Adell Harriman & Carpenter Inc. Cuts Stake in Marathon Petroleum Co. (NYSE:MPC)

Adell Harriman & Carpenter Inc. trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,735 shares of the oil and gas company’s stock after selling 1,120 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Marathon Petroleum were worth $5,822,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC boosted its stake in shares of Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at about $29,000. Wellington Shields & Co. LLC purchased a new stake in Marathon Petroleum during the first quarter worth about $40,000. TruNorth Capital Management LLC purchased a new position in Marathon Petroleum in the second quarter valued at about $35,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at approximately $35,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $145.28 on Wednesday. The firm has a market cap of $51.19 billion, a P/E ratio of 7.26, a P/E/G ratio of 3.03 and a beta of 1.37. The firm has a fifty day moving average of $164.28 and a two-hundred day moving average of $172.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. Marathon Petroleum Co. has a 1-year low of $140.98 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter in the prior year, the firm posted $5.32 earnings per share. Marathon Petroleum’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Marathon Petroleum Co. will post 8.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MPC shares. Wells Fargo & Company cut their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Barclays lowered their target price on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Wolfe Research initiated coverage on Marathon Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $200.00 price objective on the stock. BMO Capital Markets dropped their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, six have assigned 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, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $187.00.

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.