Marathon Petroleum Corporation $MPC Stock Bought by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors increased its Marathon Petroleum stake by 34.8% in the third quarter, bringing its holdings to 20,817 shares valued at approximately $8.23 million. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly EPS of $17.73, exceeding the $14.27 consensus estimate, while revenue rose 53.5% year over year to $51.99 billion.
• The company declared a quarterly dividend of $1.00, or $4.00 annualized, representing a 0.9% yield. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $383.69.

Farther Finance Advisors LLC increased its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 34.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,817 shares of the oil and gas company's stock after purchasing an additional 5,369 shares during the quarter. Farther Finance Advisors LLC's holdings in Marathon Petroleum were worth $8,231,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MPC. Capstone Financial Advisors Inc. boosted its stake in shares of Marathon Petroleum by 1.8% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 1,938 shares of the oil and gas company's stock worth $495,000 after acquiring an additional 34 shares in the last quarter. Eastern Bank boosted its position in shares of Marathon Petroleum by 2.1% in the 3rd quarter. Eastern Bank now owns 1,936 shares of the oil and gas company's stock valued at $766,000 after purchasing an additional 39 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Marathon Petroleum by 3.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company's stock valued at $329,000 after purchasing an additional 40 shares during the period. Equitable Trust Co. increased its stake in Marathon Petroleum by 1.6% in the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock worth $644,000 after purchasing an additional 42 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC increased its stake in Marathon Petroleum by 0.4% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company's stock worth $2,411,000 after purchasing an additional 42 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Insider Transactions at Marathon Petroleum

In related news, insider Molly Benson sold 17,196 shares of the firm's stock in a transaction that occurred 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 owned 30,334 shares of the company's stock, valued at $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of 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. Over the last quarter, insiders have sold 21,691 shares of company stock worth $7,780,127. Insiders own 0.17% of the company's stock.

Marathon Petroleum Trading Down 2.1%

NYSE:MPC opened at $453.84 on Friday. The company has a market capitalization of $132.49 billion, a P/E ratio of 15.60, a P/E/G ratio of 0.14 and a beta of 0.54. The stock's 50 day moving average price is $380.41 and its 200 day moving average price is $300.85. 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 Corporation has a 52 week low of $161.93 and a 52 week high of $470.00.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The company had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the prior year, the company posted $3.96 EPS. The firm's revenue was up 53.5% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Corporation will post 61.46 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 0.9%. Marathon Petroleum's payout ratio is currently 13.75%.

Analyst Upgrades and Downgrades

A number of analysts have commented on MPC shares. UBS Group set a $510.00 price objective on shares of Marathon Petroleum in a research note on Friday. BMO Capital Markets restated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, June 12th. Zacks Research upgraded shares of Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 4th. Bank of America lifted their price objective on shares of Marathon Petroleum from $410.00 to $426.00 and gave the stock a "neutral" rating in a research report on Friday, October 2nd. Finally, TD Cowen upped their target price on Marathon Petroleum from $357.00 to $375.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $383.69.

About Marathon Petroleum

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, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.

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