Federated Hermes Inc. Sells 94,391 Shares of Marathon Petroleum Co. (NYSE:MPC)

Federated Hermes Inc. trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 15.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 532,190 shares of the oil and gas company’s stock after selling 94,391 shares during the period. Federated Hermes Inc. owned about 0.14% of Marathon Petroleum worth $78,956,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Marino Stram & Associates LLC grew its position in Marathon Petroleum by 0.5% in the 4th quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock worth $1,695,000 after purchasing an additional 60 shares in the last quarter. SteelPeak Wealth LLC grew its position in shares of Marathon Petroleum by 0.3% during the 4th quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock valued at $3,028,000 after acquiring an additional 67 shares during the period. Aaron Wealth Advisors LLC grew its position in shares of Marathon Petroleum by 4.5% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock valued at $231,000 after acquiring an additional 67 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of Marathon Petroleum by 7.2% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,060 shares of the oil and gas company’s stock valued at $160,000 after acquiring an additional 71 shares during the period. Finally, Empower Advisory Group LLC grew its position in shares of Marathon Petroleum by 1.6% during the 3rd quarter. Empower Advisory Group LLC now owns 4,465 shares of the oil and gas company’s stock valued at $676,000 after acquiring an additional 72 shares during the period. 76.77% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Kim K.W. Rucker sold 1,000 shares of Marathon Petroleum stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the sale, the director now owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MPC shares. Mizuho increased their target price on shares of Marathon Petroleum from $201.00 to $202.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. TD Cowen raised their price objective 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 raised their price objective 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. StockNews.com raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Finally, Scotiabank raised their price objective on shares of Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $193.77.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $195.01 on Friday. The firm’s fifty day moving average price is $188.96 and its 200-day moving average price is $164.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 1.59. The stock has a market cap of $70.27 billion, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 1.92 and a beta of 1.52. Marathon Petroleum Co. has a fifty-two week low of $104.32 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 EPS for the quarter, beating the consensus estimate of $2.21 by $1.77. The company had revenue of $36.26 billion for the quarter, compared to analyst estimates of $34.90 billion. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $6.65 EPS. On average, equities research analysts expect that Marathon Petroleum Co. will post 17.57 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, February 20th. Marathon Petroleum’s payout ratio is 14.02%.

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.