a yield of 2.31%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MPC. Scotiabank dropped their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. Morgan Stanley lowered their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Barclays reduced their price target on 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, Wells Fargo & Company decreased their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.