Marathon Petroleum Corporation $MPC Shares Purchased by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. boosted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,466 shares of the oil and gas company’s stock after buying an additional 524 shares during the period. Johnson Investment Counsel Inc.’s holdings in Marathon Petroleum were worth $2,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. Vanguard Group Inc. raised its holdings in Marathon Petroleum by 12.3% in 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 buying an additional 3,834,501 shares during the period. Boston Partners raised its holdings in Marathon Petroleum by 58.5% in the 1st 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 during the period. Wellington Management Group LLP raised its holdings in Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after buying an additional 1,862,674 shares during the period. Nuveen LLC acquired a new position in Marathon Petroleum during the 1st quarter worth about $147,122,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Marathon Petroleum by 26.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock worth $535,465,000 after acquiring an additional 769,015 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Mizuho boosted their price target on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Raymond James Financial boosted their price target on shares of Marathon Petroleum from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. TD Cowen cut their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Citigroup boosted their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Finally, Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $199.31.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Up 1.4%

MPC stock opened at $183.36 on Tuesday. The company’s 50 day moving average price is $179.03 and its 200 day moving average price is $163.99. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The firm has a market capitalization of $55.75 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 3.04 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same period in the prior year, the firm earned $4.12 earnings per share. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

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.