Marathon Petroleum Corporation $MPC Stock Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 19.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,337 shares of the oil and gas company’s stock after selling 1,498 shares during the period. Verdence Capital Advisors LLC’s holdings in Marathon Petroleum were worth $2,506,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Vontobel Holding Ltd. grew its stake in shares of Marathon Petroleum by 23.2% during the third quarter. Vontobel Holding Ltd. now owns 14,025 shares of the oil and gas company’s stock worth $5,546,000 after buying an additional 2,637 shares during the last quarter. Energy Income Partners LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth $4,912,000. Evolve Private Wealth LLC bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at $673,000. Railway Pension Investments Ltd bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at $3,886,000. Finally, Sax Wealth Advisors LLC lifted its stake in shares of Marathon Petroleum by 471.0% in 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 acquiring an additional 15,429 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MPC shares. Barclays raised their price objective on Marathon Petroleum from $321.00 to $488.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Citigroup upped their target price on Marathon Petroleum from $318.00 to $518.00 and gave the stock a “neutral” rating in a report on Tuesday, October 13th. Mizuho increased their target price on Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. Zacks Research raised Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. Finally, The Goldman Sachs Group boosted their price target on Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $424.31.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly 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 completion of the transaction, the insider directly owned 30,334 shares in the company, valued at $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Shawn Lyon sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $375.75, for a total value of $375,750.00. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 21,691 shares of company stock worth $7,780,127. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Trading Down 7.5%

Shares of NYSE:MPC opened at $435.29 on Wednesday. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $493.98. The firm’s fifty day moving average is $413.17 and its 200-day moving average is $285.83.

Marathon Petroleum (NYSE:MPC) last posted 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 company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. The business’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.96 earnings per share. As a group, equities analysts expect that Marathon Petroleum Corporation will post 64.12 earnings per share for the current fiscal year.

Key Headlines Impacting Marathon Petroleum

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

• Positive Sentiment: Refining fundamentals remain supportive: firm gasoline prices, tight fuel inventories and resilient refining margins could benefit MPC’s near-term earnings. A separate industry analysis also identified MPC as one of three preferred refining and marketing stocks. Marathon Petroleum Rides Firm Refining Margins Into Earnings 3 Top Refining and Marketing Picks on Strong Profit Margins
• Positive Sentiment: Raymond James raised its price target for MPC to $560, indicating that at least one analyst sees additional upside based on the company’s earnings and refining outlook. Raymond James Raises Target for Marathon Petroleum Stock
• Neutral Sentiment: Analysts expect earnings growth in the upcoming report, but Zacks says MPC lacks the combination of earnings and estimate-revision trends typically associated with a likely earnings beat. That raises the risk of heightened volatility around the release. Marathon Petroleum Earnings Expected to Grow
• Negative Sentiment: The immediate pressure appears sector-driven, with traders taking profits in refining stocks and reassessing crude prices, fuel margins and third-quarter expectations ahead of earnings. MPC’s recent strong performance may have increased the incentive to lock in gains. Marathon Petroleum Slides Ahead of Earnings
• Negative Sentiment: Reported insider activity shows 10 open-market sales and no purchases over the past six months. In addition, several published price targets remain well below MPC’s current trading level, signaling valuation concerns after its rally.

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.