Thrivent Financial for Lutherans Has $76.39 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Thrivent Financial for Lutherans increased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 468,935 shares of the oil and gas company’s stock after purchasing an additional 15,434 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Marathon Petroleum were worth $76,394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MPC. Oppenheimer Asset Management Inc. lifted its holdings in shares of Marathon Petroleum by 27.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after buying an additional 9,355 shares in the last quarter. Founders Financial Securities LLC raised its stake in Marathon Petroleum by 22.8% in the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after purchasing an additional 924 shares in the last quarter. Holistic Planning LLC bought a new stake in Marathon Petroleum in the 3rd quarter valued at about $912,000. LRI Investments LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter worth approximately $97,000. Finally, Magnolia Capital Advisors LLC increased its holdings in shares of Marathon Petroleum by 353.4% during the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MPC shares. Citigroup reduced their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Mizuho decreased their price target 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. Bank of America began coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective for the company. Morgan Stanley decreased their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Finally, Wells Fargo & Company reduced their price target on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Two investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.07.

Marathon Petroleum Price Performance

Shares of MPC opened at $157.52 on Monday. The business has a 50-day simple moving average of $159.06 and a two-hundred day simple moving average of $168.26. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11. The stock has a market cap of $50.63 billion, a PE ratio of 12.48, a PEG ratio of 2.74 and a beta of 1.38. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $34.34 billion. During the same quarter last year, the business earned $8.14 EPS. The firm’s quarterly revenue was down 14.9% on a year-over-year basis. Analysts anticipate that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.31%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is presently 26.15%.

Marathon Petroleum announced that its board has approved a share repurchase 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 buy up to 10% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.