Marathon Petroleum Corporation $MPC Stock Sold by Wealth Intelligence LLC

Wealth Intelligence LLC decreased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 6.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,379 shares of the oil and gas company’s stock after selling 1,151 shares during the period. Marathon Petroleum accounts for 2.9% of Wealth Intelligence LLC’s investment portfolio, making the stock its 7th largest position. Wealth Intelligence LLC’s holdings in Marathon Petroleum were worth $6,477,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in MPC. Energy Income Partners LLC bought a new stake in Marathon Petroleum during the 2nd quarter worth approximately $4,912,000. Evolve Private Wealth LLC bought a new position in Marathon Petroleum in the 2nd quarter valued at $673,000. Railway Pension Investments Ltd purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at $3,886,000. Sax Wealth Advisors LLC grew its position in shares of Marathon Petroleum by 471.0% during the 3rd quarter. Sax Wealth Advisors LLC now owns 18,705 shares of the oil and gas company’s stock valued at $7,396,000 after purchasing an additional 15,429 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Marathon Petroleum by 31.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock valued at $52,146,000 after purchasing an additional 50,521 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In related news, insider Molly R. Benson sold 17,196 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the transaction, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Erin M. Brzezinski sold 570 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the transaction, the vice president directly owned 1,576 shares in the company, valued at approximately $571,757.04. This represents a 26.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Price Performance

Shares of NYSE MPC traded up $1.46 during mid-day trading on Friday, reaching $478.38. 1,800,496 shares of the company were exchanged, compared to its average volume of 2,747,691. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $485.22. The company’s 50 day moving average price is $397.65 and its 200 day moving average price is $308.94. The stock has a market capitalization of $139.66 billion, a PE ratio of 16.44, a PEG ratio of 0.14 and a beta of 0.54. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The business had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter in the prior year, the firm earned $3.96 earnings per share. The firm’s revenue was up 53.5% on a year-over-year basis. Sell-side analysts forecast that Marathon Petroleum Corporation will post 62.78 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Key Stories Impacting Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Wells Fargo issued a Buy rating on MPC, adding to the positive analyst sentiment surrounding the refiner. Wells Fargo Issues a Buy Rating on Marathon Petroleum
• Positive Sentiment: Analysts raised their estimated fair value for Marathon Petroleum to approximately $433.44 from $375.50, citing improved refining assumptions and stronger anticipated margins and crack spreads. Marathon Petroleum Stock Gets Fair Value Boost
• Positive Sentiment: Citigroup projected significant potential appreciation for MPC, while a separate report noted the stock reached a new 12-month high following an analyst upgrade. These developments reinforce the bullish view on refining profitability. Citigroup Forecasts Strong Price Appreciation Marathon Petroleum Sets New 12-Month High
• Positive Sentiment: Coverage describes MPC as a potential hedge against diesel-related weakness, with its scale and refining exposure benefiting if industry margins remain firm. Marathon Petroleum: A Solid Hedge Vs. Diesel’s Damage
• Neutral Sentiment: Although MPC and Delek US reported stronger earnings as refining margins improved, analysts favored Delek because of its lower valuation and stronger earnings-estimate revisions. Marathon vs. Delek US
• Negative Sentiment: The stock’s decline while the market advanced highlights near-term relative weakness. Investors may also be questioning whether MPC’s large multiyear gain and current valuation already reflect much of the expected cash-flow and refining-margin improvement. Marathon Petroleum Stock Declines While Market Improves

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MPC shares. Morgan Stanley increased their price objective on Marathon Petroleum from $265.00 to $453.00 and gave the stock an “overweight” rating in a research report on Monday, September 14th. Citigroup lifted their price objective on Marathon Petroleum from $318.00 to $518.00 and gave the company a “neutral” rating in a research note on Tuesday. Raymond James Financial boosted their target price on Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. Weiss Ratings upgraded Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, Wells Fargo & Company upped their target price on Marathon Petroleum from $400.00 to $560.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $417.88.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.