5,105 Marathon Petroleum Corporation $MPC Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 30.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,050 shares of the oil and gas company’s stock after purchasing an additional 5,105 shares during the quarter. Park Avenue Securities LLC’s holdings in Marathon Petroleum were worth $8,719,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Marathon Petroleum in the second quarter valued at $6,648,958,000. Bank of New York Mellon Corp acquired a new position in shares of Marathon Petroleum during the second quarter valued at $1,029,611,000. Bank of America Corp DE bought a new position in shares of Marathon Petroleum during the second quarter worth about $621,832,000. Legal & General Group Plc bought a new position in shares of Marathon Petroleum during the second quarter worth about $380,745,000. Finally, Deutsche Bank AG acquired a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $280,761,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Marathon Petroleum

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

• Positive Sentiment: MPC’s board approved a 10% increase in its quarterly dividend to $1.10 per share from $1.00. The dividend will be paid Dec. 10 to shareholders of record Nov. 18, supporting the investment case through stronger shareholder returns. Marathon Petroleum Corp. Increases Quarterly Dividend
• Positive Sentiment: Analyst coverage remains constructive, citing strong refining margins, robust fuel demand, rising earnings estimates and MPC’s exceptional recent profitability. Zacks also identifies MPC as a top refining and marketing pick. Zacks Industry Outlook Highlights Marathon Petroleum
• Positive Sentiment: MPC is being highlighted as a momentum stock after its strong annual performance and recent pullback, while a reported increase in consensus price targets adds to the bullish narrative. Momentum Anomaly Stocks

Marathon Petroleum Stock Performance

Shares of MPC opened at $440.25 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The firm has a market cap of $128.52 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.12 and a beta of 0.54. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $493.98. The company’s fifty day moving average is $414.63 and its 200-day moving average is $287.14.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping 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 company had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter in the previous year, the firm earned $3.96 earnings per share. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. Equities analysts expect that Marathon Petroleum Corporation will post 64.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of analyst reports. Barclays boosted their target price on shares of Marathon Petroleum from $321.00 to $488.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Morgan Stanley raised their target price on shares of Marathon Petroleum from $265.00 to $453.00 and gave the company an “overweight” rating in a research note on Monday, September 14th. Evercore set a $330.00 price objective on Marathon Petroleum in a research note on Wednesday, August 5th. Piper Sandler increased their target price on shares of Marathon Petroleum from $344.00 to $462.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Finally, Citigroup raised their target price on shares of Marathon Petroleum from $318.00 to $518.00 and gave the stock a “neutral” rating in a report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $424.31.

Insider Buying and Selling

In related news, insider Molly Benson sold 17,196 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider owned 30,334 shares in the company, valued at $10,876,862.38. This represents a 36.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Shawn Lyon sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. The trade was a 16.54% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 21,691 shares of company stock valued at $7,780,127. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.