Avestar Capital LLC Acquires 208 Shares of Marathon Petroleum Co. (NYSE:MPC)

Avestar Capital LLC increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 8.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,689 shares of the oil and gas company’s stock after acquiring an additional 208 shares during the period. Avestar Capital LLC’s holdings in Marathon Petroleum were worth $438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Gladius Capital Management LP acquired a new position in shares of Marathon Petroleum in the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC grew its holdings in shares of Marathon Petroleum by 88.9% in 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 last quarter. Harbor Capital Advisors Inc. bought a new position in Marathon Petroleum during the 3rd quarter valued at about $30,000. Darwin Wealth Management LLC bought a new stake in Marathon Petroleum during the third quarter worth about $33,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Marathon Petroleum during the second quarter worth approximately $35,000. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Mizuho decreased their price target on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. BMO Capital Markets lowered their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Barclays cut their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Finally, Morgan Stanley dropped their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.07.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $157.13 on Wednesday. The firm has a market capitalization of $50.50 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 2.72 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 quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a fifty day moving average of $158.55 and a 200-day moving average of $167.11.

Marathon Petroleum (NYSE:MPC) last announced 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 return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. During the same period in the prior year, the company earned $8.14 earnings per share. The company’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, equities research analysts forecast that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business 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 $0.91 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.32%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is presently 28.84%.

Marathon Petroleum announced that its Board of Directors has approved a share repurchase 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 purchase up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.