Adell Harriman & Carpenter Inc. Decreases Stock Holdings in Marathon Petroleum Corporation $MPC

Adell Harriman & Carpenter Inc. lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in shares of Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares in the last quarter. Woodline Partners LP grew its stake in shares of Marathon Petroleum by 38.3% during the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock worth $3,889,000 after acquiring an additional 7,396 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Marathon Petroleum by 26.6% during the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after acquiring an additional 466 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Marathon Petroleum during the second quarter valued at about $8,505,000. Finally, AXA S.A. raised its position in shares of Marathon Petroleum by 46.7% in the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock valued at $6,590,000 after purchasing an additional 12,639 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

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 stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $302.79 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $303.69. The company has a 50 day simple moving average of $258.62 and a two-hundred day simple moving average of $224.79. The stock has a market cap of $88.40 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 0.43 and a beta of 0.52.

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

Marathon Petroleum Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have weighed in on MPC shares. JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday. Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Finally, The Goldman Sachs Group upped 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. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $283.56.

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.