Huntington National Bank Buys 1,366 Shares of Marathon Petroleum Co. (NYSE:MPC)

Huntington National Bank boosted its stake in Marathon Petroleum Co. (NYSE:MPC) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,622 shares of the oil and gas company’s stock after purchasing an additional 1,366 shares during the period. Huntington National Bank’s holdings in Marathon Petroleum were worth $4,411,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. SWS Partners lifted its stake in shares of Marathon Petroleum by 19.0% in the 4th quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock valued at $2,452,000 after acquiring an additional 2,806 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after purchasing an additional 501,441 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Marathon Petroleum by 747.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after purchasing an additional 18,764 shares in the last quarter. Greatmark Investment Partners Inc. grew its holdings in shares of Marathon Petroleum by 3.5% during the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company’s stock worth $22,483,000 after purchasing an additional 5,476 shares during the last quarter. Finally, TCTC Holdings LLC grew its holdings in shares of Marathon Petroleum by 3.3% during the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock worth $12,730,000 after purchasing an additional 2,892 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MPC. TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Mizuho decreased their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wells Fargo & Company raised their target price on Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Piper Sandler lowered their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $180.21.

Insider Activity at Marathon Petroleum

In other news, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the purchase, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $148.02 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average price is $148.53 and its 200-day moving average price is $151.21. The firm has a market capitalization of $46.11 billion, a P/E ratio of 14.91, a P/E/G ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. During the same period in the prior year, the company posted $3.98 earnings per share. Marathon Petroleum’s quarterly revenue was down 9.1% on a year-over-year basis. Equities research analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.46%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

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.