Marathon Petroleum Corporation $MPC Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its position in Marathon Petroleum Corporation (NYSE:MPC) by 29.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,993 shares of the oil and gas company’s stock after selling 59,618 shares during the period. Federated Hermes Inc.’s holdings in Marathon Petroleum were worth $24,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Gamco Investors INC. ET AL increased its holdings in Marathon Petroleum by 402.8% in the second quarter. Gamco Investors INC. ET AL now owns 8,020 shares of the oil and gas company’s stock valued at $1,332,000 after buying an additional 6,425 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in shares of Marathon Petroleum by 27.9% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 605 shares of the oil and gas company’s stock worth $100,000 after acquiring an additional 132 shares in the last quarter. Victory Financial Group LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $1,234,000. Avestar Capital LLC raised its position in shares of Marathon Petroleum by 104.7% during the 2nd quarter. Avestar Capital LLC now owns 3,036 shares of the oil and gas company’s stock worth $504,000 after acquiring an additional 1,553 shares in the last quarter. Finally, StoneX Group Inc. purchased a new stake in Marathon Petroleum during the second quarter worth approximately $221,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 0.6%

MPC stock opened at $190.77 on Wednesday. The company has a market cap of $57.35 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 0.98 and a beta of 0.72. The company has a fifty day moving average price of $191.33 and a 200 day moving average price of $179.04. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $202.29.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The company had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be given a $1.00 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 annualized dividend and a yield of 2.1%. Marathon Petroleum’s payout ratio is presently 42.64%.

Analysts Set New Price Targets

Several equities analysts have commented on MPC shares. Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. JPMorgan Chase & Co. increased their target price on shares of Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Piper Sandler lifted their price target on shares of Marathon Petroleum from $220.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Tuesday. Finally, UBS Group raised their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $203.21.

About Marathon Petroleum

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.