Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Adams Natural Resources Fund Inc.

Marathon Petroleum logo with Oils/Energy background

Adams Natural Resources Fund Inc. cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) by 6.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 173,312 shares of the oil and gas company’s stock after selling 11,400 shares during the quarter. Marathon Petroleum accounts for about 3.9% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 5th largest holding. Adams Natural Resources Fund Inc.’s holdings in Marathon Petroleum were worth $26,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Gleason Group Inc. boosted its position in Marathon Petroleum by 75.2% in the 3rd quarter. Gleason Group Inc. now owns 191 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 82 shares in the last quarter. St. Johns Investment Management Company LLC acquired a new stake in Marathon Petroleum during the second quarter valued at $29,000. Mascoma Wealth Management LLC purchased a new position in Marathon Petroleum in the third quarter valued at $43,000. True Wealth Design LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter worth about $38,000. Finally, Pacifica Partners Inc. purchased a new position in shares of Marathon Petroleum in the 3rd quarter valued at about $53,000. 74.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Carl Kristopher Hagedorn sold 1,436 shares of Marathon Petroleum stock in a transaction on Monday, November 13th. The shares were sold at an average price of $146.81, for a total transaction of $210,819.16. Following the completion of the sale, the vice president now directly owns 5,480 shares of the company’s stock, valued at approximately $804,518.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 1,436 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $146.81, for a total transaction of $210,819.16. Following the completion of the transaction, the vice president now owns 5,480 shares in the company, valued at approximately $804,518.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kim K.W. Rucker sold 6,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $152.43, for a total transaction of $914,580.00. Following the completion of the sale, the director now directly owns 24,098 shares in the company, valued at approximately $3,673,258.14. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Down 0.6 %

MPC traded down $0.90 on Friday, hitting $152.50. The company had a trading volume of 3,359,218 shares, compared to its average volume of 3,102,179. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.83. The firm has a market cap of $57.90 billion, a P/E ratio of 5.69, a PEG ratio of 1.72 and a beta of 1.50. The company’s fifty day moving average price is $149.14 and its 200 day moving average price is $142.28. Marathon Petroleum Co. has a 1 year low of $104.32 and a 1 year high of $162.31.

Marathon Petroleum (NYSE:MPCGet Free Report) last posted its quarterly earnings data on Tuesday, October 31st. The oil and gas company reported $8.14 earnings per share for the quarter, topping analysts’ consensus estimates of $7.79 by $0.35. The firm had revenue of $41.58 billion during the quarter, compared to analysts’ expectations of $37.67 billion. Marathon Petroleum had a net margin of 7.52% and a return on equity of 34.66%. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the company posted $7.81 EPS. As a group, equities analysts expect that Marathon Petroleum Co. will post 21.76 earnings per share for the current year.

Marathon Petroleum declared that its board has initiated a stock buyback program on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to buy up to 8.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Thursday, November 16th were paid a $0.825 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $3.30 dividend on an annualized basis and a yield of 2.16%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.75. Marathon Petroleum’s payout ratio is currently 12.32%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MPC shares. StockNews.com initiated coverage on Marathon Petroleum in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Barclays upped their price objective on shares of Marathon Petroleum from $152.00 to $155.00 in a research report on Thursday, October 5th. Mizuho dropped their target price on shares of Marathon Petroleum from $178.00 to $166.00 and set a “neutral” rating on the stock in a research report on Friday, October 6th. Bank of America boosted their target price on shares of Marathon Petroleum from $162.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, September 18th. Finally, Morgan Stanley raised their price target on shares of Marathon Petroleum from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, October 17th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.15.

Read Our Latest Research Report on MPC

Marathon Petroleum Company Profile

(Free Report)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

See Also

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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