Alpha DNA Investment Management LLC Increases Stake in Marathon Petroleum Co. (NYSE:MPC)

by · The Cerbat Gem

Alpha DNA Investment Management LLC boosted its stake in Marathon Petroleum Co. (NYSE:MPC – Free Report) by 14.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,846 shares of the oil and gas company’s stock after purchasing an additional 355 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Marathon Petroleum were worth $464,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth $26,000. MeadowBrook Investment Advisors LLC increased its stake in Marathon Petroleum by 88.9% during the third 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. purchased a new position in shares of Marathon Petroleum in the 3rd quarter worth about $30,000. Darwin Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at about $33,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.5 %

MPC stock opened at $158.48 on Monday. The company has a market capitalization of $50.93 billion, a P/E ratio of 12.56, a PEG ratio of 2.75 and a beta of 1.38. The firm has a 50 day simple moving average of $158.78 and a 200-day simple moving average of $167.46. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11.

Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. During the same period last year, the business earned $8.14 EPS. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has authorized a share buyback program on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.30%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is presently 28.84%.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Scotiabank reduced their target price on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Morgan Stanley reduced their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, Citigroup lowered their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.07.

Read Our Latest Stock Analysis on MPC

About Marathon Petroleum

(Free Report)

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.

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