Marathon Petroleum Corporation $MPC Stock: Candriam S.C.A. Grows Position

Key Points

• Candriam S.C.A. increased its Marathon Petroleum stake by 23.7% in the third quarter, adding 5,616 shares to hold 29,267 shares valued at about $11.6 million. Institutional investors collectively own 76.77% of the company.
• Marathon Petroleum reported quarterly earnings of $26.93 per share, beating estimates by $1.56, while revenue rose 57.6% year over year to $56.03 billion. The company declared a $1.00-per-share quarterly dividend.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $425.12. Company insiders sold 21,691 shares worth about $7.8 million last quarter.

Candriam S.C.A. grew its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 23.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,267 shares of the oil and gas company's stock after buying an additional 5,616 shares during the quarter. Candriam S.C.A.'s holdings in Marathon Petroleum were worth $11,615,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MPC. Focus Financial Network Inc. raised its position in shares of Marathon Petroleum by 2.0% during the 3rd quarter. Focus Financial Network Inc. now owns 1,066 shares of the oil and gas company's stock valued at $422,000 after purchasing an additional 21 shares during the period. CRA Financial Services LLC grew its position in shares of Marathon Petroleum by 1.2% during the third quarter. CRA Financial Services LLC now owns 1,844 shares of the oil and gas company's stock valued at $729,000 after purchasing an additional 21 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Marathon Petroleum by 1.0% in the third quarter. Avior Wealth Management LLC now owns 2,130 shares of the oil and gas company's stock valued at $842,000 after purchasing an additional 22 shares in the last quarter. Physician Wealth Advisors Inc. increased its holdings in shares of Marathon Petroleum by 7.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 316 shares of the oil and gas company's stock worth $125,000 after buying an additional 23 shares during the last quarter. Finally, Global Assets Advisory LLC raised its position in shares of Marathon Petroleum by 1.6% during the 3rd quarter. Global Assets Advisory LLC now owns 1,442 shares of the oil and gas company's stock valued at $630,000 after buying an additional 23 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Insider Transactions at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 1,000 shares of the company's stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction dated 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 owned 1,576 shares of the company's stock, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,691 shares of company stock valued at $7,780,127 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Up 4.6%

Shares of Marathon Petroleum stock opened at $389.91 on Tuesday. The firm's 50 day moving average price is $422.11 and its 200-day moving average price is $296.41. The company has a quick ratio of 0.89, a current ratio of 1.45 and a debt-to-equity ratio of 1.10. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $493.98. The company has a market cap of $106.16 billion, a P/E ratio of 13.40, a PEG ratio of 0.10 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, beating the consensus estimate of $25.37 by $1.56. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. The company had revenue of $56.03 billion during the quarter, compared to the consensus estimate of $46.60 billion. During the same period last year, the firm earned $3.01 earnings per share. Marathon Petroleum's revenue was up 57.6% compared to the same quarter last year. On average, sell-side analysts predict that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 4th. Mizuho boosted their price objective on Marathon Petroleum from $304.00 to $457.00 and gave the company a "neutral" rating in a report on Thursday, October 8th. Wells Fargo & Company upped their price objective on Marathon Petroleum from $560.00 to $564.00 and gave the company an "overweight" rating in a research report on Wednesday, November 4th. Barclays upped their target price on shares of Marathon Petroleum from $321.00 to $488.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. Finally, Raymond James Financial upped their price objective on shares of Marathon Petroleum from $350.00 to $445.00 and gave the stock an "outperform" rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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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