Marathon Petroleum Corporation $MPC Position Reduced by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lessened its position in Marathon Petroleum Corporation (NYSE:MPC) by 19.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,337 shares of the oil and gas company’s stock after selling 1,498 shares during the period. Verdence Capital Advisors LLC’s holdings in Marathon Petroleum were worth $2,506,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MPC. BlackRock Inc. acquired a new stake in Marathon Petroleum in the 2nd quarter valued at about $6,648,958,000. Bank of New York Mellon Corp acquired a new position in Marathon Petroleum during the second quarter worth approximately $1,029,611,000. Bank of America Corp DE increased its position in Marathon Petroleum by 1.6% during 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 last quarter. Amundi raised its stake in 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 buying 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 Marathon Petroleum by 16.7% in 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 buying an additional 215,686 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Erin M. Brzezinski sold 570 shares of the 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 sale, 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Shawn M. Lyon sold 1,000 shares of the 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 sale, the senior vice president directly owned 11,194 shares in the company, valued at approximately $4,206,145.50. This trade represents a 8.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,691 shares of company stock valued at $7,780,127 over the last 90 days. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum News Roundup

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

• Positive Sentiment: Refining fundamentals remain supportive: firm gasoline prices, tight fuel inventories and resilient refining margins could benefit MPC’s near-term earnings. A separate industry analysis also identified MPC as one of three preferred refining and marketing stocks. Marathon Petroleum Rides Firm Refining Margins Into Earnings 3 Top Refining and Marketing Picks on Strong Profit Margins
• Positive Sentiment: Raymond James raised its price target for MPC to $560, indicating that at least one analyst sees additional upside based on the company’s earnings and refining outlook. Raymond James Raises Target for Marathon Petroleum Stock
• Neutral Sentiment: Analysts expect earnings growth in the upcoming report, but Zacks says MPC lacks the combination of earnings and estimate-revision trends typically associated with a likely earnings beat. That raises the risk of heightened volatility around the release. Marathon Petroleum Earnings Expected to Grow
• Negative Sentiment: The immediate pressure appears sector-driven, with traders taking profits in refining stocks and reassessing crude prices, fuel margins and third-quarter expectations ahead of earnings. MPC’s recent strong performance may have increased the incentive to lock in gains. Marathon Petroleum Slides Ahead of Earnings
• Negative Sentiment: Reported insider activity shows 10 open-market sales and no purchases over the past six months. In addition, several published price targets remain well below MPC’s current trading level, signaling valuation concerns after its rally.

Marathon Petroleum Stock Performance

MPC stock opened at $435.29 on Wednesday. The company’s 50-day simple moving average is $413.17 and its 200 day simple moving average is $285.83. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $493.98.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the prior year, the business posted $3.96 earnings per share. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, analysts anticipate that Marathon Petroleum Corporation will post 64.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on MPC. TD Cowen raised their price objective on Marathon Petroleum from $450.00 to $478.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Morgan Stanley boosted their target price on Marathon Petroleum from $265.00 to $453.00 and gave the stock an “overweight” rating in a report on Monday, September 14th. Jefferies Financial Group restated a “hold” rating and issued a $433.00 price target on shares of Marathon Petroleum in a research note on Sunday, October 11th. Mizuho raised their price target on Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Finally, Citigroup lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $424.31.

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.