Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 846,308 shares of the oil and gas company's stock after selling 10,590 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Marathon Petroleum worth $137,872,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Crewe Advisors LLC acquired a new position in shares of Marathon Petroleum in the first quarter valued at approximately $29,000. Harbor Capital Advisors Inc. bought a new position in Marathon Petroleum during the 3rd quarter worth about $30,000. Wellington Shields & Co. LLC bought a new stake in shares of Marathon Petroleum in the first quarter valued at about $40,000. TruNorth Capital Management LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth about $35,000. Finally, Industrial Alliance Investment Management Inc. bought a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $35,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Up 2.5 %

Shares of MPC traded up $3.90 during trading hours on Wednesday, hitting $159.11. 2,194,186 shares of the stock were exchanged, compared to its average volume of 2,658,976. 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 business has a 50-day moving average of $159.69 and a 200-day moving average of $168.87. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The firm has a market capitalization of $51.14 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 2.75 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data 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 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%. The business's revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.14 EPS. On average, research analysts expect that Marathon Petroleum Co. will post 9.41 EPS for the current year.

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

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $0.91 dividend. This is a boost 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 yield of 2.29%. Marathon Petroleum's dividend payout ratio (DPR) is presently 26.15%.

Wall Street Analysts Forecast Growth

MPC has been the topic of several recent research reports. 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 note on Monday. Piper Sandler decreased their price target on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, September 20th. BMO Capital Markets dropped their price objective on Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. Mizuho lowered their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Finally, Wells Fargo & Company cut their price objective on Marathon Petroleum from $196.00 to $183.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $185.07.

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.