Sustainable Insight Capital Management LLC Has $1.27 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Sustainable Insight Capital Management LLC lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 333.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,800 shares of the oil and gas company's stock after purchasing an additional 6,000 shares during the period. Sustainable Insight Capital Management LLC's holdings in Marathon Petroleum were worth $1,271,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Crewe Advisors LLC bought a new position in shares of Marathon Petroleum in the 1st quarter valued at about $29,000. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum during the third quarter worth approximately $30,000. TruNorth Capital Management LLC bought a new stake in Marathon Petroleum in the second quarter valued at approximately $35,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $35,000. Finally, Wellington Shields & Co. LLC bought a new position in shares of Marathon Petroleum during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MPC. Citigroup decreased 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. Barclays lowered their target price on Marathon Petroleum from $180.00 to $168.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company reduced their price target on Marathon Petroleum from $196.00 to $183.00 and set an "overweight" rating for the company in a research note on Wednesday, October 9th. Mizuho lowered their price objective on Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Finally, Piper Sandler reduced their target price on shares of 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 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $185.67.

Marathon Petroleum Price Performance

NYSE MPC traded down $0.25 on Friday, hitting $153.75. 1,718,368 shares of the company's stock were exchanged, compared to its average volume of 2,396,236. The stock has a 50-day moving average of $160.49 and a 200-day moving average of $169.69. The stock has a market cap of $49.41 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 2.97 and a beta of 1.38. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The company has a current ratio of 1.23, a quick ratio of 0.90 and a debt-to-equity ratio of 0.94.

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 for the quarter, topping the consensus estimate of $0.97 by $0.90. The business 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 for the quarter was down 14.9% on a year-over-year basis. During the same period in the prior year, the company earned $8.14 EPS. Analysts expect that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum declared that its Board of Directors has initiated a stock repurchase program 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 purchase up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

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 $0.91 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.37%. This is a positive change from Marathon Petroleum's previous quarterly dividend of $0.83. Marathon Petroleum's dividend payout ratio (DPR) is currently 26.15%.

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.