2,117 Shares in Marathon Petroleum Corporation $MPC Bought by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,117 shares of the oil and gas company’s stock, valued at approximately $352,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after acquiring an additional 3,834,501 shares during the last quarter. Boston Partners boosted its holdings in Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after acquiring an additional 2,011,810 shares during the last quarter. Wellington Management Group LLP increased its position in Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after purchasing an additional 1,862,674 shares during the period. Nuveen LLC bought a new position in Marathon Petroleum during the 1st quarter worth approximately $147,122,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Marathon Petroleum by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock worth $535,465,000 after purchasing an additional 769,015 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 1.8%

NYSE MPC opened at $196.60 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The business has a fifty day simple moving average of $188.94 and a 200 day simple moving average of $173.44. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $202.25. The firm has a market capitalization of $59.10 billion, a P/E ratio of 20.96, a PEG ratio of 3.88 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The firm had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. On average, analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be given a $1.00 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 19th. Marathon Petroleum’s payout ratio is presently 38.81%.

Analyst Ratings Changes

A number of brokerages have commented on MPC. Piper Sandler upped their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, September 11th. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Wells Fargo & Company decreased their target price on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. UBS Group boosted their price target on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Finally, BMO Capital Markets raised their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average price target of $200.00.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% 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. 0.21% of the stock is currently owned by corporate insiders.

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.