Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 49.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 256,235 shares of the oil and gas company’s stock after selling 251,142 shares during the period. Jacobs Levy Equity Management Inc. owned 0.08% of Marathon Petroleum worth $41,743,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. International Assets Investment Management LLC lifted its holdings in Marathon Petroleum by 19,153.8% in the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock worth $213,605,000 after acquiring an additional 1,304,372 shares during the last quarter. Granite Bay Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $219,537,000. ING Groep NV acquired a new position in Marathon Petroleum during the 3rd quarter valued at approximately $114,107,000. Assenagon Asset Management S.A. increased its position in Marathon Petroleum by 980.3% in the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after buying an additional 621,336 shares during the period. Finally, Bank of Montreal Can lifted its stake in Marathon Petroleum by 45.4% in the third quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock valued at $217,560,000 after buying an additional 415,368 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC opened at $155.52 on Wednesday. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11. The stock has a market capitalization of $49.98 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.74 and a beta of 1.39. The firm’s 50 day moving average is $157.71 and its 200-day moving average is $166.41. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.14 earnings per share. Equities research analysts anticipate that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

Marathon Petroleum announced that its board has initiated a stock buyback program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management 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. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.34%. Marathon Petroleum’s dividend payout ratio (DPR) is 28.84%.

Wall Street Analyst Weigh In

MPC has been the topic of a number of analyst reports. Bank of America assumed coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective on the stock. BMO Capital Markets cut their price target on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company decreased their price objective on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Finally, Scotiabank decreased their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.07.

Marathon Petroleum 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.