Harrell Investment Partners LLC Reduces Stake in Marathon Petroleum Co. (NYSE:MPC)

Harrell Investment Partners LLC lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,295 shares of the oil and gas company’s stock after selling 648 shares during the quarter. Marathon Petroleum makes up approximately 2.1% of Harrell Investment Partners LLC’s portfolio, making the stock its 15th biggest holding. Harrell Investment Partners LLC’s holdings in Marathon Petroleum were worth $7,379,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Raymond James & Associates lifted its stake in shares of Marathon Petroleum by 2.6% during the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after buying an additional 107,915 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Marathon Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock valued at $620,815,000 after purchasing an additional 31,100 shares during the period. Boston Partners boosted its stake in Marathon Petroleum by 0.3% in the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after purchasing an additional 8,476 shares during the period. Pacer Advisors Inc. grew its holdings in Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after buying an additional 209,270 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Marathon Petroleum by 7.6% during the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock valued at $335,241,000 after buying an additional 117,790 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 0.9 %

Shares of NYSE:MPC traded down $1.49 during trading on Monday, reaching $162.77. 292,745 shares of the company traded hands, compared to its average volume of 2,684,153. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The business’s fifty day moving average is $168.89 and its 200-day moving average is $177.06. The firm has a market capitalization of $57.35 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.32 earnings per share. As a group, analysts forecast that Marathon Petroleum Co. will post 10.22 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 16.48%.

Analyst Ratings Changes

Several brokerages recently commented on MPC. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Wolfe Research assumed coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price on the stock. Mizuho cut their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Morgan Stanley dropped their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average price target of $190.73.

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.