Marathon Petroleum Corporation (NYSE:MPC) Shares Acquired by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel has increased its stake in Marathon Petroleum Corporation by 31.6%, acquiring an additional 8,383 shares to hold a total of 34,935 shares valued at approximately $5.09 million.
• Reports indicate various institutional investors have also raised their stakes, with shared investment increases reported by Wellington Management (by 78.1%) and Bank of New York Mellon (by 3.7%). Overall, institutional investors own 76.77% of Marathon Petroleum's stock.
• Marathon Petroleum is currently trading at $171.64 and has seen price target adjustments from several analysts, with a consensus average price target of $183.93 and a mixed rating of buy, hold, and sell from various investment firms.

Carnegie Investment Counsel increased its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 31.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,935 shares of the oil and gas company's stock after acquiring an additional 8,383 shares during the period. Carnegie Investment Counsel's holdings in Marathon Petroleum were worth $5,090,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum during the 4th quarter worth about $26,000. CBIZ Investment Advisory Services LLC lifted its stake in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 201 shares in the last quarter. Hughes Financial Services LLC acquired a new position in Marathon Petroleum during the 1st quarter worth about $32,000. Decker Retirement Planning Inc. raised its position in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. TD Cowen increased their price target on Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Evercore ISI began coverage on Marathon Petroleum in a report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price objective on the stock. Finally, UBS Group increased their price objective on Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of "Hold" and a consensus target price of $183.93.

Marathon Petroleum Stock Performance

NYSE:MPC traded up $2.26 during mid-day trading on Monday, reaching $173.83. 173,408 shares of the stock were exchanged, compared to its average volume of 2,735,686. The company has a 50 day simple moving average of $167.65 and a 200-day simple moving average of $152.49. The stock has a market capitalization of $53.40 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.93 and a beta of 0.88. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. During the same period last year, the business posted $2.58 EPS. The company's revenue was down 4.1% on a year-over-year basis. Analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were paid a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.09%. Marathon Petroleum's dividend payout ratio (DPR) is currently 51.20%.

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.