Stifel Financial Corp Cuts Holdings in Marathon Petroleum Co. (NYSE:MPC)

Stifel Financial Corp lessened its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 8.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 180,046 shares of the oil and gas company's stock after selling 15,946 shares during the quarter. Stifel Financial Corp owned 0.06% of Marathon Petroleum worth $29,331,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum in the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC raised its stake 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 worth $28,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum in the third quarter worth about $30,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the third quarter worth about $33,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC traded up $2.04 during trading on Monday, reaching $152.98. The stock had a trading volume of 2,527,123 shares, compared to its average volume of 2,613,382. 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 business has a fifty day moving average price of $156.96 and a 200-day moving average price of $165.87. The stock has a market cap of $49.17 billion, a PE ratio of 12.13, a PEG ratio of 2.65 and a beta of 1.40. Marathon Petroleum Co. has a 1-year low of $141.45 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. The firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business's revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $8.14 earnings per share. On average, equities analysts forecast that Marathon Petroleum Co. will post 9.5 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has initiated a stock buyback plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding 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 often a sign that the company's management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.38%. This is a positive change from Marathon Petroleum's previous quarterly dividend of $0.83. Marathon Petroleum's payout ratio is 28.84%.

Insiders Place Their Bets

In other Marathon Petroleum 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 in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating for the company in a research note on Monday, September 16th. Mizuho reduced their price target on Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a "buy" rating to a "sell" rating in a research report on Monday, September 9th. Barclays reduced their price target 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. Finally, Piper Sandler cut their price objective on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $185.27.

About Marathon Petroleum

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.