Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its stake in Marathon Petroleum Co. (NYSE:MPC) by 27.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,174 shares of the oil and gas company’s stock after acquiring an additional 9,355 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Marathon Petroleum were worth $7,033,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter worth about $29,000. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum in the third quarter worth about $30,000. Wellington Shields & Co. LLC bought a new stake in Marathon Petroleum in the first quarter valued at about $40,000. TruNorth Capital Management LLC acquired a new stake in Marathon Petroleum during the second quarter valued at approximately $35,000. Finally, Industrial Alliance Investment Management Inc. bought a new position in Marathon Petroleum during the 2nd quarter worth approximately $35,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Shares of MPC opened at $158.14 on Friday. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The firm has a market capitalization of $50.82 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 2.75 and a beta of 1.38. The stock’s fifty day moving average is $159.44 and its 200-day moving average is $168.80. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last issued 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 return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. During the same period last year, the firm earned $8.14 EPS. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. Equities analysts anticipate that Marathon Petroleum Co. will post 9.41 EPS for the current year.

Marathon Petroleum announced that its board has initiated a stock buyback program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $0.91 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.30%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is currently 26.15%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Bank of America assumed coverage on Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. Citigroup dropped their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Mizuho decreased their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, September 16th. BMO Capital Markets cut their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, Barclays decreased their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.07.

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.