2,978 Shares of Marathon Petroleum Corporation $MPC Acquired by USA Financial Formulas

USA Financial Formulas purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 2,978 shares of the oil and gas company’s stock, valued at approximately $1,178,000. Marathon Petroleum makes up about 0.2% of USA Financial Formulas’ portfolio, making the stock its 29th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWS Financial Advisors LLC bought a new stake in Marathon Petroleum in the third quarter valued at approximately $303,000. Hutchens & Kramer Investment Management Group LLC acquired a new stake in Marathon Petroleum during the 3rd quarter valued at approximately $237,000. Forum Financial Management LP raised its holdings in Marathon Petroleum by 2.9% during the 3rd quarter. Forum Financial Management LP now owns 923 shares of the oil and gas company’s stock worth $365,000 after purchasing an additional 26 shares during the last quarter. Beaumont Asset Management L.L.C. bought a new position in Marathon Petroleum during the 3rd quarter worth approximately $261,000. Finally, McKinley Carter Wealth Services Inc. acquired a new position in shares of Marathon Petroleum in the 3rd quarter worth approximately $261,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other news, SVP Shawn Lyon sold 1,000 shares of the firm’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 transaction of $375,750.00. Following the completion of the sale, the senior vice president owned 11,194 shares of the company’s stock, valued at $4,206,145.50. This trade represents a 8.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the sale, the vice president owned 1,576 shares of the company’s stock, valued at $571,757.04. This represents a 26.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 21,691 shares of company stock valued at $7,780,127 in the last quarter. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Up 0.3%

NYSE MPC opened at $478.38 on Friday. The business has a 50 day simple moving average of $397.65 and a 200 day simple moving average of $308.94. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $485.22. The stock has a market capitalization of $139.66 billion, a P/E ratio of 16.44, a P/E/G ratio of 0.14 and a beta of 0.54. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC) last issued its 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 business had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the previous year, the company posted $3.96 earnings per share. The firm’s revenue for the quarter was up 53.5% on a year-over-year basis. Research analysts expect that Marathon Petroleum Corporation will post 62.78 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 0.8%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

Analyst Ratings Changes

A number of research firms have recently commented on MPC. Evercore set a $330.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, August 5th. Piper Sandler lifted their target price on shares of Marathon Petroleum from $344.00 to $462.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Raymond James Financial lifted their target price on shares of Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a research note on Monday, September 14th. The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $376.00 to $472.00 and gave the company a “buy” rating in a report on Monday, September 21st. Finally, Mizuho upped their price target on shares of Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $417.88.

More Marathon Petroleum News

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

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.