Marathon Petroleum Corporation $MPC Stock Position Lifted by United Advisor Group LLC

United Advisor Group LLC increased its position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 124.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,537 shares of the oil and gas company’s stock after buying an additional 1,962 shares during the quarter. United Advisor Group LLC’s holdings in Marathon Petroleum were worth $1,398,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Marathon Petroleum during the 2nd quarter valued at $6,648,958,000. Bank of New York Mellon Corp purchased a new position in shares of Marathon Petroleum in the second quarter valued at about $1,029,611,000. Bank of America Corp DE increased its position 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 valued at $633,668,000 after acquiring an additional 40,124 shares during the period. Amundi increased its position in shares of Marathon Petroleum by 17.5% in the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock valued at $572,172,000 after acquiring an additional 332,551 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Marathon Petroleum by 16.7% during the second 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 valued at $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.

Insider Activity at Marathon Petroleum

In related news, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction that occurred 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 sale, the vice president directly owned 1,576 shares in the company, valued at $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shawn Lyon sold 1,000 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $375.75, for a total value of $375,750.00. Following the completion of the sale, the senior vice president directly owned 11,194 shares in the company, valued at approximately $4,206,145.50. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,691 shares of company stock worth $7,780,127 over the last ninety days. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of analyst reports. Piper Sandler increased their target price on shares of Marathon Petroleum from $462.00 to $466.00 and gave the stock an “overweight” rating in a report on Thursday. Jefferies Financial Group restated a “hold” rating and set a $433.00 price target on shares of Marathon Petroleum in a report on Sunday, October 11th. Raymond James Financial upped their price target on Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a research report on Monday, September 14th. TD Cowen increased their price objective on Marathon Petroleum from $450.00 to $478.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Finally, Bank of America lifted their price objective on Marathon Petroleum from $410.00 to $426.00 and gave the stock a “neutral” rating in a research report on Friday, October 2nd. One research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $425.12.

Check Out Our Latest Stock Report on Marathon Petroleum

Marathon Petroleum News Roundup

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

Marathon Petroleum Price Performance

MPC stock opened at $372.48 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.45 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 has a 50-day moving average of $421.69 and a 200 day moving average of $295.35. The company has a market cap of $101.42 billion, a P/E ratio of 12.80, a PEG ratio of 0.10 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, beating the consensus estimate of $25.37 by $1.56. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The business had revenue of $56.03 billion for the quarter, compared to analysts’ expectations of $46.60 billion. During the same period in the previous year, the firm posted $3.01 EPS. The business’s revenue was up 57.6% on a year-over-year basis. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 66.31 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

About Marathon Petroleum

(Free Report)

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks.

The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.

Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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