SageView Advisory Group LLC Sells 364 Shares of Marathon Petroleum Co. (NYSE:MPC)

SageView Advisory Group LLC reduced its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 20.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,393 shares of the oil and gas company’s stock after selling 364 shares during the quarter. SageView Advisory Group LLC’s holdings in Marathon Petroleum were worth $227,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MPC. Raymond James & Associates grew its position in shares of Marathon Petroleum by 2.6% in the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after buying an additional 107,915 shares during the period. Pacer Advisors Inc. boosted its holdings in Marathon Petroleum by 8.8% in the third quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company’s stock worth $473,353,000 after acquiring an additional 235,795 shares in the last quarter. Bank of Montreal Can boosted its stake in Marathon Petroleum by 45.4% in the 3rd quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock worth $217,560,000 after purchasing an additional 415,368 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Marathon Petroleum by 19,153.8% in the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock worth $213,605,000 after buying an additional 1,304,372 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Marathon Petroleum by 6.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,285,248 shares of the oil and gas company’s stock worth $222,965,000 after acquiring an additional 72,192 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $150.94 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The firm has a market capitalization of $48.51 billion, a PE ratio of 11.96, a PEG ratio of 2.61 and a beta of 1.39. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The stock’s fifty day moving average is $156.96 and its 200 day moving average is $165.94.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $34.34 billion. During the same period in the previous year, the company posted $8.14 earnings per share. The firm’s quarterly revenue was down 14.9% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 9.5 earnings per share for the current year.

Marathon Petroleum declared that its Board of Directors has authorized a share repurchase program 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 buy up to 10% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is currently 28.84%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays lowered their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Mizuho decreased their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Citigroup cut their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of 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 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 currently has a consensus 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.