Marathon Petroleum Corporation $MPC Position Boosted by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 8,216.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,075 shares of the oil and gas company’s stock after acquiring an additional 4,026 shares during the period. Provenance Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $1,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Focus Financial Network Inc. increased its stake in shares of Marathon Petroleum by 2.0% during the 3rd quarter. Focus Financial Network Inc. now owns 1,066 shares of the oil and gas company’s stock worth $422,000 after purchasing an additional 21 shares in the last quarter. CRA Financial Services LLC raised its position in shares of 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 worth $729,000 after purchasing an additional 21 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of 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 worth $842,000 after purchasing an additional 22 shares during the last quarter. Physician Wealth Advisors Inc. lifted its stake in Marathon Petroleum by 7.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 316 shares of the oil and gas company’s stock valued at $125,000 after buying an additional 23 shares in the last quarter. Finally, Global Assets Advisory LLC lifted its stake in Marathon Petroleum by 1.6% in the 3rd quarter. Global Assets Advisory LLC now owns 1,442 shares of the oil and gas company’s stock valued at $630,000 after buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

More Marathon Petroleum News

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

• Positive Sentiment: Adjusted earnings of $26.93 per share topped analyst expectations, while revenue reached about $56 billion. Profit surged from a year earlier as refining margins jumped and refineries operated at high utilization. Reuters article
• Positive Sentiment: MPC raised its quarterly dividend by 10% and reported $3.3 billion in capital returned during the quarter. The company also highlighted strong cash generation, which may support further investor payouts. Third-quarter results
• Neutral Sentiment: MPC agreed to sell its St. Paul Park and Mandan refineries and related businesses to CVR Energy in a transaction valued at about $4.2 billion, with MPC receiving $3.45 billion for refining assets and MPLX receiving $750 million. The sale advances a shift toward Gulf Coast investment and provides proceeds, but also reduces MPC’s refining footprint. Divestiture announcement
• Negative Sentiment: The scale of the earnings surge reflects exceptionally strong refining margins, which may not persist if fuel-supply constraints ease or margins normalize. That creates a risk that future results will fall from this quarter’s unusually high level. Refining margins analysis
• Negative Sentiment: Energy stocks broadly declined, creating pressure on MPC despite its strong results; the stock’s decline was less severe than some competitors’. MarketWatch article

Insiders Place Their Bets

In other Marathon Petroleum news, 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 transaction of $875,000.00. Following the transaction, the senior vice president 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Molly Benson sold 17,196 shares of Marathon Petroleum stock in a transaction on Monday, August 17th. The shares were 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 owned 30,334 shares in the company, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their position. 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 quarter. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Trading Down 0.5%

NYSE MPC opened at $428.27 on Wednesday. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $493.98. The company has a 50-day moving average of $420.48 and a 200-day moving average of $292.28. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The company has a market cap of $125.03 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.11 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, topping the consensus estimate of $25.37 by $1.56. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $56.03 billion for the quarter, compared to analyst estimates of $46.60 billion. During the same period in the prior year, the firm posted $3.01 EPS. The company’s revenue was up 57.6% on a year-over-year basis. As a group, equities analysts predict that Marathon Petroleum Corporation will post 64.12 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MPC shares. Evercore set a $330.00 target price on Marathon Petroleum in a report on Wednesday, August 5th. Barclays boosted their price target on Marathon Petroleum from $321.00 to $488.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Bank of America upped their price objective on Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Citigroup increased their price objective on Marathon Petroleum from $318.00 to $518.00 and gave the company a “neutral” rating in a research note on Tuesday, October 13th. Finally, Raymond James Financial lifted their price objective on Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. 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 an average rating of “Moderate Buy” and an average target price of $424.31.

About Marathon Petroleum

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.