Great Valley Advisor Group Inc. Sells 441 Shares of Marathon Petroleum Co. (NYSE:MPC)

Great Valley Advisor Group Inc. lessened its position in Marathon Petroleum Co. (NYSE:MPC) by 20.1% in the third quarter, HoldingsChannel.com reports. The fund owned 1,754 shares of the oil and gas company’s stock after selling 441 shares during the period. Great Valley Advisor Group Inc.’s holdings in Marathon Petroleum were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of MPC. Gladius Capital Management LP bought a new position in shares of Marathon Petroleum in the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC grew its position in shares of Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum during the 3rd quarter worth about $30,000. Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the 3rd quarter worth about $33,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $155.33 on Thursday. The firm has a 50 day moving average of $158.36 and a 200-day moving average of $167.03. The stock has a market capitalization of $49.92 billion, a PE ratio of 12.31, a PEG ratio of 2.72 and a beta of 1.38. 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 12 month low of $140.98 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its 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. The company had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the previous year, the company earned $8.14 EPS. On average, equities research analysts predict that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.34%. Marathon Petroleum’s dividend payout ratio is 28.84%.

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

Analysts Set New Price Targets

MPC has been the subject of several research analyst reports. BMO Capital Markets reduced their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Barclays reduced their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Bank of America initiated coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price for the company. Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Finally, Scotiabank dropped 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 note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum presently 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.