Los Angeles Capital Management LLC Sells 114,493 Shares of Marathon Petroleum Co. (NYSE:MPC)

Los Angeles Capital Management LLC lowered its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 98.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,886 shares of the oil and gas company's stock after selling 114,493 shares during the period. Los Angeles Capital Management LLC's holdings in Marathon Petroleum were worth $307,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Founders Financial Securities LLC boosted its stake in shares of Marathon Petroleum by 22.8% during the second 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 position in Marathon Petroleum in the 3rd quarter valued at approximately $912,000. LRI Investments LLC bought a new position in shares of Marathon Petroleum during the first quarter valued at $97,000. Magnolia Capital Advisors LLC lifted its holdings in Marathon Petroleum by 353.4% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company's stock worth $9,713,000 after buying an additional 43,639 shares during the period. Finally, Granite Bay Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the second quarter worth approximately $4,075,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Tudor Pickering lowered shares of Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, September 9th. Barclays cut their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. TD Cowen reduced their price objective on Marathon Petroleum from $174.00 to $170.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. BMO Capital Markets cut their target price on Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Finally, Scotiabank decreased their price target 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $185.07.

Marathon Petroleum Stock Performance

Shares of MPC stock traded up $2.46 during trading hours on Monday, hitting $159.98. 2,099,377 shares of the company were exchanged, compared to its average volume of 2,651,127. 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 stock has a market capitalization of $51.42 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 2.74 and a beta of 1.38. The firm has a fifty day simple moving average of $159.06 and a 200 day simple moving average of $168.26. 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 announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS 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 was down 14.9% compared to the same quarter last year. During the same period in the prior year, the company posted $8.14 EPS. Research analysts predict that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.28%. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. Marathon Petroleum's dividend payout ratio (DPR) is currently 26.15%.

Marathon Petroleum declared that its board has approved a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.