Federated Hermes Inc. Sells 23,039 Shares of Marathon Petroleum Corporation $MPC

Federated Hermes Inc. lessened its position in Marathon Petroleum Corporation (NYSE:MPC) by 15.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 122,954 shares of the oil and gas company’s stock after selling 23,039 shares during the period. Federated Hermes Inc.’s holdings in Marathon Petroleum were worth $23,698,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of MPC. Valeo Financial Advisors LLC increased its holdings in Marathon Petroleum by 0.9% during the third quarter. Valeo Financial Advisors LLC now owns 8,771 shares of the oil and gas company’s stock worth $1,691,000 after buying an additional 79 shares during the last quarter. Truist Financial Corp raised its position in Marathon Petroleum by 3.3% during the third quarter. Truist Financial Corp now owns 58,877 shares of the oil and gas company’s stock valued at $11,348,000 after purchasing an additional 1,904 shares in the last quarter. Saxon Interests Inc. lifted its stake in Marathon Petroleum by 1.5% in the 3rd quarter. Saxon Interests Inc. now owns 7,520 shares of the oil and gas company’s stock valued at $1,351,000 after purchasing an additional 108 shares during the last quarter. Chilton Capital Management LLC boosted its stake in shares of Marathon Petroleum by 1.7% during the third quarter. Chilton Capital Management LLC now owns 4,066 shares of the oil and gas company’s stock valued at $784,000 after purchasing an additional 66 shares in the last quarter. Finally, Clark Financial Services Group Inc. BD lifted its holdings in Marathon Petroleum by 59.8% during the 3rd quarter. Clark Financial Services Group Inc. BD now owns 2,406 shares of the oil and gas company’s stock worth $464,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. Wall Street Zen lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Mizuho lifted their price target on shares of Marathon Petroleum from $198.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. Finally, Piper Sandler lowered their price objective on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $196.67.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $176.06 on Friday. The firm has a market cap of $52.92 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 1.80 and a beta of 0.74. The firm has a fifty day moving average price of $177.62 and a 200 day moving average price of $180.50. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $202.29.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The firm had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.