ING Groep NV Buys Shares of 700,429 Marathon Petroleum Co. (NYSE:MPC)

ING Groep NV purchased a new stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 700,429 shares of the oil and gas company's stock, valued at approximately $114,107,000. Marathon Petroleum accounts for about 0.7% of ING Groep NV's portfolio, making the stock its 22nd biggest position. ING Groep NV owned about 0.21% of Marathon Petroleum at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MPC. Kingsview Wealth Management LLC grew its position in shares of Marathon Petroleum by 11.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 20,131 shares of the oil and gas company's stock worth $4,056,000 after purchasing an additional 2,005 shares in the last quarter. Great Lakes Retirement Inc. acquired a new position in shares of Marathon Petroleum during the 1st quarter worth approximately $269,000. Gratus Wealth Advisors LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter worth approximately $245,000. Reston Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 1st quarter worth approximately $273,000. Finally, Wintrust Investments LLC boosted its position in shares of Marathon Petroleum by 101.9% during the 1st quarter. Wintrust Investments LLC now owns 16,533 shares of the oil and gas company's stock worth $3,331,000 after acquiring an additional 8,343 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Down 0.6 %

NYSE:MPC traded down $0.97 during trading hours on Thursday, reaching $158.14. The company had a trading volume of 1,790,590 shares, compared to its average volume of 2,655,397. 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 firm has a market cap of $50.82 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 2.75 and a beta of 1.38. The business's 50-day simple moving average is $159.44 and its two-hundred day simple moving average is $168.80. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. The business 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 quarterly revenue was down 14.9% on a year-over-year basis. During the same period last year, the company posted $8.14 earnings per share. On average, equities analysts expect that Marathon Petroleum Co. will post 9.41 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 an increase from Marathon Petroleum's previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.30%. Marathon Petroleum's payout ratio is presently 26.15%.

Marathon Petroleum announced that its Board of Directors has initiated a share buyback 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 purchase up to 10% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MPC shares. Tudor Pickering lowered shares of Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, September 9th. Mizuho reduced their price target 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. JPMorgan Chase & Co. cut their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Citigroup cut their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research report on Thursday, October 10th. Finally, Morgan Stanley cut their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an "overweight" 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently 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.