1,765 Shares in Marathon Petroleum Co. (NYSE:MPC) Purchased by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA acquired a new position in Marathon Petroleum Co. (NYSE:MPC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,765 shares of the oil and gas company’s stock, valued at approximately $288,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its stake in shares of Marathon Petroleum by 27.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after buying an additional 9,355 shares during the last quarter. Founders Financial Securities LLC grew its stake in shares of Marathon Petroleum by 22.8% in the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after acquiring an additional 924 shares during the last quarter. Holistic Planning LLC bought a new position in shares of Marathon Petroleum during the third quarter valued at $912,000. Magnolia Capital Advisors LLC raised its position in shares of Marathon Petroleum by 353.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares during the last quarter. Finally, Granite Bay Wealth Management LLC bought a new position in Marathon Petroleum in the 2nd quarter worth about $4,075,000. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective 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. TD Cowen reduced their price target on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. BMO Capital Markets lowered their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Barclays reduced their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $185.07.

Marathon Petroleum Price Performance

NYSE MPC opened at $155.33 on Thursday. 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 market capitalization of $49.92 billion, a P/E ratio of 12.31, a PEG ratio of 2.72 and a beta of 1.38. The company has a 50-day moving average price of $158.36 and a 200-day moving average price of $167.03. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share 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 business had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same period last year, the firm earned $8.14 earnings per share. The company’s quarterly revenue was down 14.9% on a year-over-year basis. Equities research analysts anticipate 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 issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is currently 28.84%.

Marathon Petroleum declared that its board has authorized a share buyback plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.