Allworth Financial LP Trims Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Allworth Financial cut its Marathon Petroleum stake by 19.7% in the second quarter, selling 4,361 shares and retaining 17,795 shares worth approximately $4.55 million. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported strong quarterly results, with EPS of $17.73 beating estimates by $3.46 and revenue rising 53.5% year over year to $51.99 billion. The company also declared a $1.00 quarterly dividend, equivalent to a 1.0% annual yield.
• Analyst sentiment remains bullish: MPC has a “Moderate Buy” consensus rating, with recent price-target increases from UBS, Piper Sandler, Raymond James and Goldman Sachs. However, insiders sold 21,691 shares worth about $7.78 million during the last quarter.

Allworth Financial LP trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 19.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,795 shares of the oil and gas company's stock after selling 4,361 shares during the quarter. Allworth Financial LP's holdings in Marathon Petroleum were worth $4,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Solstein Capital LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $26,000. Caitlin John LLC bought a new stake in Marathon Petroleum in the second quarter worth $26,000. Bell Investment Advisors Inc bought a new stake in Marathon Petroleum in the second quarter worth $27,000. Navalign LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth $30,000. Finally, Berbice Capital Management LLC increased its holdings in shares of Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 transaction of $375,750.00. Following the transaction, the senior vice president directly owned 11,194 shares of the company's stock, valued at $4,206,145.50. This represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Erin M. Brzezinski sold 570 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was 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 in the company, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. 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. Company insiders own 0.17% of the company's stock.

Trending Headlines about Marathon Petroleum

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

• Positive Sentiment: Strong refining margins: Record-high crack spreads are supporting profitability, while analysts and Zacks have highlighted MPC as a “Bull of the Day” and a strong momentum stock. Marathon Petroleum and Campbell's highlighted as Zacks Bull and Bear of the Day
• Positive Sentiment: Positive analyst and momentum support: Momentum screens, improving earnings estimates and a reported UBS upgrade reinforce the bullish investment case and may attract additional buyers. MPC Gets a UBS Raise While Refiners Keep Cashing In
• Positive Sentiment: Long-term margin investment: High-return refinery projects are designed to improve feedstock flexibility, product yields and operating efficiency, potentially strengthening margins and cash generation over time. How High-Return Refinery Investment Strengthens MPC's Long-Term Margins
• Positive Sentiment: Geopolitical tailwind: Escalating Iran-related tensions and threats to Gulf energy assets pushed crude above $91 per barrel, increasing attention on energy stocks and potentially supporting refinery economics through tighter fuel markets. Defense, Solar, and Refining Stocks Split as the Iran Conflict Raises Energy Risk
• Neutral Sentiment: Momentum does not eliminate cyclicality: The bullish coverage is largely based on current refining spreads and estimate revisions. A decline in crack spreads, weaker fuel demand or easing geopolitical tensions could reduce the near-term catalyst.

Marathon Petroleum Price Performance

NYSE MPC opened at $400.33 on Thursday. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $402.00. The stock has a 50-day moving average of $330.50 and a 200 day moving average of $271.13. 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 company has a market capitalization of $116.87 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.25 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating 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 business had revenue of $51.99 billion for the quarter, compared to analysts' expectations of $40.87 billion. During the same quarter in the prior year, the business earned $3.96 EPS. The business's revenue for the quarter was up 53.5% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 47.23 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.0%. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Raymond James Financial lifted their price target on Marathon Petroleum from $300.00 to $335.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. UBS Group raised their price objective on shares of Marathon Petroleum from $321.00 to $450.00 and gave the company a "buy" rating in a research note on Tuesday. Piper Sandler lifted their target price on shares of Marathon Petroleum from $344.00 to $462.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. Weiss Ratings raised shares of Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and an average target price of $330.50.

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 and other transportation fuels, as well as asphalt, propane, petrochemical feedstocks and related products.

Marathon Petroleum operates a network of refineries in the United States and markets refined products through wholesale channels, branded retail locations and commercial customers.

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