Sigma Planning Corp Grows Position in Marathon Petroleum Co. (NYSE:MPC)

Sigma Planning Corp lifted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,259 shares of the oil and gas company’s stock after purchasing an additional 444 shares during the quarter. Sigma Planning Corp’s holdings in Marathon Petroleum were worth $1,671,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Founders Financial Securities LLC increased its position in shares of Marathon Petroleum by 22.8% during the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 924 shares during the last quarter. LRI Investments LLC bought a new position in Marathon Petroleum during the first quarter valued at approximately $97,000. Holistic Planning LLC purchased a new position in shares of Marathon Petroleum during the third quarter worth approximately $912,000. Magnolia Capital Advisors LLC lifted its holdings 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 acquiring an additional 43,639 shares during the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter valued at $4,075,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 1.5 %

Shares of MPC stock opened at $156.06 on Tuesday. The stock has a fifty day simple moving average of $160.49 and a two-hundred day simple moving average of $169.48. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The firm has a market capitalization of $50.16 billion, a PE ratio of 12.37, a PEG ratio of 2.75 and a beta of 1.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $34.34 billion. During the same period last year, the firm posted $8.14 EPS. The company’s revenue was down 14.9% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Co. will post 9.41 EPS for the current fiscal year.

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

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $0.91 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.33%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is currently 28.84%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MPC. Mizuho lowered their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. BMO Capital Markets dropped their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. TD Cowen reduced 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. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Finally, Jefferies Financial Group lifted their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.07.

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.