OneDigital Investment Advisors LLC Has $3.27 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

OneDigital Investment Advisors LLC lowered its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 5.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 20,098 shares of the oil and gas company’s stock after selling 1,078 shares during the period. OneDigital Investment Advisors LLC’s holdings in Marathon Petroleum were worth $3,274,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Oak Harbor Wealth Partners LLC boosted its position in Marathon Petroleum by 0.6% in the third quarter. Oak Harbor Wealth Partners LLC now owns 12,775 shares of the oil and gas company’s stock valued at $2,081,000 after buying an additional 73 shares in the last quarter. ING Groep NV acquired a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $114,107,000. MeadowBrook Investment Advisors LLC grew its position in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 80 shares during the last quarter. Planning Capital Management Corp bought a new position in Marathon Petroleum in the third quarter valued at about $66,000. Finally, Zions Bancorporation N.A. boosted its stake in shares of Marathon Petroleum by 22.9% during the third quarter. Zions Bancorporation N.A. now owns 1,822 shares of the oil and gas company’s stock valued at $297,000 after purchasing an additional 340 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Trading Down 0.4 %

MPC opened at $157.52 on Friday. The company has a market cap of $50.63 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 2.82 and a beta of 1.38. The company has a fifty day moving average price of $159.06 and a two-hundred day moving average price of $168.43. 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 1-year low of $140.98 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same period in the prior year, the business earned $8.14 EPS. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. Analysts predict that Marathon Petroleum Co. will post 9.41 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is 28.84%.

Marathon Petroleum declared that its Board of Directors has initiated a share repurchase plan 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 repurchase up to 10% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on MPC shares. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Citigroup cut their price target 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. Bank of America assumed coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective for the company. Scotiabank cut their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Wells Fargo & Company lowered their price objective on 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 investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price 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.