OLD National Bancorp IN Sells 1,996 Shares of Marathon Petroleum Co. (NYSE:MPC)

OLD National Bancorp IN trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 5.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,772 shares of the oil and gas company’s stock after selling 1,996 shares during the quarter. OLD National Bancorp IN’s holdings in Marathon Petroleum were worth $5,503,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SWS Partners raised its position in shares of Marathon Petroleum by 19.0% during the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock worth $2,452,000 after purchasing an additional 2,806 shares during the period. Greatmark Investment Partners Inc. grew its holdings in 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 buying an additional 5,476 shares in the last quarter. TCTC Holdings LLC grew its holdings in 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 buying an additional 2,892 shares in the last quarter. Cambridge Financial Group Inc. bought a new stake in Marathon Petroleum during the fourth quarter worth $5,624,000. Finally, Principal Securities Inc. grew its holdings in Marathon Petroleum by 10.3% during the fourth quarter. Principal Securities Inc. now owns 5,550 shares of the oil and gas company’s stock worth $774,000 after buying an additional 516 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MPC has been the subject of several recent research reports. Barclays upped their price target on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Piper Sandler decreased their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Scotiabank decreased their price target on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Morgan Stanley reduced their price objective on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, Mizuho upped their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $175.29.

Marathon Petroleum Stock Up 1.2%

MPC stock opened at $160.18 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a market capitalization of $49.21 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 3.11 and a beta of 0.89. Marathon Petroleum Co. has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The stock has a fifty day moving average of $143.86 and a 200-day moving average of $146.06.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.58 EPS. As a group, equities research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.27%. Marathon Petroleum’s payout ratio is 51.20%.

Insider Buying and Selling

In related news, insider Ricky D. Hessling acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the acquisition, the insider now owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This trade represents a 19.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by 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.