Adell Harriman & Carpenter Inc. Sells 318 Shares of Marathon Petroleum Co. (NYSE:MPC)

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

Other institutional investors have also recently bought and sold shares of the company. Aspire Private Capital LLC grew its holdings in Marathon Petroleum by 4.4% during the third quarter. Aspire Private Capital LLC now owns 3,456 shares of the oil and gas company’s stock valued at $523,000 after purchasing an additional 145 shares during the period. Allworth Financial LP boosted its holdings in shares of Marathon Petroleum by 3.2% in the fourth quarter. Allworth Financial LP now owns 10,899 shares of the oil and gas company’s stock valued at $1,617,000 after buying an additional 340 shares during the period. Brandywine Global Investment Management LLC boosted its holdings in shares of Marathon Petroleum by 9.1% in the third quarter. Brandywine Global Investment Management LLC now owns 579,841 shares of the oil and gas company’s stock valued at $87,753,000 after buying an additional 48,540 shares during the period. Trust Point Inc. acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $738,000. Finally, Whittier Trust Co. boosted its holdings in shares of Marathon Petroleum by 6.4% in the fourth quarter. Whittier Trust Co. now owns 8,925 shares of the oil and gas company’s stock valued at $1,324,000 after buying an additional 537 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MPC. TD Cowen increased their target price on shares of Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Barclays increased their target price on shares of Marathon Petroleum from $168.00 to $221.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on shares of Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Piper Sandler lifted their price objective on shares of Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Raymond James lifted their price objective on shares of Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 31st. Five research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.77.

Insider Activity

In other 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 transaction, the director now directly owns 23,446 shares in the company, valued at approximately $3,994,026.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded up $2.12 during midday trading on Monday, hitting $200.51. The company’s stock had a trading volume of 2,013,808 shares, 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 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. The company has a market cap of $72.25 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 1.61 and a beta of 1.52.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data 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 business had revenue of $36.26 billion during the quarter, compared to analysts’ expectations of $34.90 billion. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The business’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.65 EPS. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 20.49 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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

Marathon Petroleum 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.