36,440 Marathon Petroleum Corporation $MPC Shares Sold by Smith Group Asset Management LLC

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

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $6,648,958,000. Bank of New York Mellon Corp purchased a new stake in shares of Marathon Petroleum in the second quarter worth approximately $1,029,611,000. Bank of America Corp DE raised its holdings in shares of Marathon Petroleum by 1.6% in the first quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock worth $633,668,000 after buying an additional 40,124 shares during the period. Amundi lifted its stake in shares of Marathon Petroleum by 17.5% during the 2nd quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock worth $572,172,000 after acquiring an additional 332,551 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Marathon Petroleum by 16.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock worth $385,675,000 after acquiring an additional 215,686 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

More Marathon Petroleum News

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

Analyst Ratings Changes

A number of research firms recently issued reports on MPC. The Goldman Sachs Group boosted their price objective on Marathon Petroleum from $376.00 to $472.00 and gave the company a “buy” rating in a report on Monday, September 21st. TD Cowen raised their target price on shares of Marathon Petroleum from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. 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 research report on Tuesday, October 13th. Bank of America lifted their price target on shares of Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a research note on Friday, October 2nd. Finally, UBS Group set a $510.00 price target on Marathon Petroleum in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $424.31.

Marathon Petroleum Stock Up 1.0%

Shares of Marathon Petroleum stock opened at $440.25 on Thursday. 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 Corporation has a 1 year low of $161.93 and a 1 year high of $493.98. The firm’s 50-day moving average is $414.63 and its two-hundred day moving average is $287.14. The stock 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.

Marathon Petroleum (NYSE:MPC) last posted 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 net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter last year, the firm posted $3.96 EPS. The company’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, research analysts expect that Marathon Petroleum Corporation will post 64.12 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $1.00 per share. 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 (DPR) is currently 13.75%.

Insider Activity

In related news, SVP Shawn Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. 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 the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the sale, the vice president owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. This represents a 26.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 21,691 shares of company stock worth $7,780,127. Corporate 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.