Marathon Petroleum Corporation $MPC Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 39,664 shares of the oil and gas company’s stock after selling 1,999 shares during the period. State of Alaska Department of Revenue’s holdings in Marathon Petroleum were worth $15,683,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Marathon Petroleum in the second quarter valued at $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $1,029,611,000. Bank of America Corp DE raised its position in shares of Marathon Petroleum by 1.6% during the 1st quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock worth $633,668,000 after acquiring an additional 40,124 shares in the last quarter. Amundi lifted its stake in Marathon Petroleum by 17.5% during the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock worth $572,172,000 after purchasing an additional 332,551 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Marathon Petroleum by 16.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock worth $385,675,000 after purchasing an additional 215,686 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded down $9.30 during midday trading on Thursday, hitting $475.62. 1,013,226 shares of the company’s stock were exchanged, compared to its average volume of 2,476,056. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The stock has a market cap of $138.85 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 0.15 and a beta of 0.54. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $485.22. The firm’s 50 day simple moving average is $390.48 and its 200 day simple moving average is $306.16.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same period in the prior year, the company earned $3.96 earnings per share. The business’s revenue was up 53.5% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Corporation will post 61.17 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.8%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MPC. Mizuho upped their price target on Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. UBS Group set a $510.00 price objective on shares of Marathon Petroleum in a report on Friday, October 9th. Citigroup boosted their price objective on shares of Marathon Petroleum from $318.00 to $518.00 and gave the stock a “neutral” rating in a research report on Tuesday. Raymond James Financial increased their target price on shares of Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a research report on Monday, September 14th. Finally, Zacks Research upgraded Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $417.88.

Marathon Petroleum News Roundup

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

• Positive Sentiment: Wells Fargo issued a Buy rating on MPC, adding to the favorable analyst sentiment surrounding the refiner. Wells Fargo Issues a Buy Rating on Marathon Petroleum
• Positive Sentiment: Analysts raised Marathon Petroleum’s estimated fair value from approximately $375.50 to $433.44, citing stronger refining assumptions, margins and crack spreads. Marathon Petroleum Stock Gets Fair Value Boost
• Positive Sentiment: Barclays increased its price target to $488, while Citigroup lifted its target dramatically to $518, reinforcing expectations for continued earnings or valuation support. Barclays Raises Marathon Petroleum Stock Target
• Positive Sentiment: MPC is being highlighted as a relatively low-volatility energy stock that could appeal to investors seeking resilience amid elevated oil prices and Middle East-related market risks. Stay Ahead of Market Swings With BP, PBF, VLO and MPC
• Neutral Sentiment: The shares recently established a new 12-month high following analyst upgrades, reflecting strong momentum but also increasing sensitivity to profit-taking. Marathon Petroleum Sets New 12-Month High
• Negative Sentiment: Valuation analysts are questioning whether MPC’s current price can be justified by future cash flow after the stock delivered roughly a sevenfold five-year return. Can Marathon Petroleum Still Justify Its Price on Cash Flow?
• Negative Sentiment: Despite Citi’s higher target, its rating remains Neutral, and DBS continues to rate MPC Hold, highlighting disagreement over how much upside remains.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 1,576 shares of the company’s stock, valued at $571,757.04. This represents a 26.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Molly R. 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 sale, the insider directly owned 30,334 shares of the company’s stock, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,691 shares of company stock worth $7,780,127 in the last quarter. Company insiders own 0.17% of the company’s stock.

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.