7,519 Marathon Petroleum Corporation $MPC Shares Sold by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors reduced its Marathon Petroleum stake by 4.5%, selling 7,519 shares and retaining 159,313 shares valued at approximately $63 million. Institutional investors collectively own 76.77% of MPC.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $417.88; several firms recently raised their targets to between $453 and $518.
• Marathon Petroleum reported quarterly earnings of $17.73 per share, exceeding estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion. The company also pays a $1 quarterly dividend, equivalent to a 0.8% yield.

Nisa Investment Advisors LLC trimmed its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 159,313 shares of the oil and gas company's stock after selling 7,519 shares during the quarter. Nisa Investment Advisors LLC owned about 0.05% of Marathon Petroleum worth $62,996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Energy Income Partners LLC purchased a new position in Marathon Petroleum in the 2nd quarter valued at $4,912,000. Vontobel Holding Ltd. lifted its stake in shares of Marathon Petroleum by 23.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 14,025 shares of the oil and gas company's stock worth $5,546,000 after acquiring an additional 2,637 shares during the period. Evolve Private Wealth LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter worth $673,000. Railway Pension Investments Ltd purchased a new stake in shares of Marathon Petroleum in the second quarter valued at about $3,886,000. Finally, Sax Wealth Advisors LLC boosted its holdings in shares of Marathon Petroleum by 471.0% in the third quarter. Sax Wealth Advisors LLC now owns 18,705 shares of the oil and gas company's stock valued at $7,396,000 after acquiring an additional 15,429 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. UBS Group set a $510.00 price target on shares of Marathon Petroleum in a research note on Friday, October 9th. Piper Sandler raised their price objective on shares of Marathon Petroleum from $344.00 to $462.00 and gave the company an "overweight" rating in a research report on Thursday, September 3rd. Citigroup lifted their price objective on Marathon Petroleum from $318.00 to $518.00 and gave the company a "neutral" rating in a report on Tuesday, October 13th. Morgan Stanley lifted their price objective on Marathon Petroleum from $265.00 to $453.00 and gave the company an "overweight" rating in a report on Monday, September 14th. Finally, Barclays boosted their target price on Marathon Petroleum from $321.00 to $488.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. 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 stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average target price of $417.88.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $474.78 on Wednesday. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $493.98. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The business has a fifty day moving average of $403.53 and a two-hundred day moving average of $312.67. The company has a market cap of $138.61 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 0.14 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued 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. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same period in the previous year, the firm earned $3.96 EPS. The business's revenue was up 53.5% on a year-over-year basis. As a group, 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 paid a $1.00 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 0.8%. Marathon Petroleum's dividend payout ratio (DPR) is 13.75%.

Insider Activity at Marathon Petroleum

In related news, VP Erin M. Brzezinski sold 570 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $362.79, for a total transaction of $206,790.30. Following the sale, the vice president owned 1,576 shares of the company's stock, valued at approximately $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Shawn Lyon sold 1,000 shares of the company's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $375.75, for a total transaction of $375,750.00. Following the transaction, the senior vice president owned 11,194 shares in the company, valued at $4,206,145.50. The trade was a 8.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,691 shares of company stock worth $7,780,127 over the last 90 days. Company insiders own 0.17% of the company's stock.

Marathon Petroleum Company 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.

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