Marathon Petroleum Corporation $MPC Stock: AlphaCore Capital LLC Trims Holdings

Key Points

• AlphaCore Capital cut its Marathon Petroleum stake by 24.2% in the third quarter, selling 14,496 shares and ending the period with 45,351 shares valued at about $17.9 million. Institutional investors and hedge funds collectively own 76.77% of the stock.
• Marathon Petroleum reported quarterly EPS of $26.93, beating estimates of $25.37, while revenue of $56.03 billion exceeded forecasts and rose 57.6% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $425.12. The company also announced a $1.00 quarterly dividend, equivalent to a 1.0% yield at the article’s cited share price.

AlphaCore Capital LLC trimmed its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 24.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,351 shares of the oil and gas company's stock after selling 14,496 shares during the period. AlphaCore Capital LLC's holdings in Marathon Petroleum were worth $17,933,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MPC. Leuthold Group LLC acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $8,979,000. Fulcrum Asset Management LLP lifted its holdings in Marathon Petroleum by 96,518.2% in the third quarter. Fulcrum Asset Management LLP now owns 10,628 shares of the oil and gas company's stock valued at $4,166,000 after acquiring an additional 10,617 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Marathon Petroleum by 8.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 23,500 shares of the oil and gas company's stock valued at $9,873,000 after acquiring an additional 1,747 shares during the last quarter. Burton Enright Welch acquired a new stake in Marathon Petroleum during the third quarter worth $214,000. Finally, Beverly Hills Private Wealth LLC increased its stake in Marathon Petroleum by 1.3% during the third quarter. Beverly Hills Private Wealth LLC now owns 5,173 shares of the oil and gas company's stock worth $2,045,000 after acquiring an additional 66 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn Lyon sold 1,000 shares of the firm's stock in a transaction 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 directly owned 11,194 shares in the company, valued at $4,206,145.50. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,691 shares of company stock worth $7,780,127 over the last ninety days. Corporate insiders own 0.17% of the company's stock.

Marathon Petroleum Stock Up 4.6%

MPC stock opened at $389.91 on Tuesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 1.45. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $493.98. The firm has a market capitalization of $106.16 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.10 and a beta of 0.53. The company's 50 day moving average price is $422.11 and its 200 day moving average price is $296.41.

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 earnings per share for the quarter, beating analysts' consensus estimates of $25.37 by $1.56. The business had revenue of $56.03 billion for the quarter, compared to analyst estimates of $46.60 billion. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. The company's revenue was up 57.6% on a year-over-year basis. During the same period last year, the business earned $3.01 EPS. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Marathon Petroleum's dividend payout ratio is 13.75%.

Analysts Set New Price Targets

MPC has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Marathon Petroleum from $453.00 to $458.00 and gave the company an "overweight" rating in a research report on Wednesday, November 4th. Jefferies Financial Group reiterated a "hold" rating and set a $433.00 price target on shares of Marathon Petroleum in a report on Sunday, October 11th. Mizuho lifted their price target 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. Bank of America lifted their price target on shares of Marathon Petroleum from $410.00 to $426.00 and gave the company a "neutral" rating in a research report on Friday, October 2nd. Finally, Zacks Research raised shares of Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and a consensus price target of $425.12.

About Marathon Petroleum

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks.

The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.

Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.

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