Johnson Investment Counsel Inc. Increases Stock Holdings in Marathon Petroleum Corporation $MPC

Johnson Investment Counsel Inc. raised its stake in Marathon Petroleum Corporation (NYSE:MPC) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,466 shares of the oil and gas company’s stock after purchasing an additional 524 shares during the period. Johnson Investment Counsel Inc.’s holdings in Marathon Petroleum were worth $2,403,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Marathon Petroleum by 12.3% in the first 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 acquiring an additional 3,834,501 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Marathon Petroleum by 18.7% in the first 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 acquiring an additional 1,862,674 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of Marathon Petroleum by 6.3% in the first quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock valued at $879,608,000 after acquiring an additional 355,215 shares during the period. Boston Partners boosted its holdings in shares of Marathon Petroleum by 58.5% in 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 acquiring an additional 2,011,810 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Marathon Petroleum by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock valued at $725,878,000 after acquiring an additional 178,397 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Evercore ISI increased their price target on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Thursday. Finally, Morgan Stanley increased their price target on Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.31.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $183.36 on Tuesday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The business has a fifty day moving average of $179.03 and a two-hundred day moving average of $163.99. The company has a market cap of $55.75 billion, a P/E ratio of 27.20, a price-to-earnings-growth 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 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter last year, the company earned $4.12 earnings per share. Marathon Petroleum’s quarterly revenue was down 11.1% compared to the same quarter last year. As a group, analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Insider Buying and Selling

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on 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 transaction, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

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.