Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by KKM Financial LLC

by · The Markets Daily

KKM Financial LLC lifted its position in shares of Marathon Petroleum Co. (NYSE:MPC – Free Report) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,249 shares of the oil and gas company’s stock after buying an additional 890 shares during the period. KKM Financial LLC’s holdings in Marathon Petroleum were worth $2,158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in Marathon Petroleum during the 3rd quarter worth $26,000. MeadowBrook Investment Advisors LLC boosted its position in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Marathon Petroleum during the 3rd quarter worth $30,000. Darwin Wealth Management LLC purchased a new stake in Marathon Petroleum during the 3rd quarter worth $33,000. Finally, TruNorth Capital Management LLC purchased a new stake in Marathon Petroleum during the 2nd quarter worth $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. 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. Finally, Scotiabank decreased their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Two 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 given a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $185.07.

View Our Latest Report on Marathon Petroleum

Marathon Petroleum Price Performance

MPC opened at $158.48 on Friday. The firm has a market cap of $50.93 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 2.77 and a beta of 1.38. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The company’s 50-day moving average price is $158.78 and its 200 day moving average price is $167.64. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter last year, the business earned $8.14 earnings per share. Marathon Petroleum’s revenue was down 14.9% compared to the same quarter last year. As a group, sell-side analysts expect that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has approved a stock repurchase plan 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 reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

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

Marathon Petroleum Company Profile

(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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