Darwin Wealth Management LLC Acquires Shares of 200 Marathon Petroleum Co. (NYSE:MPC)

Darwin Wealth Management LLC bought a new position in shares of Marathon Petroleum Co. (NYSE:MPC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 200 shares of the oil and gas company’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors have also modified their holdings of MPC. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum during the third quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC boosted its stake in 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 valued at $28,000 after purchasing an additional 80 shares during the period. Crewe Advisors LLC acquired a new position in Marathon Petroleum in the 1st quarter valued at $29,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum during the third quarter worth $30,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Marathon Petroleum in the second quarter valued at about $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.1 %

Shares of Marathon Petroleum stock opened at $159.49 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 stock has a market capitalization of $51.26 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.76 and a beta of 1.38. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The stock’s 50-day simple moving average is $158.88 and its 200 day simple moving average is $167.81.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS 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 company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. During the same period last year, the firm earned $8.14 EPS. Marathon Petroleum’s revenue for the quarter was down 14.9% on a year-over-year basis. As a group, research analysts anticipate that Marathon Petroleum Co. will post 9.59 EPS for the current year.

Marathon Petroleum announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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. 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 2.28%. Marathon Petroleum’s dividend payout ratio is 26.15%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MPC. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. 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. Citigroup cut their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Piper Sandler decreased their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Finally, Scotiabank reduced their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. 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.