Carnegie Investment Counsel Has $3.70 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Carnegie Investment Counsel trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,552 shares of the oil and gas company's stock after selling 2,635 shares during the period. Carnegie Investment Counsel's holdings in Marathon Petroleum were worth $3,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Gladius Capital Management LP acquired a new position in Marathon Petroleum during the third quarter valued at $26,000. MeadowBrook Investment Advisors LLC raised its position in Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after buying an additional 80 shares during the period. True Wealth Design LLC raised its position in Marathon Petroleum by 672.7% during the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after buying an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum during the third quarter valued at $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum during the third quarter valued at $33,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was acquired at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the transaction, the director now directly owns 6,090 shares of the company's stock, valued at $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on MPC shares. BMO Capital Markets dropped their target price on Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. Mizuho dropped their target price on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Piper Sandler dropped their target price on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, September 20th. Barclays dropped their target price on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. Finally, Wells Fargo & Company lowered their price objective on Marathon Petroleum from $186.00 to $182.00 and set an "overweight" rating on the stock in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum currently has an average rating of "Moderate Buy" and a consensus target price of $181.20.

Marathon Petroleum Stock Performance

Shares of MPC stock traded up $1.13 during mid-day trading on Friday, reaching $152.83. The stock had a trading volume of 2,479,994 shares, compared to its average volume of 2,802,449. The firm's 50 day simple moving average is $147.76 and its 200 day simple moving average is $159.31. 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 one year low of $130.54 and a one year high of $221.11. The firm has a market cap of $49.12 billion, a PE ratio of 12.11, a P/E/G ratio of 2.51 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter last year, the company earned $8.14 EPS. The company's quarterly revenue was down 14.9% on a year-over-year basis. On average, analysts forecast that Marathon Petroleum Co. will post 9.38 EPS for the current year.

Marathon Petroleum declared that its board has approved a stock buyback program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Wednesday, November 20th. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. Marathon Petroleum's dividend payout ratio (DPR) is 28.84%.

Marathon Petroleum Company 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.