Cynosure Group LLC Has $1.14 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Cynosure Group LLC lifted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,973 shares of the oil and gas company’s stock after buying an additional 412 shares during the quarter. Cynosure Group LLC’s holdings in Marathon Petroleum were worth $1,136,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum in the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC increased its holdings 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 worth $28,000 after acquiring an additional 80 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum during the 3rd quarter valued at $30,000. Darwin Wealth Management LLC bought a new position in shares of Marathon Petroleum in the third quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC purchased a new position in Marathon Petroleum during the second quarter worth about $35,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Barclays decreased their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Bank of America initiated coverage on Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price for the company. Wells Fargo & Company cut their price objective on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. TD Cowen cut their target price on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.07.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $157.13 on Wednesday. The stock has a market cap of $50.50 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38. 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 fifty day moving average price of $158.55 and a 200-day moving average price of $167.11. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11.

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

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.32%. 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. Marathon Petroleum’s dividend payout ratio is currently 28.84%.

Marathon Petroleum declared that its board has approved a stock repurchase program on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership 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.