Adell Harriman & Carpenter Inc. Trims Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Adell Harriman & Carpenter Inc. decreased its position in Marathon Petroleum Co. (NYSE:MPC) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,200 shares of the oil and gas company’s stock after selling 318 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Marathon Petroleum were worth $6,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Denali Advisors LLC acquired a new stake in Marathon Petroleum during the 3rd quarter worth about $197,000. Valeo Financial Advisors LLC grew its position in shares of Marathon Petroleum by 3.1% during the 3rd quarter. Valeo Financial Advisors LLC now owns 7,155 shares of the oil and gas company’s stock valued at $1,083,000 after acquiring an additional 213 shares during the period. Avestar Capital LLC acquired a new stake in Marathon Petroleum in the 3rd quarter worth about $208,000. Bill Few Associates Inc. purchased a new stake in Marathon Petroleum during the 3rd quarter worth approximately $231,000. Finally, Atlantic Union Bankshares Corp increased its stake in Marathon Petroleum by 9.2% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 16,361 shares of the oil and gas company’s stock worth $2,476,000 after buying an additional 1,376 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the sale, the director now directly owns 23,446 shares of the company’s stock, valued at $3,994,026.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their price objective on Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Raymond James boosted their target price on Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their target price on Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Bank of America upped their price objective on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, Piper Sandler upped their price objective on Marathon Petroleum from $159.00 to $204.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average target price of $193.77.

Marathon Petroleum Stock Up 1.1 %

Marathon Petroleum stock traded up $2.12 during midday trading on Monday, hitting $200.51. 2,013,808 shares of the stock were exchanged, compared to its average volume of 2,747,998. Marathon Petroleum Co. has a 1 year low of $104.32 and a 1 year high of $221.11. The firm has a market cap of $72.25 billion, a P/E ratio of 8.53, a P/E/G ratio of 1.61 and a beta of 1.52. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.13. The company has a 50 day moving average price of $192.39 and a two-hundred day moving average price of $167.07.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share for the quarter, topping the consensus estimate of $2.21 by $1.77. The company had revenue of $36.26 billion during the quarter, compared to the consensus estimate of $34.90 billion. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The company’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.65 EPS. On average, sell-side analysts predict that Marathon Petroleum Co. will post 20.49 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a $0.825 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.65%. Marathon Petroleum’s payout ratio is currently 14.02%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.