Marathon Petroleum Corporation $MPC Stock Holdings Increased by Harrell Investment Partners LLC

Key Points

• Harrell Investment Partners LLC increased its holdings in Marathon Petroleum by 8.7% in Q2, now owning 35,022 shares, making it the firm's 20th largest position.
• Marathon Petroleum recently reported earnings of $3.96 per share, exceeding analysts' expectations, with a revenue of $34.10 billion for the latest quarter.
• The company declared a quarterly dividend of $0.91 per share, translating to an annual yield of 1.9%, with a payout ratio of 54.01% as of the last dividend announcement.

Harrell Investment Partners LLC lifted its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,022 shares of the oil and gas company's stock after purchasing an additional 2,814 shares during the quarter. Marathon Petroleum accounts for approximately 1.5% of Harrell Investment Partners LLC's holdings, making the stock its 20th largest position. Harrell Investment Partners LLC's holdings in Marathon Petroleum were worth $5,817,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Marathon Petroleum by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock valued at $5,090,611,000 after purchasing an additional 3,834,501 shares in the last quarter. Boston Partners boosted its stake in Marathon Petroleum by 58.5% during the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock valued at $791,274,000 after buying an additional 2,011,810 shares in the last quarter. Wellington Management Group LLP grew its holdings in Marathon Petroleum by 18.7% during the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock worth $1,722,664,000 after acquiring an additional 1,862,674 shares during the period. GAMMA Investing LLC raised its position in Marathon Petroleum by 14,969.1% in the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock worth $224,503,000 after acquiring an additional 1,530,737 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Marathon Petroleum during the 1st quarter valued at about $147,122,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Up 1.1%

Shares of Marathon Petroleum stock opened at $193.05 on Thursday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $194.92. The company has a market cap of $58.69 billion, a P/E ratio of 28.64, a P/E/G ratio of 3.31 and a beta of 0.97. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average price of $174.16 and a 200 day moving average price of $159.52.

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

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum's dividend payout ratio (DPR) is 54.01%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Mizuho increased their target price on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, September 15th. TD Cowen cut their price objective on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Barclays lifted their target price on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Wells Fargo & Company upped their target price on Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $192.50.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

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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