Ninety One UK Ltd acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,250 shares of the oil and gas company’s stock, valued at approximately $494,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Marathon Petroleum during the second quarter valued at $6,648,958,000. Bank of New York Mellon Corp bought a new position in shares of Marathon Petroleum in the second quarter worth about $1,029,611,000. Bank of America Corp DE increased its stake in Marathon Petroleum by 1.6% in the 1st 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 increased its stake in Marathon Petroleum by 17.5% in the 2nd quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock worth $572,172,000 after buying an additional 332,551 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Marathon Petroleum by 16.7% in 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 buying an additional 215,686 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on MPC shares. Weiss Ratings upgraded shares of Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Barclays upped their target price on shares of Marathon Petroleum from $321.00 to $488.00 and gave the stock an “overweight” rating in a research note on Monday. Zacks Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. Raymond James Financial lifted their price target on shares of Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. Finally, UBS Group set a $510.00 price target on shares of Marathon Petroleum in a research note on Friday, October 9th. One equities 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $417.88.
View Our Latest Stock Report on Marathon Petroleum
Marathon Petroleum Price Performance
Shares of NYSE MPC opened at $476.39 on Friday. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $485.22. The company has a market cap of $139.08 billion, a PE ratio of 16.38, 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 quick ratio of 0.89 and a current ratio of 1.25. The business has a 50-day simple moving average of $394.03 and a two-hundred day simple moving average of $307.75.
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.96 earnings per share. As a group, equities analysts expect that Marathon Petroleum Corporation will post 62.78 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum’s payout ratio is currently 13.75%.
Trending Headlines about Marathon Petroleum
Here are the key news stories impacting Marathon Petroleum this week:
- Positive Sentiment: Wells Fargo initiated or reiterated a Buy rating on Marathon Petroleum, adding to positive analyst sentiment toward the refiner. Wells Fargo Issues a Buy Rating on Marathon Petroleum
- Positive Sentiment: Barclays raised its price target to $488, while other recent research lifted Marathon Petroleum’s estimated fair value as analysts updated their assumptions for refining margins and crack spreads. Barclays raises Marathon Petroleum stock target
- Positive Sentiment: Improving refining margins have supported stronger earnings expectations for MPC and peers. Marathon Petroleum is also being viewed as a relatively lower-volatility energy stock and a potential hedge against diesel-market weakness and broader geopolitical volatility. Marathon Petroleum: A Solid Hedge Vs. Diesel’s Damage
- Neutral Sentiment: In a comparison with Delek US, both refiners were described as benefiting from stronger earnings and better margins. However, Delek’s lower valuation and more favorable earnings-estimate revisions gave it the edge, potentially limiting incremental buying interest in MPC. Marathon vs. Delek US
- Negative Sentiment: Recent analysis questioned whether MPC’s share price is fully supported by future cash-flow generation after the stock’s roughly sevenfold five-year gain. The shares have also approached a new 12-month high, increasing the risk of profit-taking and valuation-driven selling. Can Marathon Petroleum Still Justify Its Price on Cash Flow?
- Negative Sentiment: One updated fair-value estimate of approximately $433.44 remains below the recent trading level, reinforcing concerns that much of the improved refining outlook may already be reflected in MPC’s valuation. Marathon Petroleum Fair Value Boost
Insiders Place Their Bets
In other Marathon Petroleum news, SVP Shawn Lyon sold 1,000 shares of the company’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 transaction, the senior vice president owned 11,194 shares in the company, valued at approximately $4,206,145.50. This represents a 8.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the transaction, the vice president directly owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. This represents a 26.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 21,691 shares of company stock valued at $7,780,127. Insiders own 0.17% of the company’s stock.
Marathon Petroleum Profile
Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.
Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.
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