Carolina Wealth Advisors LLC Acquires 6,525 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Carolina Wealth Advisors acquired 6,525 Marathon Petroleum shares worth approximately $2.58 million in the third quarter. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly EPS of $17.73, exceeding estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion.
• MPC shares opened at $457, near their 12-month high of $493.98. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $424.31, and the company pays a $1 quarterly dividend.

Carolina Wealth Advisors LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,525 shares of the oil and gas company's stock, valued at approximately $2,580,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MPC. BlackRock Inc. acquired a new stake in Marathon Petroleum in the second quarter valued at about $6,648,958,000. Bank of New York Mellon Corp purchased a new stake in Marathon Petroleum in the 2nd quarter valued at approximately $1,029,611,000. Bank of America Corp DE increased its position in Marathon Petroleum by 1.6% during the 1st quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company's stock worth $633,668,000 after purchasing an additional 40,124 shares during the period. Amundi increased its position in Marathon Petroleum by 17.5% during the 2nd quarter. Amundi now owns 2,237,930 shares of the oil and gas company's stock worth $572,172,000 after purchasing an additional 332,551 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Marathon Petroleum by 16.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company's stock worth $385,675,000 after buying an additional 215,686 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 other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the business's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the sale, the vice president directly owned 1,576 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Molly R. Benson sold 17,196 shares of the company's stock in a transaction 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 sale, the insider directly owned 30,334 shares in the company, 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 valued at $7,780,127 in the last ninety days. Corporate insiders own 0.17% of the company's stock.

Marathon Petroleum Trading Down 0.5%

Shares of MPC opened at $457.00 on Friday. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $493.98. 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 firm has a market capitalization of $133.42 billion, a P/E ratio of 15.71, a PEG ratio of 0.12 and a beta of 0.54. The firm's 50-day moving average is $410.05 and its two-hundred day moving average is $316.79.

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

Marathon Petroleum Dividend Announcement

The company 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. This represents a $4.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is presently 13.75%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays raised their price target on Marathon Petroleum from $321.00 to $488.00 and gave the company an "overweight" rating in a report on Monday, October 12th. Jefferies Financial Group reaffirmed a "hold" rating and set a $433.00 price objective on shares of Marathon Petroleum in a report on Sunday, October 11th. Bank of America increased their price objective on Marathon Petroleum from $410.00 to $426.00 and gave the stock a "neutral" rating in a research report on Friday, October 2nd. TD Cowen increased their price objective on Marathon Petroleum from $450.00 to $478.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Weiss Ratings raised Marathon Petroleum from a "buy (b)" rating to a "buy (b+)" rating in a 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $424.31.

Marathon Petroleum 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.

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.