Adams Natural Resources Fund Inc. Buys 83,111 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Adams Natural Resources Fund Inc. significantly increased its stake in Marathon Petroleum Corporation, acquiring 83,111 shares, bringing its total ownership to 104,312 shares, which represents 2.7% of the fund's portfolio.
• Marathon Petroleum reported an earnings per share of $3.96 in its latest quarter, outperforming expectations and showing a revenue of $34.1 billion, though down 11.1% year-over-year.
• The company announced a quarterly dividend of $0.91, resulting in a 2.0% dividend yield and a payout ratio of 54.01%.

Adams Natural Resources Fund Inc. lifted its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 392.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,312 shares of the oil and gas company's stock after acquiring an additional 83,111 shares during the quarter. Marathon Petroleum makes up 2.7% of Adams Natural Resources Fund Inc.'s portfolio, making the stock its 10th biggest holding. Adams Natural Resources Fund Inc.'s holdings in Marathon Petroleum were worth $17,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Baker Tilly Wealth Management LLC increased its stake in shares of Marathon Petroleum by 2.8% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company's stock worth $370,000 after acquiring an additional 60 shares during the last quarter. CHICAGO TRUST Co NA increased its stake in shares of Marathon Petroleum by 3.9% in the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company's stock worth $280,000 after acquiring an additional 63 shares during the last quarter. Werba Rubin Papier Wealth Management increased its stake in shares of Marathon Petroleum by 4.2% in the second quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company's stock worth $262,000 after acquiring an additional 64 shares during the last quarter. Sunpointe LLC increased its stake in shares of Marathon Petroleum by 4.1% in the second quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company's stock worth $291,000 after acquiring an additional 69 shares during the last quarter. Finally, Wallace Advisory Group LLC increased its position in Marathon Petroleum by 3.4% during the second quarter. Wallace Advisory Group LLC now owns 2,258 shares of the oil and gas company's stock worth $375,000 after buying an additional 75 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 1.8%

MPC stock opened at $182.90 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The company has a 50-day moving average of $181.64 and a two-hundred day moving average of $165.71. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61. The stock has a market capitalization of $55.60 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 2.90 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. During the same quarter last year, the company earned $4.12 earnings per share. The firm's revenue was down 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum's dividend payout ratio (DPR) is presently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on MPC shares. Piper Sandler increased their target price on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Barclays increased their target price on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an "overweight" rating in a research report on Monday, October 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Finally, Raymond James Financial reissued an "outperform" rating and set a $203.00 target price (up from $199.00) on shares of Marathon Petroleum in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $200.31.

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.

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