KBC Group NV Lowers Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

KBC Group NV trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 60.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,848 shares of the oil and gas company's stock after selling 219,454 shares during the quarter. KBC Group NV's holdings in Marathon Petroleum were worth $23,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of MPC. WR Wealth Planners LLC grew its holdings in shares of Marathon Petroleum by 15.2% during the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company's stock worth $75,000 after purchasing an additional 57 shares during the last quarter. Legacy Advisors LLC increased its stake in shares of Marathon Petroleum by 5.0% in the 2nd quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company's stock valued at $215,000 after buying an additional 59 shares during the period. Latitude Advisors LLC raised its position in shares of Marathon Petroleum by 3.6% during the second quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company's stock worth $297,000 after acquiring an additional 60 shares during the last quarter. SouthState Corp lifted its stake in shares of Marathon Petroleum by 1.5% during the second quarter. SouthState Corp now owns 4,122 shares of the oil and gas company's stock valued at $715,000 after acquiring an additional 61 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Marathon Petroleum by 0.9% in the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company's stock valued at $1,268,000 after acquiring an additional 61 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MPC has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price 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. Scotiabank reduced their target price on shares of Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Barclays reduced their price objective on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Tudor, Pickering, Holt & Co. lowered Marathon Petroleum from a "buy" rating to a "sell" rating in a report on Monday, September 9th. Finally, BMO Capital Markets lowered their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $185.07.

Marathon Petroleum Trading Down 0.4 %

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

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion for the quarter, compared to analysts' expectations of $34.34 billion. During the same quarter in the previous year, the firm earned $8.14 earnings per share. The business's revenue was down 14.9% on a year-over-year basis. Sell-side analysts predict that Marathon Petroleum Co. will post 9.41 EPS for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has approved a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.91 per share. This is a boost from Marathon Petroleum's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.31%. Marathon Petroleum's dividend payout ratio is 28.84%.

Marathon Petroleum Company 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.