Vontobel Holding Ltd. lifted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 23.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,025 shares of the oil and gas company’s stock after purchasing an additional 2,637 shares during the quarter. Vontobel Holding Ltd.’s holdings in Marathon Petroleum were worth $5,546,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Solstein Capital LLC acquired a new position in Marathon Petroleum in the second quarter valued at $26,000. Caitlin John LLC purchased a new position in Marathon Petroleum during the second quarter worth about $26,000. Bell Investment Advisors Inc acquired a new stake in Marathon Petroleum in the 2nd quarter worth about $27,000. Main Street Group LTD acquired a new stake in Marathon Petroleum in the 1st quarter worth about $35,000. Finally, Cetera Trust Company N.A purchased a new stake in Marathon Petroleum in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently commented on MPC. UBS Group set a $510.00 price objective on shares of Marathon Petroleum in a research note on Friday, October 9th. Citigroup increased their price objective on shares of Marathon Petroleum from $318.00 to $518.00 and gave the stock a “neutral” rating in a report on Tuesday, October 13th. The Goldman Sachs Group raised their target price on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. Barclays raised their target price on shares of Marathon Petroleum from $321.00 to $488.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Finally, Morgan Stanley boosted their target price on shares of Marathon Petroleum from $265.00 to $453.00 and gave the company an “overweight” rating in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $417.88.
Marathon Petroleum Trading Up 0.3%
MPC stock opened at $478.38 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The company has a market cap of $139.66 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 0.14 and a beta of 0.54. The business has a fifty day simple moving average of $397.65 and a 200-day simple moving average of $308.94. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $485.22.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $40.87 billion. During the same period last year, the company posted $3.96 EPS. The business’s quarterly revenue was up 53.5% on a year-over-year basis. On average, equities research analysts expect that Marathon Petroleum Corporation will post 62.78 EPS for the current year.
Marathon Petroleum Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 0.8%. Marathon Petroleum’s dividend payout ratio is currently 13.75%.
Insider Transactions at Marathon Petroleum
In other news, VP Erin M. Brzezinski sold 570 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the transaction, the vice president directly owned 1,576 shares in the company, valued at $571,757.04. This trade represents a 26.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shawn Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the transaction, the senior vice president directly owned 12,619 shares in the company, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,691 shares of company stock worth $7,780,127 in the last three months. 0.17% of the stock is currently owned by company insiders.
Trending Headlines about Marathon Petroleum
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.
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