Adell Harriman & Carpenter Inc. Sells 3,329 Shares of Marathon Petroleum Co. (NYSE:MPC)

Adell Harriman & Carpenter Inc. lowered its holdings in Marathon Petroleum Co. (NYSE:MPC) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,855 shares of the oil and gas company’s stock after selling 3,329 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Marathon Petroleum were worth $6,394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fisher Asset Management LLC raised its holdings in shares of Marathon Petroleum by 23.1% in the fourth quarter. Fisher Asset Management LLC now owns 7,469 shares of the oil and gas company’s stock valued at $1,108,000 after purchasing an additional 1,404 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Marathon Petroleum by 8.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,174 shares of the oil and gas company’s stock valued at $174,000 after purchasing an additional 96 shares during the period. Summit Global Investments raised its stake in shares of Marathon Petroleum by 13.2% during the 4th quarter. Summit Global Investments now owns 2,036 shares of the oil and gas company’s stock worth $302,000 after purchasing an additional 237 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Marathon Petroleum by 56.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,040 shares of the oil and gas company’s stock worth $1,044,000 after buying an additional 2,551 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in Marathon Petroleum during the fourth quarter worth about $303,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. TD Cowen increased their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Piper Sandler decreased their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Wolfe Research began coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price for the company. Scotiabank reduced their price objective on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, Wells Fargo & Company cut their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.38.

Marathon Petroleum Trading Down 1.6 %

NYSE:MPC traded down $2.81 during midday trading on Tuesday, reaching $174.31. 252,444 shares of the stock traded hands, compared to its average volume of 2,606,043. The company has a fifty day moving average of $171.53 and a 200 day moving average of $180.36. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11. The stock has a market capitalization of $61.41 billion, a P/E ratio of 8.85, a PEG ratio of 2.33 and a beta of 1.40. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. Marathon Petroleum’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $5.32 EPS. On average, research analysts predict that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

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.