Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 20.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,702 shares of the oil and gas company's stock after selling 5,464 shares during the quarter. Mizuho Securities USA LLC's holdings in Marathon Petroleum were worth $3,535,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MPC. Gladius Capital Management LP purchased a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $26,000. MeadowBrook Investment Advisors LLC boosted its stake in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 80 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Marathon Petroleum during the third quarter worth $30,000. Darwin Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the third quarter valued at about $33,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of Marathon Petroleum in the second quarter worth about $35,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Down 0.5 %

Shares of NYSE MPC traded down $0.81 during trading on Friday, reaching $158.48. The stock had a trading volume of 1,421,230 shares, compared to its average volume of 2,247,464. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a market cap of $50.93 billion, a P/E ratio of 12.56, a PEG ratio of 2.77 and a beta of 1.38. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The business's 50-day moving average price is $158.78 and its 200-day moving average price is $167.64.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum's revenue was down 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $8.14 EPS. On average, equities research analysts predict that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

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

Marathon Petroleum Increases Dividend

The firm also recently declared 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. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.30%. Marathon Petroleum's payout ratio is 28.84%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MPC. Bank of America began coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They set a "neutral" rating and a $174.00 price objective for the company. Morgan Stanley cut their price target on Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating for the company in a report on Monday, September 16th. Wells Fargo & Company lowered their price objective on Marathon Petroleum from $196.00 to $183.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 9th. Barclays lowered their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. Finally, Mizuho cut their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $185.07.

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.