Van ECK Associates Corp Has $10.67 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Van ECK Associates Corp boosted its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 237.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,402 shares of the oil and gas company's stock after purchasing an additional 48,814 shares during the quarter. Van ECK Associates Corp's holdings in Marathon Petroleum were worth $10,671,000 at the end of the most recent reporting period.

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

Marathon Petroleum Trading Down 0.8 %

Shares of NYSE MPC traded down $1.25 during midday trading on Thursday, reaching $154.00. The stock had a trading volume of 1,755,057 shares, compared to its average volume of 2,671,459. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The company's 50 day moving average price is $161.30 and its 200 day moving average price is $170.32. The firm has a market cap of $51.54 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 2.77 and a beta of 1.38.

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 for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. The firm 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 24.05% and a net margin of 4.79%. The business's revenue was down 14.9% compared to the same quarter last year. During the same period last year, the business posted $8.14 EPS. As a group, sell-side analysts expect that Marathon Petroleum Co. will post 8.71 EPS for the current year.

Marathon Petroleum declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are typically an indication 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. Shareholders of record on Wednesday, November 20th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Marathon Petroleum's previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 2.36%. Marathon Petroleum's payout ratio is 17.34%.

Analyst Upgrades and Downgrades

MPC has been the topic of several analyst reports. Bank of America initiated coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a "neutral" rating and a $174.00 price target on the stock. Mizuho lowered their price target on Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating for the company in a 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. Wolfe Research assumed coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They issued an "outperform" rating and a $200.00 target price for the company. Finally, Scotiabank decreased their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.67.

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.