Nisa Investment Advisors LLC Sells 7,519 Shares of Marathon Petroleum Corporation $MPC

Nisa Investment Advisors LLC trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 159,313 shares of the oil and gas company’s stock after selling 7,519 shares during the period. Nisa Investment Advisors LLC’s holdings in Marathon Petroleum were worth $62,996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Marathon Petroleum during the second quarter worth about $6,648,958,000. Bank of New York Mellon Corp purchased a new stake in shares of Marathon Petroleum in the second quarter valued at about $1,029,611,000. Bank of America Corp DE grew its position in shares of Marathon Petroleum by 1.6% in the first quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock valued at $633,668,000 after purchasing an additional 40,124 shares during the last quarter. Amundi grew its position in shares of Marathon Petroleum by 17.5% in the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock valued at $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 increased its stake in shares of Marathon Petroleum by 16.7% during the 2nd 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 in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 27th. The shares were 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. This trade represents a 26.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MPC has been the subject of several analyst reports. Citigroup boosted their target price on shares of Marathon Petroleum from $318.00 to $518.00 and gave the company a “neutral” rating in a research note on Tuesday, October 13th. Barclays upped their target price on shares of Marathon Petroleum from $321.00 to $488.00 and gave the company an “overweight” rating in a report on Monday, October 12th. 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. Wells Fargo & Company lifted their price target on shares of Marathon Petroleum from $400.00 to $560.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. Finally, Piper Sandler boosted their price target on Marathon Petroleum from $344.00 to $462.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. One research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $417.88.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $474.78 on Wednesday. The business’s fifty day moving average price is $403.53 and its 200 day moving average price is $312.67. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $493.98. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $138.61 billion, a P/E ratio of 16.32, a PEG ratio of 0.14 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The firm’s revenue was up 53.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.96 earnings per share. As a group, research analysts anticipate that Marathon Petroleum Corporation will post 62.78 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum’s payout ratio is currently 13.75%.

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.