Aljian Capital Management LLC Makes New Investment in Marathon Petroleum Co. (NYSE:MPC)

Aljian Capital Management LLC purchased a new position in shares of Marathon Petroleum Co. (NYSE:MPC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,845 shares of the oil and gas company’s stock, valued at approximately $464,000.

A number of other large investors have also made changes to their positions in MPC. Gladius Capital Management LP acquired a new position in Marathon Petroleum in the third quarter valued at about $26,000. MeadowBrook Investment Advisors LLC grew its position in shares of Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 80 shares during the period. Crewe Advisors LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at approximately $29,000. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum during the 3rd quarter worth approximately $30,000. Finally, TruNorth Capital Management LLC acquired a new stake in Marathon Petroleum during the 2nd quarter worth approximately $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.4 %

MPC stock opened at $157.52 on Monday. The business’s fifty day moving average price is $159.06 and its two-hundred day moving average price is $168.26. The stock has a market capitalization of $50.63 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.74 and a beta of 1.38. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76.

Marathon Petroleum (NYSE:MPC) last announced 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 firm had revenue of $35.37 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $8.14 earnings per share. On average, equities analysts anticipate that Marathon Petroleum Co. will post 9.59 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $0.91 dividend. This is a positive change 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 dividend yield of 2.31%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.15%.

Marathon Petroleum declared that its Board of Directors has approved a stock buyback program on Tuesday, November 5th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MPC. Piper Sandler lowered their price objective 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. Wells Fargo & Company dropped their price target on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Barclays reduced their price objective 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. Mizuho cut their target price on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Citigroup decreased their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.