4,026 Marathon Petroleum Corporation $MPC Shares Acquired by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors increased its Marathon Petroleum stake by 4,026 shares in the third quarter, an 8,216.3% increase, bringing its holdings to 4,075 shares valued at about $1.61 million. Institutional investors and hedge funds own 76.77% of MPC.
• MPC reported quarterly earnings of $26.93 per share, beating analyst estimates, with revenue of $56.03 billion. The company also raised its quarterly dividend by 10% to $1 per share.
• Marathon agreed to sell two refineries and related businesses for about $4.2 billion, shifting investment toward the Gulf Coast but reducing its refining footprint. Exceptionally strong refining margins boosted results, though margin normalization could weigh on future earnings.

Provenance Wealth Advisors LLC lifted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 8,216.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,075 shares of the oil and gas company's stock after acquiring an additional 4,026 shares during the period. Provenance Wealth Advisors LLC's holdings in Marathon Petroleum were worth $1,611,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Associated Banc Corp purchased a new position in shares of Marathon Petroleum during the third quarter worth about $1,391,000. Integrity Alliance LLC. increased its position in Marathon Petroleum by 336.1% in the 3rd quarter. Integrity Alliance LLC. now owns 6,943 shares of the oil and gas company's stock valued at $2,745,000 after acquiring an additional 5,351 shares during the period. First Nebraska Trust Co purchased a new stake in Marathon Petroleum during the 3rd quarter valued at approximately $6,884,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Marathon Petroleum during the 3rd quarter valued at approximately $6,087,000. Finally, Gerber Kawasaki Wealth & Investment Management acquired a new stake in Marathon Petroleum during the 3rd quarter worth approximately $266,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Shawn M. Lyon sold 1,000 shares of the company's stock in a transaction that occurred 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 owned 11,194 shares in the company, valued at $4,206,145.50. This represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Molly R. Benson sold 17,196 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the transaction, the insider directly owned 30,334 shares of the company's stock, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 21,691 shares of company stock worth $7,780,127. Company insiders own 0.17% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Raymond James Financial lifted their target price on Marathon Petroleum from $350.00 to $445.00 and gave the company an "outperform" rating in a research note on Monday, September 14th. Jefferies Financial Group restated a "hold" rating and set a $433.00 price target on shares of Marathon Petroleum in a research note on Sunday, October 11th. The Goldman Sachs Group increased their price target on Marathon Petroleum from $376.00 to $472.00 and gave the stock a "buy" rating in a report on Monday, September 21st. Zacks Research raised Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a report on Friday, September 4th. Finally, Mizuho lifted their price objective on shares of Marathon Petroleum from $304.00 to $457.00 and gave the company a "neutral" rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and an average price target of $424.31.

Key Headlines Impacting Marathon Petroleum

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

• Positive Sentiment: Adjusted earnings of $26.93 per share topped analyst expectations, while revenue reached about $56 billion. Profit surged from a year earlier as refining margins jumped and refineries operated at high utilization. Reuters article
• Positive Sentiment: MPC raised its quarterly dividend by 10% and reported $3.3 billion in capital returned during the quarter. The company also highlighted strong cash generation, which may support further investor payouts. Third-quarter results
• Neutral Sentiment: MPC agreed to sell its St. Paul Park and Mandan refineries and related businesses to CVR Energy in a transaction valued at about $4.2 billion, with MPC receiving $3.45 billion for refining assets and MPLX receiving $750 million. The sale advances a shift toward Gulf Coast investment and provides proceeds, but also reduces MPC’s refining footprint. Divestiture announcement
• Negative Sentiment: The scale of the earnings surge reflects exceptionally strong refining margins, which may not persist if fuel-supply constraints ease or margins normalize. That creates a risk that future results will fall from this quarter’s unusually high level. Refining margins analysis
• Negative Sentiment: Energy stocks broadly declined, creating pressure on MPC despite its strong results; the stock’s decline was less severe than some competitors’. MarketWatch article

Marathon Petroleum Stock Performance

NYSE:MPC opened at $428.27 on Wednesday. The firm's fifty day simple moving average is $420.48 and its 200-day simple moving average is $292.28. 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 stock has a market cap of $125.03 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 0.11 and a beta of 0.53. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $493.98.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 EPS for the quarter, beating the consensus estimate of $25.37 by $1.56. The firm had revenue of $56.03 billion during the quarter, compared to analysts' expectations of $46.60 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business's revenue for the quarter was up 57.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.01 earnings per share. Analysts expect that Marathon Petroleum Corporation will post 64.12 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $4.00 dividend on an annualized basis and a yield of 0.9%. Marathon Petroleum's dividend payout ratio (DPR) is 13.75%.

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.

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