CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Purchases 11,000 Shares of Marathon Petroleum Corporation $MPC

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 22.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,800 shares of the oil and gas company’s stock after buying an additional 11,000 shares during the period. Marathon Petroleum comprises approximately 1.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 29th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Marathon Petroleum were worth $24,042,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MPC. BlackRock Inc. bought a new stake in shares of Marathon Petroleum during the second quarter worth approximately $6,648,958,000. Bank of New York Mellon Corp bought a new stake in Marathon Petroleum during the second quarter worth about $1,029,611,000. Bank of America Corp DE lifted its holdings 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 during the period. Amundi boosted its holdings in shares of Marathon Petroleum by 17.5% in the 2nd 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Marathon Petroleum by 16.7% in 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 valued at $385,675,000 after buying an additional 215,686 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings upgraded Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Citigroup increased their target price 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. Morgan Stanley raised their price target on shares of Marathon Petroleum from $265.00 to $453.00 and gave the company an “overweight” rating in a research note on Monday, September 14th. Wells Fargo & Company lifted their price target on shares of Marathon Petroleum from $400.00 to $560.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Finally, Zacks Research upgraded shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $424.31.

Insider Activity

In related news, SVP Shawn Lyon sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. This represents a 16.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the transaction, the vice president owned 1,576 shares in the company, valued at $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,691 shares of company stock valued at $7,780,127 in the last ninety days. 0.17% of the stock is owned by company insiders.

Key Stories Impacting Marathon Petroleum

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

• Positive Sentiment: Marathon Petroleum is heading into earnings with strong refining margins, raising expectations that the company could deliver solid results and maintain favorable near-term earnings momentum. Marathon Petroleum Rides Firm Refining Margins Into Earnings
• Positive Sentiment: Raymond James raised its price target for MPC to $560, signaling increased confidence in the refiner’s earnings outlook and potential upside. Raymond James Raises Target for Marathon Petroleum
• Positive Sentiment: A Zacks article identifies Marathon Petroleum as a No. 1 Strong Buy, adding to the positive analyst and quantitative sentiment surrounding the stock. This Top Oils and Energy Stock Is a No. 1 Strong Buy
• Positive Sentiment: High U.S. gasoline prices, thin fuel stockpiles and disrupted shipping routes are improving the operating environment for refiners, potentially supporting MPC’s margins and cash generation. Three Oil Stocks Retail Investors Are Watching
• Neutral Sentiment: Industry commentary on Phillips 66’s crude flexibility reinforces the importance of feedstock discounts and crude spreads to refining profitability, although the article does not provide a direct new catalyst for MPC. How PSX’s Flexible Crude Slate Supports Refining Economics
• Negative Sentiment: ETFs were reported as net sellers of Marathon Petroleum shares, creating modest technical or near-term supply pressure despite the broader favorable fundamental narrative. ETFs Are Net Sellers of Marathon Petroleum

Marathon Petroleum Stock Up 2.8%

Marathon Petroleum stock opened at $470.02 on Tuesday. The firm has a market cap of $137.22 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 0.12 and a beta of 0.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $493.98. The firm has a 50 day moving average price of $409.37 and a two-hundred day moving average price of $283.02.

Marathon Petroleum (NYSE:MPC) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter in the prior year, the firm posted $3.96 earnings per share. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum Corporation will post 64.12 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum’s payout ratio is currently 13.75%.

Marathon Petroleum 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.