Marathon Petroleum Co. (NYSE:MPC) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP grew its position in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 29.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,082 shares of the oil and gas company's stock after purchasing an additional 5,232 shares during the period. Quantinno Capital Management LP's holdings in Marathon Petroleum were worth $3,760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gladius Capital Management LP acquired a new position in Marathon Petroleum in the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC grew its holdings in shares of Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC increased its stake in Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock worth $28,000 after buying an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Marathon Petroleum during the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC purchased a new position in Marathon Petroleum in the 3rd quarter valued at approximately $33,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MPC shares. Tudor Pickering lowered Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a report on Monday, September 9th. Scotiabank lowered their price objective on Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Piper Sandler reduced their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, September 20th. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a "buy" rating to a "sell" rating in a research note on Monday, September 9th. Finally, Bank of America assumed coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They issued a "neutral" rating and a $174.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and an average price target of $185.27.

Marathon Petroleum Stock Performance

Shares of MPC stock traded up $2.07 during midday trading on Monday, hitting $153.01. The company had a trading volume of 2,526,933 shares, compared to its average volume of 2,612,945. Marathon Petroleum Co. has a 52-week low of $141.45 and a 52-week high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The company's 50 day simple moving average is $156.96 and its 200 day simple moving average is $165.87. The stock has a market cap of $49.18 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 2.65 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company had revenue of $35.37 billion for the quarter, compared to analysts' expectations of $34.34 billion. During the same period in the previous year, the company posted $8.14 EPS. Marathon Petroleum's revenue was down 14.9% compared to the same quarter last year. Research analysts anticipate that Marathon Petroleum Co. will post 9.5 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 given a dividend of $0.91 per share. This is a positive change from Marathon Petroleum's previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum's payout ratio is presently 28.84%.

Marathon Petroleum declared that its Board of Directors has authorized 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 reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Marathon Petroleum

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now directly owns 6,090 shares of the company's stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.21% of the company's stock.

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.