Plato Investment Management Ltd Cuts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Plato Investment Management Ltd lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 84.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 300 shares of the oil and gas company’s stock after selling 1,617 shares during the quarter. Plato Investment Management Ltd’s holdings in Marathon Petroleum were worth $60,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth $25,000. FinTrust Capital Advisors LLC grew its holdings in shares of Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum during the first quarter worth $29,000. ICA Group Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth $30,000. Finally, Vima LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 2.2 %

Shares of MPC stock traded down $3.84 during trading hours on Thursday, reaching $173.18. 1,339,658 shares of the stock were exchanged, compared to its average volume of 2,656,703. The business’s fifty day moving average is $171.78 and its two-hundred day moving average is $178.51. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. Marathon Petroleum Co. has a 12-month low of $133.65 and a 12-month high of $221.11. The firm has a market capitalization of $61.02 billion, a P/E ratio of 8.65, a P/E/G ratio of 2.15 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.53 by $0.25. The company had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $6.09 earnings per share. As a group, research analysts expect that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 1.91%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Marathon Petroleum declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of analyst reports. Barclays dropped their price objective on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Raymond James decreased their target price on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. Finally, Mizuho decreased their target price on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $193.64.

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.