Marathon Petroleum Corporation $MPC Position Increased by AlphaStar Capital Management LLC

Key Points

• AlphaStar Capital Management increased its Marathon Petroleum position by 396.9% in the third quarter, holding 13,893 shares valued at approximately $5.49 million. Institutional investors collectively own 76.77% of MPC’s outstanding stock.
• Marathon Petroleum reported quarterly EPS of $17.73, beating estimates by $3.46, while revenue rose 53.5% year over year to $51.99 billion. The company also maintains a $1.00 quarterly dividend, equivalent to a 0.8% annual yield.
• Analyst sentiment remains broadly positive, with MPC receiving a “Moderate Buy” consensus rating and an average price target of $417.88; however, company insiders sold $7.78 million of shares over the past 90 days.

AlphaStar Capital Management LLC raised its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 396.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,893 shares of the oil and gas company's stock after acquiring an additional 11,097 shares during the quarter. AlphaStar Capital Management LLC's holdings in Marathon Petroleum were worth $5,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. USA Financial Formulas bought a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $1,178,000. CWS Financial Advisors LLC purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $303,000. Hutchens & Kramer Investment Management Group LLC purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $237,000. Forum Financial Management LP increased its position in shares of Marathon Petroleum by 2.9% during the 3rd quarter. Forum Financial Management LP now owns 923 shares of the oil and gas company's stock valued at $365,000 after purchasing an additional 26 shares during the last quarter. Finally, Beaumont Asset Management L.L.C. bought a new position in shares of Marathon Petroleum in the 3rd quarter worth approximately $261,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

MPC opened at $478.38 on Friday. The stock has a market capitalization of $139.66 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 0.14 and a beta of 0.54. The company has a fifty day moving average of $397.65 and a 200 day moving average of $308.94. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $485.22. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced 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 for 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%. Marathon Petroleum's revenue for the quarter was up 53.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.96 EPS. As a group, sell-side analysts forecast that Marathon Petroleum Corporation will post 62.78 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. Stockholders of record on Wednesday, August 19th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.8%. Marathon Petroleum's dividend payout ratio (DPR) is presently 13.75%.

Insider Activity

In other news, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum 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 sale, the vice president directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Shawn Lyon sold 2,500 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,691 shares of company stock worth $7,780,127 over the last 90 days. Corporate insiders own 0.17% of the company's stock.

More Marathon Petroleum News

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

Analyst Ratings Changes

MPC has been the topic of a number of research reports. Zacks Research raised shares of Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a report on Friday, September 4th. Evercore set a $330.00 target price on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Piper Sandler upped their target price on shares of Marathon Petroleum from $344.00 to $462.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. Barclays increased their price target on shares of Marathon Petroleum from $321.00 to $488.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $433.00 price target on shares of Marathon Petroleum in a research report on Sunday, October 11th. One investment 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $417.88.

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.

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC - Free Report).

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.