Turtle Creek Wealth Advisors LLC Has $4.81 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

Turtle Creek Wealth Advisors LLC increased its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 29,520 shares of the oil and gas company’s stock after acquiring an additional 825 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $4,809,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MPC. Spirepoint Private Client LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter valued at about $226,000. TIAA Trust National Association grew its holdings in Marathon Petroleum by 38.2% in the 1st quarter. TIAA Trust National Association now owns 10,800 shares of the oil and gas company’s stock valued at $2,176,000 after buying an additional 2,985 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Marathon Petroleum by 7.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock valued at $335,241,000 after buying an additional 117,790 shares during the last quarter. Cynosure Group LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at approximately $962,000. Finally, Trustmark National Bank Trust Department grew its holdings in Marathon Petroleum by 17.0% in the 1st quarter. Trustmark National Bank Trust Department now owns 8,420 shares of the oil and gas company’s stock valued at $1,697,000 after buying an additional 1,222 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MPC. Morgan Stanley lowered their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Mizuho lowered their target price on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company lowered their target price on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Citigroup reduced their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Finally, Barclays reduced their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.07.

Marathon Petroleum Price Performance

MPC traded down $0.62 during trading on Friday, hitting $157.52. The company’s stock had a trading volume of 2,258,883 shares, compared to its average volume of 2,653,613. The firm’s 50 day moving average price is $159.06 and its two-hundred day moving average price is $168.43. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. The stock has a market capitalization of $50.63 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 2.82 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) 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 quarter in the previous year, the company posted $8.14 EPS. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. Sell-side analysts forecast that Marathon Petroleum Co. will post 9.41 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $0.91 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.31%. Marathon Petroleum’s payout ratio is presently 26.15%.

Marathon Petroleum announced that its board has approved a stock buyback 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 purchase up to 10% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.