Marathon Petroleum Corporation (NYSE:MPC) Shares Acquired by Harrell Investment Partners LLC

Harrell Investment Partners LLC lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,208 shares of the oil and gas company’s stock after buying an additional 1,359 shares during the period. Harrell Investment Partners LLC’s holdings in Marathon Petroleum were worth $4,692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SWS Partners increased its holdings in shares of Marathon Petroleum by 19.0% during the 4th quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock worth $2,452,000 after buying an additional 2,806 shares during the last quarter. Greatmark Investment Partners Inc. increased its holdings in shares of Marathon Petroleum by 3.5% during the 4th quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company’s stock worth $22,483,000 after buying an additional 5,476 shares during the last quarter. TCTC Holdings LLC increased its holdings in shares of Marathon Petroleum by 3.3% during the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock worth $12,730,000 after buying an additional 2,892 shares during the last quarter. Cambridge Financial Group Inc. acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth $5,624,000. Finally, Principal Securities Inc. increased its holdings in shares of Marathon Petroleum by 10.3% during the 4th quarter. Principal Securities Inc. now owns 5,550 shares of the oil and gas company’s stock worth $774,000 after buying an additional 516 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $167.37 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The firm has a 50-day moving average of $149.94 and a two-hundred day moving average of $146.70. The stock has a market cap of $51.42 billion, a P/E ratio of 23.54, a PEG ratio of 3.35 and a beta of 0.89. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.31.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business had revenue of $31.85 billion for the quarter, compared to analysts’ expectations of $28.91 billion. During the same quarter last year, the company posted $2.58 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.17%. Marathon Petroleum’s payout ratio is 51.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Evercore ISI assumed coverage on shares of Marathon Petroleum in a research report on Wednesday. They set an “in-line” rating and a $170.00 price target for the company. Raymond James Financial decreased their price target on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $180.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 11th. Finally, Piper Sandler decreased their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.80.

About Marathon Petroleum

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.