Marathon Petroleum Corporation $MPC Stock: Generali Asset Management SPA SGR Reduces Holdings

Generali Asset Management SPA SGR lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 43.5% during the third quarter, Holdings Channel reports. The fund owned 24,281 shares of the oil and gas company’s stock after selling 18,707 shares during the period. Generali Asset Management SPA SGR’s holdings in Marathon Petroleum were worth $9,601,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in Marathon Petroleum during the 2nd quarter worth about $6,648,958,000. Bank of New York Mellon Corp purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $1,029,611,000. Bank of America Corp DE acquired a new stake in Marathon Petroleum in the second quarter valued at approximately $621,832,000. Legal & General Group Plc acquired a new stake in Marathon Petroleum in the second quarter valued at approximately $380,745,000. Finally, Deutsche Bank AG purchased a new position in Marathon Petroleum in the second quarter worth approximately $280,761,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $435.29 on Wednesday. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $493.98. The stock has a 50-day simple moving average of $413.17 and a 200-day simple moving average of $285.83.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. The company’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.96 EPS. On average, research analysts anticipate that Marathon Petroleum Corporation will post 64.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup boosted their price target on shares of Marathon Petroleum from $318.00 to $518.00 and gave the stock a “neutral” rating in a report on Tuesday, October 13th. Barclays raised their price target on Marathon Petroleum from $321.00 to $488.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Piper Sandler lifted their price target on Marathon Petroleum from $344.00 to $462.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Evercore set a $330.00 price objective on Marathon Petroleum in a research report on Wednesday, August 5th. Finally, Bank of America increased their price objective on Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $424.31.

Insider Transactions at Marathon Petroleum

In other news, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the transaction, the vice president directly owned 1,576 shares of the company’s stock, valued at $571,757.04. The trade was a 26.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction 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 approximately $4,416,650. This trade represents a 16.54% 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 worth $7,780,127. Insiders own 0.17% of the company’s stock.

Key Marathon Petroleum News

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

• Positive Sentiment: Refining fundamentals remain supportive: firm gasoline prices, tight fuel inventories and resilient refining margins could benefit MPC’s near-term earnings. A separate industry analysis also identified MPC as one of three preferred refining and marketing stocks. Marathon Petroleum Rides Firm Refining Margins Into Earnings 3 Top Refining and Marketing Picks on Strong Profit Margins
• Positive Sentiment: Raymond James raised its price target for MPC to $560, indicating that at least one analyst sees additional upside based on the company’s earnings and refining outlook. Raymond James Raises Target for Marathon Petroleum Stock
• Neutral Sentiment: Analysts expect earnings growth in the upcoming report, but Zacks says MPC lacks the combination of earnings and estimate-revision trends typically associated with a likely earnings beat. That raises the risk of heightened volatility around the release. Marathon Petroleum Earnings Expected to Grow
• Negative Sentiment: The immediate pressure appears sector-driven, with traders taking profits in refining stocks and reassessing crude prices, fuel margins and third-quarter expectations ahead of earnings. MPC’s recent strong performance may have increased the incentive to lock in gains. Marathon Petroleum Slides Ahead of Earnings
• Negative Sentiment: Reported insider activity shows 10 open-market sales and no purchases over the past six months. In addition, several published price targets remain well below MPC’s current trading level, signaling valuation concerns after its rally.

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.