Marathon Petroleum Corporation $MPC Stock: Park Avenue Securities LLC Raises Holdings

Park Avenue Securities LLC grew its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 30.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,050 shares of the oil and gas company's stock after purchasing an additional 5,105 shares during the quarter. Park Avenue Securities LLC's holdings in Marathon Petroleum were worth $8,719,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Solstein Capital LLC purchased a new position in Marathon Petroleum during the second quarter worth about $26,000. Caitlin John LLC acquired a new stake in Marathon Petroleum in the 2nd quarter worth about $26,000. Bell Investment Advisors Inc purchased a new stake in Marathon Petroleum in the 2nd quarter valued at about $27,000. Main Street Group LTD purchased a new stake in Marathon Petroleum in the 1st quarter valued at about $35,000. Finally, Cetera Trust Company N.A acquired a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Activity

In other news, SVP Shawn M. Lyon sold 2,500 shares of the company'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 of the company's stock, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Molly R. Benson sold 17,196 shares of the company's 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 completion of the transaction, the insider owned 30,334 shares of the company's stock, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,691 shares of company stock valued at $7,780,127 in the last three months. Corporate insiders own 0.17% of the company's stock.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $440.25 on Thursday. The business's fifty day moving average price is $414.63 and its 200 day moving average price is $287.14. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $493.98. 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 capitalization of $128.52 billion, a P/E ratio of 15.13, a PEG ratio of 0.12 and a beta of 0.54.

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 EPS for the quarter, topping the consensus estimate 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 return on equity of 31.96% and a net margin of 5.48%. The firm's revenue was up 53.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.96 earnings per share. As a group, research analysts anticipate that Marathon Petroleum Corporation will post 64.12 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on MPC shares. TD Cowen increased their price objective on shares of Marathon Petroleum from $450.00 to $478.00 and gave the stock a "buy" rating in a report on Thursday, October 22nd. Jefferies Financial Group reissued a "hold" rating and issued a $433.00 target price on shares of Marathon Petroleum in a research report on Sunday, October 11th. Weiss Ratings upgraded shares of Marathon Petroleum from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Bank of America upped their price target 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, Barclays upped 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $424.31.

Key Headlines Impacting Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: MPC’s board approved a 10% increase in its quarterly dividend to $1.10 per share from $1.00. The dividend will be paid Dec. 10 to shareholders of record Nov. 18, supporting the investment case through stronger shareholder returns. Marathon Petroleum Corp. Increases Quarterly Dividend
• Positive Sentiment: Analyst coverage remains constructive, citing strong refining margins, robust fuel demand, rising earnings estimates and MPC’s exceptional recent profitability. Zacks also identifies MPC as a top refining and marketing pick. Zacks Industry Outlook Highlights Marathon Petroleum
• Positive Sentiment: MPC is being highlighted as a momentum stock after its strong annual performance and recent pullback, while a reported increase in consensus price targets adds to the bullish narrative. Momentum Anomaly Stocks

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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