Marathon Petroleum Corporation $MPC Stock: Smith Group Asset Management LLC Lowers Holdings

Smith Group Asset Management LLC cut its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 37.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,684 shares of the oil and gas company’s stock after selling 36,440 shares during the quarter. Smith Group Asset Management LLC’s holdings in Marathon Petroleum were worth $24,391,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MPC. Focus Financial Network Inc. raised its stake in Marathon Petroleum by 2.0% in the 3rd quarter. Focus Financial Network Inc. now owns 1,066 shares of the oil and gas company’s stock worth $422,000 after acquiring an additional 21 shares during the last quarter. CRA Financial Services LLC grew its stake in Marathon Petroleum by 1.2% during the 3rd quarter. CRA Financial Services LLC now owns 1,844 shares of the oil and gas company’s stock valued at $729,000 after purchasing an additional 21 shares during the last quarter. Avior Wealth Management LLC grew its stake in Marathon Petroleum by 1.0% during the 3rd quarter. Avior Wealth Management LLC now owns 2,130 shares of the oil and gas company’s stock valued at $842,000 after purchasing an additional 22 shares during the last quarter. Physician Wealth Advisors Inc. grew its stake in Marathon Petroleum by 7.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 316 shares of the oil and gas company’s stock valued at $125,000 after purchasing an additional 23 shares during the last quarter. Finally, LexAurum Advisors LLC increased its holdings in shares of Marathon Petroleum by 2.6% in the third quarter. LexAurum Advisors LLC now owns 930 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 24 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

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

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The company’s revenue was up 53.5% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. Research analysts expect that Marathon Petroleum Corporation will post 64.12 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.9%. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Wall Street Analyst Weigh In

MPC has been the subject of several research analyst reports. Weiss Ratings upgraded Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Zacks Research raised Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. Bank of America upped their target price on Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. The Goldman Sachs Group increased their price target on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Finally, Citigroup raised their price target on shares of Marathon Petroleum from $318.00 to $518.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 13th. One investment 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. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $424.31.

Key Headlines Impacting 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

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the transaction, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Shawn M. Lyon sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the completion of the transaction, the senior vice president directly owned 11,194 shares of the company’s stock, valued at $4,206,145.50. The trade was a 8.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,691 shares of company stock valued at $7,780,127 over the last ninety days. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum 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.