Mutual of America Capital Management LLC Decreases Position in Marathon Petroleum Co. (NYSE:MPC)

Mutual of America Capital Management LLC reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 16.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,596 shares of the oil and gas company’s stock after selling 8,824 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Marathon Petroleum were worth $7,428,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Crewe Advisors LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth $29,000. MeadowBrook Investment Advisors LLC lifted its holdings in 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 buying an additional 80 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Marathon Petroleum in the 3rd quarter valued at about $30,000. Wellington Shields & Co. LLC acquired a new stake in shares of Marathon Petroleum during the first quarter valued at about $40,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Marathon Petroleum during the second quarter worth about $35,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

MPC stock opened at $159.98 on Tuesday. The stock’s fifty day moving average is $159.00 and its two-hundred day moving average is $168.10. The stock has a market capitalization of $51.42 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.74 and a beta of 1.38. 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 Co. has a 1 year low of $140.98 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its earnings results 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 firm had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum’s revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $8.14 EPS. On average, research analysts predict that Marathon Petroleum Co. will post 9.59 EPS for the current year.

Marathon Petroleum declared that its board has initiated a stock repurchase plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. 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. Marathon Petroleum’s payout ratio is currently 26.15%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lowered their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Morgan Stanley dropped their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Mizuho dropped 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Two equities 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 currently has a consensus 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.