Carnegie Investment Counsel Sells 1,864 Shares of Marathon Petroleum Corporation $MPC

Carnegie Investment Counsel reduced its position in Marathon Petroleum Corporation (NYSE:MPC) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,966 shares of the oil and gas company’s stock after selling 1,864 shares during the period. Carnegie Investment Counsel’s holdings in Marathon Petroleum were worth $7,805,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MPC. Diversified Trust Co. grew its holdings in shares of Marathon Petroleum by 39.3% in the fourth quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock valued at $2,549,000 after purchasing an additional 4,419 shares in the last quarter. USA Financial Formulas purchased a new stake in Marathon Petroleum during the fourth quarter valued at $791,000. North Dakota State Investment Board bought a new position in Marathon Petroleum during the fourth quarter valued at $1,714,000. KBC Group NV lifted its position in Marathon Petroleum by 22.4% during the fourth quarter. KBC Group NV now owns 225,837 shares of the oil and gas company’s stock valued at $36,728,000 after purchasing an additional 41,259 shares during the last quarter. Finally, KKM Financial LLC grew its stake in shares of Marathon Petroleum by 27.6% in the 3rd quarter. KKM Financial LLC now owns 26,202 shares of the oil and gas company’s stock worth $5,050,000 after buying an additional 5,661 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $283.60 on Monday. Marathon Petroleum Corporation has a 12-month low of $158.00 and a 12-month high of $287.15. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The firm has a 50-day moving average price of $256.82 and a 200-day moving average price of $222.90. The firm has a market capitalization of $82.79 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the prior year, the firm posted ($0.24) EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 32.96 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.4%. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the topic of several recent research reports. Piper Sandler upped their target price on shares of Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. TD Cowen dropped their price target on Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Monday, June 29th. The Goldman Sachs Group upped their price objective on Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley raised their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, UBS Group reiterated a “buy” rating and issued a $321.00 target price on shares of Marathon Petroleum in a report on Friday. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $277.31.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.