CWA Asset Management Group LLC Acquires New Shares in Marathon Petroleum Co. (NYSE:MPC)

CWA Asset Management Group LLC purchased a new position in Marathon Petroleum Co. (NYSE:MPC - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,907 shares of the oil and gas company's stock, valued at approximately $1,451,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Equitable Trust Co. grew its holdings in shares of Marathon Petroleum by 212.8% in the third quarter. Equitable Trust Co. now owns 5,145 shares of the oil and gas company's stock worth $838,000 after purchasing an additional 3,500 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Marathon Petroleum during the 3rd quarter valued at $52,000. Comprehensive Financial Consultants Institutional Inc. grew its holdings in Marathon Petroleum by 1.1% in the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 26,960 shares of the oil and gas company's stock worth $4,392,000 after acquiring an additional 295 shares during the last quarter. AIA Group Ltd increased its position in shares of Marathon Petroleum by 1.7% in the third quarter. AIA Group Ltd now owns 11,700 shares of the oil and gas company's stock valued at $1,906,000 after acquiring an additional 200 shares during the period. Finally, Lifestyle Asset Management Inc. increased its position in shares of Marathon Petroleum by 4.7% in the third quarter. Lifestyle Asset Management Inc. now owns 5,969 shares of the oil and gas company's stock valued at $972,000 after acquiring an additional 268 shares during the period. Institutional investors own 76.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MPC. Morgan Stanley cut their target price on Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating on the stock in a research note on Monday, September 16th. Barclays cut their price objective on Marathon Petroleum from $180.00 to $168.00 and set an "overweight" rating on the stock in a research report on Thursday, October 10th. Piper Sandler reduced their target price on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, September 20th. Jefferies Financial Group raised their price target on Marathon Petroleum from $222.00 to $231.00 and gave the stock a "buy" rating in a research note on Monday, July 15th. Finally, Mizuho reduced their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $185.67.

Marathon Petroleum Stock Down 0.2 %

Shares of MPC stock traded down $0.25 during trading hours on Friday, hitting $153.75. 1,718,368 shares of the company's stock traded hands, compared to its average volume of 2,396,236. The company has a quick ratio of 0.90, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock's fifty day simple moving average is $160.49 and its two-hundred day simple moving average is $169.69. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11. The stock has a market cap of $49.41 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 2.97 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion during the quarter, compared to analysts' expectations of $34.34 billion. During the same quarter in the previous year, the business earned $8.14 earnings per share. The firm's quarterly revenue was down 14.9% compared to the same quarter last year. On average, analysts expect that Marathon Petroleum Co. will post 8.71 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a $0.91 dividend. This is a boost from Marathon Petroleum's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.37%. Marathon Petroleum's payout ratio is presently 26.15%.

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

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.