Turtle Creek Wealth Advisors LLC Has $4.81 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Turtle Creek Wealth Advisors LLC grew its position in Marathon Petroleum Co. (NYSE:MPC) by 2.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 29,520 shares of the oil and gas company’s stock after buying an additional 825 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $4,809,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James & Associates grew its stake in shares of Marathon Petroleum by 2.6% during the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after purchasing an additional 107,915 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Marathon Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after purchasing an additional 31,100 shares during the period. Boston Partners grew its stake in shares of Marathon Petroleum by 0.3% during the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after purchasing an additional 8,476 shares during the period. Pacer Advisors Inc. grew its stake in shares of Marathon Petroleum by 8.5% during the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after purchasing an additional 209,270 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of Marathon Petroleum by 7.6% during the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after purchasing an additional 117,790 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 0.4 %

MPC traded down $0.62 on Friday, hitting $157.52. 2,258,883 shares of the company were exchanged, compared to its average volume of 2,653,613. The stock’s fifty day moving average is $159.06 and its 200-day moving average is $168.43. The company has a market cap of $50.63 billion, a PE ratio of 12.48, a PEG ratio of 2.82 and a beta of 1.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced 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 for the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business’s revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.14 earnings per share. Equities research analysts predict that Marathon Petroleum Co. will post 9.41 EPS for the current fiscal year.

Marathon Petroleum declared that its board has approved a stock repurchase plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 10% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given 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 annualized dividend and a dividend yield of 2.31%. Marathon Petroleum’s dividend payout ratio is presently 26.15%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MPC. Barclays decreased their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Citigroup decreased their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Bank of America assumed coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price on the stock. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Finally, Scotiabank reduced their target price on 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 investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target 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.