UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC) by 6.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,746,422 shares of the oil and gas company’s stock after selling 123,293 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Marathon Petroleum were worth $284,510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum in the third quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC raised its stake in Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at $30,000. Darwin Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth $33,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.5 %

Shares of NYSE:MPC opened at $156.15 on Friday. The firm has a market cap of $50.18 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 2.70 and a beta of 1.38. The company has a fifty day simple moving average of $157.98 and a 200 day simple moving average of $166.80. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its earnings results 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. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.14 EPS. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

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

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 2.33%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum’s payout ratio is 28.84%.

Analyst Upgrades and Downgrades

Several brokerages have commented on MPC. Morgan Stanley dropped their price target on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Citigroup reduced their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $185.07.

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.