Mutual of America Capital Management LLC Lowers Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Mutual of America Capital Management LLC decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 16.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,596 shares of the oil and gas company's stock after selling 8,824 shares during the quarter. Mutual of America Capital Management LLC's holdings in Marathon Petroleum were worth $7,428,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in shares of Marathon Petroleum by 27.7% in the third 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 period. Founders Financial Securities LLC raised its holdings in Marathon Petroleum by 22.8% in the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company's stock worth $863,000 after purchasing an additional 924 shares during the period. Holistic Planning LLC purchased a new position in Marathon Petroleum during the third quarter worth approximately $912,000. LRI Investments LLC acquired a new stake in Marathon Petroleum in the first quarter valued at approximately $97,000. Finally, Magnolia Capital Advisors LLC increased its position in shares of Marathon Petroleum by 353.4% in the second 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 in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MPC shares. Bank of America assumed coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a "neutral" rating and a $174.00 price target on the stock. Morgan Stanley dropped their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their price target 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. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a "buy" rating to a "sell" rating in a research note on Monday, September 9th. Finally, Citigroup dropped their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $185.07.

Marathon Petroleum Trading Down 0.4 %

MPC stock traded down $0.70 during trading on Tuesday, reaching $159.22. 872,994 shares of the stock were exchanged, compared to its average volume of 2,643,191. The business has a 50 day moving average price of $159.00 and a 200-day moving average price of $168.10. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. 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 firm has a market capitalization of $51.17 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 2.74 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued 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 company had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. During the same period in the prior year, the business posted $8.14 earnings per share. The firm's revenue for the quarter was down 14.9% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

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 $0.91 dividend. This is a positive change from Marathon Petroleum's previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum's payout ratio is 26.15%.

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

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.