Marathon Petroleum Corporation $MPC Stock Sold by AIA Group Ltd

Key Points

• AIA Group cut its Marathon Petroleum stake by 65% in the third quarter, selling 8,161 shares and retaining 4,400 shares valued at about $1.74 million.
• Marathon Petroleum reported quarterly EPS of $26.93, beating the $25.37 consensus estimate; revenue rose 57.6% year over year to $56.03 billion. The results were supported by strong refining margins and record refinery utilization.
• Analysts give MPC a “Moderate Buy” consensus, with an average price target of $424.88; the article notes that earnings could weaken if unusually favorable refining margins ease.

AIA Group Ltd trimmed its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 65.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,400 shares of the oil and gas company's stock after selling 8,161 shares during the quarter. AIA Group Ltd's holdings in Marathon Petroleum were worth $1,740,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MPC shares. Bank of America upped their target price on shares of Marathon Petroleum from $410.00 to $426.00 and gave the stock a "neutral" rating in a research note on Friday, October 2nd. Mizuho increased their target price on shares of Marathon Petroleum from $304.00 to $457.00 and gave the stock a "neutral" rating in a research report on Thursday, October 8th. Piper Sandler raised their price objective on Marathon Petroleum from $344.00 to $462.00 and gave the company an "overweight" rating in a research note on Thursday, September 3rd. Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $560.00 to $564.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Evercore set a $330.00 target price on Marathon Petroleum in a research report on Wednesday, August 5th. One 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $424.88.

Key Stories Impacting Marathon Petroleum

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

• Positive Sentiment: Third-quarter adjusted EPS rose to $26.93 from $3.01 a year earlier, beating estimates. Adjusted EBITDA was $11.7 billion, supported by strong refining margins and record refinery utilization. Article: Marathon Petroleum Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: MPC raised its quarterly dividend 10% and approved a $5 billion buyback, signaling confidence in cash generation and increasing potential shareholder returns. Article: Marathon Petroleum Raises Dividend 10% and Approves $5 Billion Buyback
• Neutral Sentiment: MPC agreed to sell its St. Paul Park and Mandan refineries and related businesses to CVR Energy in a roughly $4.2 billion transaction. The company plans to focus investment primarily on Gulf Coast growth; the deal provides substantial proceeds but also reduces its Midwest refining footprint. Article: Marathon Petroleum Agrees $4.2 Billion Refinery Deal To Refocus Its Footprint
• Negative Sentiment: The earnings surge was fueled by exceptional refining margins and favorable fuel spreads. If those conditions ease, profits could retreat, tempering enthusiasm for a quarter that was exceptionally strong. Article: Marathon Petroleum Refining Margin Jumps 160%
• Negative Sentiment: Reports highlighted a sharp single-session selloff, indicating investors were not reassured by the earnings beat and may be weighing profit-taking or the sustainability of peak refining conditions. Article: Marathon Petroleum Drops 7% in a Single Session, Erasing $8 Billion

Insider Activity at Marathon Petroleum

In related news, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the transaction, the vice president directly owned 1,576 shares in the company, valued at approximately $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Shawn Lyon sold 1,000 shares of the company's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $375.75, for a total transaction of $375,750.00. Following the sale, the senior vice president directly owned 11,194 shares in the company, valued at approximately $4,206,145.50. The trade was a 8.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is owned by insiders.

Marathon Petroleum Trading Down 8.2%

NYSE MPC opened at $392.09 on Thursday. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $493.98. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The stock's 50-day simple moving average is $421.22 and its two-hundred day simple moving average is $293.35. The company has a market capitalization of $114.47 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.11 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $25.37 by $1.56. Marathon Petroleum had a return on equity of 58.93% and a net margin of 8.27%. The company had revenue of $56.03 billion for the quarter, compared to analysts' expectations of $46.60 billion. During the same period last year, the firm earned $3.01 earnings per share. Marathon Petroleum's quarterly revenue was up 57.6% on a year-over-year basis. Research analysts forecast that Marathon Petroleum Corporation will post 64.12 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

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

About Marathon Petroleum

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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