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

Johnson Investment Counsel Inc. trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 2.7% during the fourth quarter, HoldingsChannel.com reports. 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 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MPC. Wellington Management Group LLP lifted its holdings in shares of Marathon Petroleum by 342.1% in 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 purchasing an additional 4,328,470 shares in the last quarter. ING Groep NV bought a new stake in Marathon Petroleum during the third quarter worth about $114,107,000. Pacer Advisors Inc. raised its holdings in 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 acquiring an additional 647,045 shares in the last quarter. National Bank of Canada FI raised its holdings in Marathon Petroleum by 212.9% during 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 acquiring an additional 576,119 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings 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 worth $75,757,000 after acquiring an additional 501,441 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $134.65 on Wednesday. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The stock’s 50 day moving average is $148.53 and its 200-day moving average is $153.62. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $42.09 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 3.11 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.98 earnings per share. Equities research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

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 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Insider Buying and Selling

In related news, Director Evan Bayh purchased 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Mizuho dropped their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler dropped their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. TD Cowen reissued a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Raymond James boosted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

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.