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

Adell Harriman & Carpenter Inc. trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,378 shares of the oil and gas company’s stock after selling 2,543 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Marathon Petroleum were worth $7,662,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MPC. Cedar Mountain Advisors LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter worth approximately $40,000. Navalign LLC bought a new position in Marathon Petroleum during the fourth quarter valued at $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at $31,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Marathon Petroleum in the third quarter valued at $39,000. Finally, Berbice Capital Management LLC lifted its holdings in shares of Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MPC. Bank of America lifted their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Raymond James Financial raised their price objective on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Monday. The Goldman Sachs Group boosted their target price on Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Jefferies Financial Group set a $335.00 target price on Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $344.00 price target on shares of Marathon Petroleum in a research note on Monday, June 15th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $283.56.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $302.79 on Wednesday. The firm’s 50 day simple moving average is $258.62 and its 200-day simple moving average is $224.79. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $303.69. The firm has a market cap of $88.40 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 0.43 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the previous year, the business earned ($0.24) earnings per share. Marathon Petroleum’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts predict that Marathon Petroleum Corporation will post 33 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. Marathon Petroleum’s dividend payout ratio is 26.11%.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

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.