Marathon Petroleum Co. (NYSE:MPC) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 6.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,746,422 shares of the oil and gas company’s stock after selling 123,293 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.54% of Marathon Petroleum worth $284,510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in Marathon Petroleum in the third quarter valued at approximately $26,000. MeadowBrook Investment Advisors LLC boosted its stake 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 purchasing an additional 80 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Marathon Petroleum during the 3rd quarter worth $30,000. TruNorth Capital Management LLC acquired a new position in Marathon Petroleum in the second quarter valued at $35,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the third quarter valued at about $33,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 0.5 %

Shares of NYSE MPC opened at $156.15 on Friday. The firm’s 50-day moving average is $157.98 and its two-hundred day moving average is $166.80. The company has a market capitalization of $50.18 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 2.70 and a beta of 1.38. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating 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 firm had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. During the same quarter in the prior year, the firm earned $8.14 EPS. Marathon Petroleum’s quarterly revenue was down 14.9% on a year-over-year basis. Equities analysts anticipate that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently announced 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 represents a $3.64 dividend on an annualized basis and a yield of 2.33%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is 28.84%.

Marathon Petroleum declared that its board has authorized a share repurchase plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MPC has been the subject of several analyst reports. Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. BMO Capital Markets cut their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Mizuho lowered their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Morgan Stanley cut their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.