10,575 Marathon Petroleum Corporation $MPC Shares Sold by Bokf Na

Key Points

• Bokf Na reduced its Marathon Petroleum stake by 12.5% in the third quarter, selling 10,575 shares and retaining 74,141 shares valued at approximately $29.3 million. Institutional investors own 76.77% of MPC.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $424.31; several firms recently raised their targets as high as $510.
• Marathon Petroleum reported quarterly EPS of $17.73, well above the $14.27 estimate, while revenue rose 53.5% year over year to $51.99 billion. The board also approved a 10% quarterly dividend increase to $1.10 per share.

Bokf Na cut its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 12.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,141 shares of the oil and gas company's stock after selling 10,575 shares during the quarter. Bokf Na's holdings in Marathon Petroleum were worth $29,317,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vaquero Private Wealth Ltd. purchased a new position in shares of Marathon Petroleum in the 3rd quarter worth approximately $39,000. Solstein Capital LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $26,000. Caitlin John LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $26,000. Bell Investment Advisors Inc purchased a new stake in Marathon Petroleum during the second quarter valued at approximately $27,000. Finally, Cetera Trust Company N.A purchased a new stake in Marathon Petroleum during the second quarter valued at approximately $35,000. 76.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MPC shares. Evercore set a $330.00 price target on Marathon Petroleum in a research note on Wednesday, August 5th. UBS Group set a $510.00 price target on Marathon Petroleum in a research report on Friday, October 9th. Piper Sandler raised their price objective on shares of Marathon Petroleum from $344.00 to $462.00 and gave the stock an "overweight" rating in a research note on Thursday, September 3rd. Barclays lifted their price target on Marathon Petroleum from $321.00 to $488.00 and gave the company an "overweight" rating in a research note on Monday, October 12th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $433.00 target price on shares of Marathon Petroleum in a research report on Sunday, October 11th. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $424.31.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $440.25 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The company has a 50-day moving average price of $414.63 and a 200 day moving average price of $287.14. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $493.98. The stock has a market cap of $128.52 billion, a P/E ratio of 15.13, a PEG ratio of 0.12 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts' consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The company had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the previous year, the business earned $3.96 earnings per share. The company's revenue for the quarter was up 53.5% on a year-over-year basis. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 64.12 earnings per share for the current year.

Marathon Petroleum News Roundup

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

• Positive Sentiment: MPC’s board approved a 10% increase in its quarterly dividend to $1.10 per share from $1.00. The dividend will be paid Dec. 10 to shareholders of record Nov. 18, supporting the investment case through stronger shareholder returns. Marathon Petroleum Corp. Increases Quarterly Dividend
• Positive Sentiment: Analyst coverage remains constructive, citing strong refining margins, robust fuel demand, rising earnings estimates and MPC’s exceptional recent profitability. Zacks also identifies MPC as a top refining and marketing pick. Zacks Industry Outlook Highlights Marathon Petroleum
• Positive Sentiment: MPC is being highlighted as a momentum stock after its strong annual performance and recent pullback, while a reported increase in consensus price targets adds to the bullish narrative. Momentum Anomaly Stocks

Insider Activity at Marathon Petroleum

In other news, VP Erin M. Brzezinski sold 570 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the transaction, the vice president owned 1,576 shares of the company's stock, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Molly Benson sold 17,196 shares of Marathon Petroleum stock in a transaction that occurred 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 of the company's stock, valued at $10,876,862.38. This trade represents a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,691 shares of company stock worth $7,780,127 in the last three months. 0.17% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.