Marathon Petroleum Co. (NYSE:MPC) Stock Holdings Trimmed by Cinctive Capital Management LP

Cinctive Capital Management LP decreased its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 27.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,884 shares of the oil and gas company’s stock after selling 47,220 shares during the quarter. Marathon Petroleum comprises 1.1% of Cinctive Capital Management LP’s holdings, making the stock its 8th biggest position. Cinctive Capital Management LP’s holdings in Marathon Petroleum were worth $20,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MPC. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum during the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC lifted 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 valued at $28,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC increased its stake in shares of Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 148 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum during the third quarter worth $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum during the third quarter valued at $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $156.15 on Monday. The business’s 50 day moving average price is $157.98 and its 200-day moving average price is $166.70. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year 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. The firm has a market capitalization of $50.19 billion, a PE ratio of 12.37, a P/E/G ratio of 2.71 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.14 earnings per share. As a group, equities research analysts expect that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.91 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s payout ratio is currently 28.84%.

Marathon Petroleum declared that its board has authorized a share buyback program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on MPC. Scotiabank reduced their price objective on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. TD Cowen decreased their price target on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company dropped their price objective 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. Mizuho lowered their price target 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. Finally, Piper Sandler dropped their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.07.

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.