Empowered Funds LLC Has $39.38 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Empowered Funds LLC boosted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 25.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 241,707 shares of the oil and gas company's stock after acquiring an additional 49,689 shares during the quarter. Marathon Petroleum makes up approximately 0.6% of Empowered Funds LLC's portfolio, making the stock its 14th largest holding. Empowered Funds LLC owned 0.07% of Marathon Petroleum worth $39,376,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MPC. Founders Financial Securities LLC raised its holdings in shares of Marathon Petroleum by 22.8% during the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company's stock valued at $863,000 after purchasing an additional 924 shares in the last quarter. Holistic Planning LLC acquired a new stake in shares of Marathon Petroleum in the third quarter worth $912,000. LRI Investments LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter worth $97,000. Magnolia Capital Advisors LLC grew its stake in Marathon Petroleum by 353.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company's stock valued at $9,713,000 after buying an additional 43,639 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Marathon Petroleum by 27.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company's stock worth $7,033,000 after acquiring an additional 9,355 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MPC shares. Bank of America began coverage on Marathon Petroleum in a research note on Thursday, October 17th. They issued a "neutral" rating and a $174.00 price objective on the stock. TD Cowen cut their price target on Marathon Petroleum from $174.00 to $170.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. Piper Sandler cut their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, September 20th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a "buy" rating to a "sell" rating in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $185.07.

Marathon Petroleum Price Performance

NYSE:MPC traded down $0.63 during trading hours on Friday, reaching $157.51. The company had a trading volume of 2,258,783 shares, compared to its average volume of 2,653,613. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock has a 50-day moving average of $159.23 and a two-hundred day moving average of $168.73. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11. The firm has a market capitalization of $50.62 billion, a PE ratio of 12.65, a PEG ratio of 2.82 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the prior year, the firm earned $8.14 EPS. The firm's quarterly revenue was down 14.9% compared to the same quarter last year. Analysts forecast that Marathon Petroleum Co. will post 9.41 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The firm 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 dividend of $0.91 per share. The ex-dividend date is Wednesday, November 20th. This is a positive change from Marathon Petroleum's previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 2.31%. Marathon Petroleum's dividend payout ratio is 26.15%.

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.