Summit Trail Advisors LLC Has $2.35 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Summit Trail Advisors LLC lowered its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,429 shares of the oil and gas company’s stock after selling 1,326 shares during the period. Summit Trail Advisors LLC’s holdings in Marathon Petroleum were worth $2,351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MPC. International Assets Investment Management LLC lifted its stake in shares of Marathon Petroleum by 19,153.8% during the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after acquiring an additional 1,304,372 shares during the period. Granite Bay Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $219,537,000. ING Groep NV acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $114,107,000. Assenagon Asset Management S.A. grew its position in shares of Marathon Petroleum by 980.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after buying an additional 621,336 shares during the period. Finally, Panagora Asset Management Inc. grew its position in shares of Marathon Petroleum by 64.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after buying an additional 241,746 shares during the period. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. 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. BMO Capital Markets decreased their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Mizuho decreased their price objective 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. Wells Fargo & Company cut their price target on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Bank of America began coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $185.07.

Marathon Petroleum Stock Performance

NYSE MPC opened at $158.48 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The firm’s fifty day moving average price is $158.78 and its two-hundred day moving average price is $167.46. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The firm has a market capitalization of $50.93 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 2.75 and a beta of 1.38.

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 (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same period in the prior year, the firm posted $8.14 earnings per share. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. As a group, research analysts anticipate that Marathon Petroleum Co. will post 9.59 EPS for the current year.

Marathon Petroleum declared that its board has approved a stock buyback plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed 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. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s payout ratio is currently 28.84%.

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.