Adams Natural Resources Fund Inc. Trims Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Adams Natural Resources Fund Inc. cut its position in Marathon Petroleum Co. (NYSE:MPC) by 21.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 108,812 shares of the oil and gas company’s stock after selling 30,500 shares during the quarter. Marathon Petroleum accounts for about 2.4% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 11th largest holding. Adams Natural Resources Fund Inc.’s holdings in Marathon Petroleum were worth $15,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of MPC. Wellington Management Group LLP boosted its stake in Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after buying an additional 4,328,470 shares during the period. Boston Partners boosted its position in shares of Marathon Petroleum by 37.4% during the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock valued at $480,501,000 after acquiring an additional 935,042 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Marathon Petroleum by 22.3% during the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock worth $495,595,000 after purchasing an additional 647,045 shares in the last quarter. National Bank of Canada FI increased its position in shares of Marathon Petroleum by 212.9% in the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock worth $137,945,000 after purchasing an additional 576,119 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Marathon Petroleum by 1,204.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after purchasing an additional 501,441 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Evan Bayh acquired 1,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the transaction, the director now owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This represents a 1.46 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ricky D. Hessling bought 2,000 shares of Marathon Petroleum stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on MPC. Piper Sandler lowered their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Barclays lifted their price target on Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. TD Cowen reissued a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Wells Fargo & Company upped their target price on Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $182.27.

Marathon Petroleum Stock Down 1.5 %

Shares of NYSE:MPC opened at $149.62 on Friday. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The stock’s 50-day moving average is $149.04 and its 200 day moving average is $152.32. The company has a market cap of $46.61 billion, a PE ratio of 15.07, a P/E/G ratio of 3.11 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The company had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.98 earnings per share. Sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

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.