Adell Harriman & Carpenter Inc. Boosts Position in Marathon Petroleum Corporation $MPC

Adell Harriman & Carpenter Inc. raised its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 8.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 35,715 shares of the oil and gas company’s stock after purchasing an additional 2,730 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Marathon Petroleum were worth $5,933,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in MPC. Activest Wealth Management boosted its stake in Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 119 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 201 shares during the period. Hughes Financial Services LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at $32,000. WPG Advisers LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter worth $32,000. Finally, Operose Advisors LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter worth $42,000. Institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on MPC shares. BMO Capital Markets lifted their target price on Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Evercore ISI lifted their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research note on Friday, September 19th. Piper Sandler lifted their price objective on Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Mizuho lifted their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Finally, Morgan Stanley lifted their price objective on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.31.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $195.53 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The company has a market cap of $59.45 billion, a P/E ratio of 29.01, a PEG ratio of 4.02 and a beta of 0.90. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61. The company has a 50-day moving average price of $185.34 and a 200 day moving average price of $168.95.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.12 earnings per share. Research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio is 54.01%.

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.