RIA Advisory Group LLC Acquires New Position in Marathon Petroleum Co. (NYSE:MPC)

RIA Advisory Group LLC purchased a new position in Marathon Petroleum Co. (NYSE:MPC - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,303 shares of the oil and gas company's stock, valued at approximately $2,004,000. Marathon Petroleum accounts for 0.7% of RIA Advisory Group LLC's portfolio, making the stock its 21st biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $29,000. MeadowBrook Investment Advisors LLC grew its position 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 valued at $28,000 after buying an additional 80 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Marathon Petroleum during the third quarter valued at approximately $30,000. Wellington Shields & Co. LLC bought a new position in Marathon Petroleum in the first quarter worth approximately $40,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of Marathon Petroleum during the 2nd quarter worth $35,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Shares of MPC traded down $0.62 during mid-day trading on Friday, hitting $157.52. 2,258,883 shares of the stock were exchanged, compared to its average volume of 2,653,613. The firm has a 50-day moving average of $159.06 and a two-hundred day moving average of $168.43. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a market cap of $50.63 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 2.82 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data 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 business 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%. Marathon Petroleum's quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $8.14 earnings per share. On average, equities analysts predict that Marathon Petroleum Co. will post 9.41 earnings per share for the current year.

Marathon Petroleum declared that its board has initiated a share buyback plan on Tuesday, November 5th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, November 20th. This is a positive change from Marathon Petroleum's previous quarterly dividend of $0.83. Marathon Petroleum's dividend payout ratio (DPR) is 28.84%.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of recent research reports. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a "buy" rating to a "sell" rating in a report on Monday, September 9th. Mizuho lowered their price objective on Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Bank of America began coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They set a "neutral" rating and a $174.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Marathon Petroleum from $196.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.