Johnson Investment Counsel Inc. Sells 402 Shares of Marathon Petroleum Co. (NYSE:MPC)

Johnson Investment Counsel Inc. lessened its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,387 shares of the oil and gas company’s stock after selling 402 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Marathon Petroleum were worth $2,007,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. OLD Second National Bank of Aurora lifted its position in shares of Marathon Petroleum by 7.2% during the 4th quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock worth $139,000 after buying an additional 67 shares during the period. Nixon Peabody Trust Co. raised its position in Marathon Petroleum by 3.4% in the 4th quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 68 shares during the last quarter. Lake Street Advisors Group LLC raised its position in Marathon Petroleum by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 69 shares during the last quarter. American Trust raised its position in Marathon Petroleum by 5.3% in the 3rd quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after purchasing an additional 70 shares during the last quarter. Finally, DT Investment Partners LLC raised its position in Marathon Petroleum by 21.5% in the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 1.2 %

Shares of Marathon Petroleum stock opened at $134.65 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The business has a fifty day simple moving average of $148.53 and a 200 day simple moving average of $153.62. The stock has a market cap of $42.09 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data 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. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. During the same period in the previous year, the firm earned $3.98 earnings per share. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. Research analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.70%. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Raymond James lifted their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday, January 17th. Mizuho cut their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Piper Sandler cut their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Wells Fargo & Company lifted their target price on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. One 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $182.00.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Evan Bayh bought 1,000 shares of Marathon Petroleum stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the acquisition, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.

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.