Marathon Petroleum Corporation $MPC Stock: Fairvoy Private Wealth LLC Raises Stake

Key Points

• Fairvoy Private Wealth LLC increased its Marathon Petroleum stake by 330% in the third quarter, acquiring 3,300 additional shares and bringing its holdings to 4,300 shares valued at approximately $1.7 million. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum insiders sold 21,691 shares worth approximately $7.8 million during the quarter, while corporate insiders own just 0.17% of the company.
• Analysts maintain a generally positive outlook, with MPC receiving a “Moderate Buy” consensus rating and an average price target of $417.88. The company also reported quarterly EPS of $17.73, beating estimates by $3.46, and declared a quarterly dividend of $1.00 per share.

Fairvoy Private Wealth LLC increased its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 330.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,300 shares of the oil and gas company's stock after buying an additional 3,300 shares during the quarter. Fairvoy Private Wealth LLC's holdings in Marathon Petroleum were worth $1,700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MPC. Focus Financial Network Inc. raised its stake in shares of Marathon Petroleum by 2.0% in the third quarter. Focus Financial Network Inc. now owns 1,066 shares of the oil and gas company's stock valued at $422,000 after acquiring an additional 21 shares during the period. CRA Financial Services LLC boosted its stake in shares of Marathon Petroleum by 1.2% during the 3rd quarter. CRA Financial Services LLC now owns 1,844 shares of the oil and gas company's stock worth $729,000 after purchasing an additional 21 shares during the period. Avior Wealth Management LLC boosted its stake in shares of Marathon Petroleum by 1.0% during the 3rd quarter. Avior Wealth Management LLC now owns 2,130 shares of the oil and gas company's stock worth $842,000 after purchasing an additional 22 shares during the period. LexAurum Advisors LLC grew its holdings in Marathon Petroleum by 2.6% during the 3rd quarter. LexAurum Advisors LLC now owns 930 shares of the oil and gas company's stock valued at $368,000 after purchasing an additional 24 shares during the last quarter. Finally, Forum Financial Management LP grew its holdings in 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. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Molly Benson sold 17,196 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the transaction, the insider owned 30,334 shares of the company's stock, valued at $10,876,862.38. This represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the transaction, the vice president owned 1,576 shares in the company, valued at $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,691 shares of company stock valued at $7,780,127 over the last quarter. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America increased 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. Mizuho boosted their target price on Marathon Petroleum from $304.00 to $457.00 and gave the company a "neutral" rating in a research report on Thursday, October 8th. TD Cowen upped their target price on Marathon Petroleum from $357.00 to $375.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Citigroup upped their target price on Marathon Petroleum from $318.00 to $518.00 and gave the company a "neutral" rating in a research note on Tuesday, October 13th. Finally, Zacks Research upgraded Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a report on Friday, September 4th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $417.88.

Marathon Petroleum Trading Down 0.8%

Shares of NYSE MPC traded down $3.84 during mid-day trading on Monday, reaching $474.23. The company had a trading volume of 1,925,845 shares, compared to its average volume of 2,475,936. The business's 50-day moving average is $397.65 and its 200-day moving average is $309.39. 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 stock has a market cap of $138.44 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 0.14 and a beta of 0.54. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $493.98.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share 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 analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm's revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. Equities analysts expect that Marathon Petroleum Corporation will post 62.78 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a $1.00 dividend. 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 payout ratio is presently 13.75%.

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.

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