Ferguson Wellman Capital Management Inc. Has $711,000 Stock Holdings in Marathon Petroleum Corporation $MPC

Ferguson Wellman Capital Management Inc. cut its position in Marathon Petroleum Corporation (NYSE:MPC) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,280 shares of the oil and gas company’s stock after selling 200 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Marathon Petroleum were worth $711,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MPC. Baker Tilly Wealth Management LLC lifted its position in shares of Marathon Petroleum by 2.8% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock worth $370,000 after buying an additional 60 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Marathon Petroleum by 53.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 6,833 shares of the oil and gas company’s stock worth $1,135,000 after purchasing an additional 2,366 shares during the last quarter. Fulton Bank N.A. increased its stake in shares of Marathon Petroleum by 2.7% during the 2nd quarter. Fulton Bank N.A. now owns 9,875 shares of the oil and gas company’s stock worth $1,640,000 after purchasing an additional 256 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Marathon Petroleum by 10.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 122,557 shares of the oil and gas company’s stock worth $21,576,000 after purchasing an additional 11,958 shares during the last quarter. Finally, Atticus Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $212,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MPC shares. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Citigroup lifted their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Barclays lifted their price objective on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, UBS Group lifted their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $189.64.

Insider Buying and Selling

In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $185.18 on Friday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $186.28. The company has a market cap of $56.30 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. The company has a 50-day moving average price of $173.10 and a 200-day moving average price of $158.11. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. Marathon Petroleum’s revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.12 earnings per share. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

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.