Marathon Petroleum Corporation $MPC Stock Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management reduced its Marathon Petroleum stake by 15.3% in the third quarter, selling 7,345 shares and retaining 40,796 shares valued at approximately $16.1 million. Institutional investors collectively own 76.77% of MPC.
• Analysts remain broadly positive, with MPC holding a consensus “Moderate Buy” rating and an average price target of $424.31. Several firms raised their targets, including Citigroup to $518 and UBS Group setting a $510 objective.
• Marathon Petroleum reported quarterly EPS of $17.73, beating estimates by $3.46, while revenue rose 53.5% year over year to $51.99 billion. The company also declared a quarterly dividend of $1.00, equivalent to a 0.9% annualized yield.

Sterling Capital Management LLC lessened its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 15.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,796 shares of the oil and gas company's stock after selling 7,345 shares during the quarter. Sterling Capital Management LLC's holdings in Marathon Petroleum were worth $16,132,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Focus Financial Network Inc. increased its position in Marathon Petroleum by 2.0% in the 3rd quarter. Focus Financial Network Inc. now owns 1,066 shares of the oil and gas company's stock worth $422,000 after purchasing an additional 21 shares during the last quarter. CRA Financial Services LLC lifted its holdings 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 valued at $729,000 after buying an additional 21 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Marathon Petroleum by 1.0% in the 3rd quarter. Avior Wealth Management LLC now owns 2,130 shares of the oil and gas company's stock valued at $842,000 after buying an additional 22 shares in the last quarter. Physician Wealth Advisors Inc. increased 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 worth $125,000 after buying an additional 23 shares during the last quarter. Finally, LexAurum Advisors LLC increased its holdings in Marathon Petroleum by 2.6% in the third quarter. LexAurum Advisors LLC now owns 930 shares of the oil and gas company's stock worth $368,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on MPC. Mizuho lifted their target price on shares of Marathon Petroleum from $304.00 to $457.00 and gave the company a "neutral" rating in a research note on Thursday, October 8th. Weiss Ratings raised shares of Marathon Petroleum from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. UBS Group set a $510.00 price objective on shares of Marathon Petroleum in a report on Friday, October 9th. The Goldman Sachs Group increased their target price on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a "buy" rating in a research report on Monday, September 21st. Finally, Citigroup raised their target price on Marathon Petroleum from $318.00 to $518.00 and gave the company a "neutral" rating in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $424.31.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded down $2.28 during trading on Friday, reaching $457.00. The stock had a trading volume of 1,460,350 shares, compared to its average volume of 2,005,655. The stock has a fifty day simple moving average of $410.05 and a two-hundred day simple moving average of $316.79. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $493.98. The firm has a market capitalization of $133.42 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 0.12 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion for 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%. Marathon Petroleum's revenue was up 53.5% compared to the same quarter last year. During the same period last year, the business posted $3.96 EPS. As a group, analysts anticipate that Marathon Petroleum Corporation will post 63.58 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.

Insider Activity

In related news, SVP Shawn M. Lyon sold 1,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $375.75, for a total transaction of $375,750.00. Following the completion of the sale, the senior vice president owned 11,194 shares in the company, valued at $4,206,145.50. This represents a 8.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Molly R. Benson sold 17,196 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider directly owned 30,334 shares in the company, valued at $10,876,862.38. This trade represents a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is owned by insiders.

Marathon Petroleum Company 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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