Charles Schwab Investment Management Inc. Has $393.92 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

Charles Schwab Investment Management Inc. decreased its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,418,012 shares of the oil and gas company’s stock after selling 30,360 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.75% of Marathon Petroleum worth $393,918,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of MPC. Gladius Capital Management LP bought a new stake in Marathon Petroleum in the third quarter valued at $26,000. MeadowBrook Investment Advisors LLC grew its stake 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 valued at $28,000 after buying an additional 80 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum in the 3rd quarter valued at about $30,000. Darwin Wealth Management LLC bought a new position in Marathon Petroleum in the third quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC acquired a new stake in Marathon Petroleum in the second quarter valued at approximately $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.5 %

Shares of NYSE MPC opened at $158.48 on Friday. The business has a 50-day simple moving average of $158.78 and a two-hundred day simple moving average of $167.64. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The company has a market cap of $50.93 billion, a P/E ratio of 12.56, a P/E/G ratio of 2.77 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. The firm had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same period last year, the firm earned $8.14 EPS. Research analysts anticipate that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $0.91 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is currently 28.84%.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on MPC shares. Morgan Stanley cut their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Mizuho decreased 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. 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. Finally, Bank of America started coverage on Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.