Marathon Petroleum Corporation $MPC Stock Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Marathon Petroleum position by 94.4% in the third quarter, selling 24,171 shares and retaining 1,441 shares worth approximately $570,000. Institutional investors collectively own 76.77% of MPC.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $417.88, despite some insider selling totaling $7.78 million over the past quarter.
• Marathon Petroleum reported strong quarterly results, earning $17.73 per share versus a $14.27 estimate and generating $51.99 billion in revenue, up 53.5% year over year. The company also declared a $1.00 quarterly dividend, equivalent to a $4.00 annualized payout and a 0.8% yield.

Curated Wealth Partners LLC decreased its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 94.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,441 shares of the oil and gas company's stock after selling 24,171 shares during the period. Curated Wealth Partners LLC's holdings in Marathon Petroleum were worth $570,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. WealthPlan Investment Management LLC boosted its stake in Marathon Petroleum by 4.1% during the third quarter. WealthPlan Investment Management LLC now owns 1,509 shares of the oil and gas company's stock worth $597,000 after acquiring an additional 60 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its position in shares of Marathon Petroleum by 2.1% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,719 shares of the oil and gas company's stock worth $1,471,000 after purchasing an additional 75 shares in the last quarter. KG Capital Management purchased a new stake in shares of Marathon Petroleum in the 3rd quarter worth approximately $437,000. Fort Washington Investment Advisors Inc. OH increased its position in Marathon Petroleum by 7.2% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 2,708 shares of the oil and gas company's stock valued at $1,071,000 after buying an additional 182 shares in the last quarter. Finally, VMS Asset Management Limited purchased a new position in Marathon Petroleum during the third quarter valued at $1,395,000. Institutional investors own 76.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MPC shares. Evercore set a $330.00 target price on Marathon Petroleum in a research note on Wednesday, August 5th. Raymond James Financial raised their price target on Marathon Petroleum from $350.00 to $445.00 and gave the stock an "outperform" rating in a research note on Monday, September 14th. TD Cowen raised their price objective on Marathon Petroleum from $357.00 to $375.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Jefferies Financial Group reiterated a "hold" rating and issued a $433.00 price target on shares of Marathon Petroleum in a report on Sunday, October 11th. Finally, Weiss Ratings upgraded Marathon Petroleum from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, October 8th. One investment 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. According to data from MarketBeat, Marathon Petroleum has a consensus rating of "Moderate Buy" and a consensus price target of $417.88.

Insider Activity

In other news, SVP Shawn Lyon sold 1,000 shares of the firm's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the completion of the sale, the senior vice president owned 11,194 shares in the company, valued at approximately $4,206,145.50. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction 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 approximately $571,757.04. The trade was a 26.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Up 0.3%

Shares of NYSE MPC opened at $478.38 on Friday. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $485.22. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The business's 50 day moving average is $397.65 and its two-hundred day moving average is $308.94. The stock has a market capitalization of $139.66 billion, a P/E ratio of 16.44, a PEG ratio of 0.14 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating 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 firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the previous year, the company posted $3.96 EPS. The company's revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, research analysts expect that Marathon Petroleum Corporation will post 62.78 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 0.8%. Marathon Petroleum's dividend payout ratio is currently 13.75%.

Key Headlines Impacting Marathon Petroleum

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

• Positive Sentiment: Wells Fargo issued a Buy rating on MPC, adding to the positive analyst sentiment surrounding the refiner. Wells Fargo Issues a Buy Rating on Marathon Petroleum
• Positive Sentiment: Analysts raised their estimated fair value for Marathon Petroleum to approximately $433.44 from $375.50, citing improved refining assumptions and stronger anticipated margins and crack spreads. Marathon Petroleum Stock Gets Fair Value Boost
• Positive Sentiment: Citigroup projected significant potential appreciation for MPC, while a separate report noted the stock reached a new 12-month high following an analyst upgrade. These developments reinforce the bullish view on refining profitability. Citigroup Forecasts Strong Price Appreciation Marathon Petroleum Sets New 12-Month High
• Positive Sentiment: Coverage describes MPC as a potential hedge against diesel-related weakness, with its scale and refining exposure benefiting if industry margins remain firm. Marathon Petroleum: A Solid Hedge Vs. Diesel's Damage
• Neutral Sentiment: Although MPC and Delek US reported stronger earnings as refining margins improved, analysts favored Delek because of its lower valuation and stronger earnings-estimate revisions. Marathon vs. Delek US
• Negative Sentiment: The stock’s decline while the market advanced highlights near-term relative weakness. Investors may also be questioning whether MPC’s large multiyear gain and current valuation already reflect much of the expected cash-flow and refining-margin improvement. Marathon Petroleum Stock Declines While Market Improves

Marathon Petroleum Company Profile

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.

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.