TCTC Holdings LLC Sells 3,615 Shares of Marathon Petroleum Co. (NYSE:MPC)

TCTC Holdings LLC decreased its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,364 shares of the oil and gas company's stock after selling 3,615 shares during the period. TCTC Holdings LLC's holdings in Marathon Petroleum were worth $14,395,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum during the first quarter valued at $29,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $30,000. TruNorth Capital Management LLC purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $35,000. Industrial Alliance Investment Management Inc. bought a new position in Marathon Petroleum during the second quarter valued at approximately $35,000. Finally, Wellington Shields & Co. LLC purchased a new stake in Marathon Petroleum in the first quarter worth approximately $40,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on Marathon Petroleum from $196.00 to $183.00 and set an "overweight" rating on the stock in a report on Wednesday, October 9th. Bank of America assumed coverage on Marathon Petroleum in a research report on Thursday, October 17th. They issued a "neutral" rating and a $174.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Scotiabank cut their target price on shares of 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. 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 research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $185.67.

Marathon Petroleum Price Performance

Shares of MPC stock traded down $0.25 during mid-day trading on Friday, hitting $153.75. The company had a trading volume of 1,718,368 shares, compared to its average volume of 2,396,236. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.90. The stock's 50 day moving average price is $160.49 and its 200-day moving average price is $169.89. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The company has a market capitalization of $49.41 billion, a P/E ratio of 12.18, a P/E/G ratio of 2.97 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping 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 business had revenue of $35.37 billion for the quarter, compared to analysts' expectations of $34.34 billion. During the same quarter in the previous year, the company earned $8.14 EPS. The business's quarterly revenue was down 14.9% compared to the same quarter last year. Equities research analysts forecast that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum Increases Dividend

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

Marathon Petroleum announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

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.