Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,418,012 shares of the oil and gas company's stock after selling 30,360 shares during the period. Charles Schwab Investment Management Inc. owned about 0.75% of Marathon Petroleum worth $393,918,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MPC. Gladius Capital Management LP acquired a new position in shares of Marathon Petroleum during the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC raised its stake 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 buying an additional 80 shares during the period. Harbor Capital Advisors Inc. bought a new position in Marathon Petroleum in the third quarter worth approximately $30,000. Wellington Shields & Co. LLC acquired a new stake in Marathon Petroleum in the first quarter valued at approximately $40,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $35,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Down 0.5 %

NYSE:MPC traded down $0.81 on Friday, reaching $158.48. 1,421,230 shares of the stock traded hands, compared to its average volume of 2,247,464. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. The company's fifty day simple moving average is $158.78 and its 200 day simple moving average is $167.64. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $50.93 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.77 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum's revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.14 EPS. Equities analysts predict that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

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 issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.30%. The ex-dividend date is Wednesday, November 20th. This is a boost from Marathon Petroleum's previous quarterly dividend of $0.83. Marathon Petroleum's dividend payout ratio (DPR) is currently 28.84%.

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

Analyst Ratings Changes

MPC has been the topic of a number of recent analyst reports. 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 note on Wednesday, October 9th. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a "buy" rating to a "sell" rating in a research note on Monday, September 9th. Citigroup dropped their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research note on Thursday, October 10th. Bank of America started coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a "neutral" rating and a $174.00 price objective for the company. Finally, Piper Sandler cut their price target on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average 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.