139,286 Marathon Petroleum Corporation $MPC Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Marathon Petroleum stake by 206.1% in the third quarter, purchasing 139,286 additional shares and bringing its holdings to 206,879 shares worth approximately $81.8 million. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum insiders sold 21,691 shares worth approximately $7.8 million during the latest quarter, including substantial sales by an insider and a vice president.
• MPC reported quarterly earnings of $17.73 per share, beating estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $417.88.

Assenagon Asset Management S.A. lifted its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 206.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 206,879 shares of the oil and gas company's stock after acquiring an additional 139,286 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of Marathon Petroleum worth $81,804,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Ninety One UK Ltd acquired a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $494,000. WealthPlan Investment Management LLC boosted its stake in Marathon Petroleum by 4.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 1,509 shares of the oil and gas company's stock worth $597,000 after purchasing an additional 60 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in Marathon Petroleum by 2.1% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,719 shares of the oil and gas company's stock worth $1,471,000 after purchasing an additional 75 shares during the last quarter. KG Capital Management acquired a new position in Marathon Petroleum during the third quarter worth about $437,000. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in Marathon Petroleum by 7.2% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 2,708 shares of the oil and gas company's stock valued at $1,071,000 after acquiring an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insider Activity at Marathon Petroleum

In related news, insider Molly R. Benson sold 17,196 shares of the 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 sale, the insider owned 30,334 shares of the company's stock, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of the business'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 owned 1,576 shares in the company, 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 sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is owned by insiders.

Marathon Petroleum News Summary

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 Price Performance

Shares of NYSE:MPC opened at $478.38 on Friday. The company's fifty day moving average price is $397.65 and its 200 day moving average price is $308.94. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $485.22. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The firm has a market capitalization of $139.66 billion, a P/E ratio of 16.44, a P/E/G ratio of 0.14 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced 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. The business had revenue of $51.99 billion during the quarter, compared to analysts' expectations of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business's revenue was up 53.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.96 earnings per share. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 62.78 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MPC shares. Bank of America upped their price objective on Marathon Petroleum from $410.00 to $426.00 and gave the company a "neutral" rating in a report on Friday, October 2nd. UBS Group set a $510.00 price objective on Marathon Petroleum in a research report on Friday, October 9th. Evercore set a $330.00 target price on Marathon Petroleum in a research note on Wednesday, August 5th. TD Cowen lifted their target price on Marathon Petroleum from $357.00 to $375.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group restated a "hold" rating and issued 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $417.88.

Marathon Petroleum Company 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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