OneDigital Investment Advisors LLC Sells 1,078 Shares of Marathon Petroleum Co. (NYSE:MPC)

OneDigital Investment Advisors LLC cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,098 shares of the oil and gas company’s stock after selling 1,078 shares during the period. OneDigital Investment Advisors LLC’s holdings in Marathon Petroleum were worth $3,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. WR Wealth Planners LLC lifted its position in shares of Marathon Petroleum by 15.2% in the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 57 shares in the last quarter. Legacy Advisors LLC lifted its position in Marathon Petroleum by 5.0% during the 2nd quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock worth $215,000 after buying an additional 59 shares in the last quarter. Latitude Advisors LLC grew its holdings in shares of Marathon Petroleum by 3.6% in the 2nd quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock valued at $297,000 after acquiring an additional 60 shares in the last quarter. SouthState Corp increased its position in shares of Marathon Petroleum by 1.5% in the second quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock valued at $715,000 after acquiring an additional 61 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Marathon Petroleum by 0.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock worth $1,268,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

NYSE:MPC opened at $157.52 on Friday. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. 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 firm’s 50-day simple moving average is $159.06 and its 200 day simple moving average is $168.43. The firm has a market cap of $50.63 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 2.82 and a beta of 1.38.

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, beating analysts’ consensus estimates of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $8.14 earnings per share. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 9.41 earnings per share 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 buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.91 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is 28.84%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MPC shares. TD Cowen lowered their price target on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Mizuho lowered their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Barclays decreased their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Wells Fargo & Company dropped their target price 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. Finally, BMO Capital Markets reduced their price target on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $185.07.

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.