Marathon Petroleum Corporation $MPC Holdings Lowered by OLD National Bancorp IN

OLD National Bancorp IN lowered its stake in Marathon Petroleum Corporation (NYSE:MPC) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,176 shares of the oil and gas company’s stock after selling 596 shares during the quarter. OLD National Bancorp IN’s holdings in Marathon Petroleum were worth $6,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Good Steward Wealth Advisors LLC acquired a new stake in shares of Marathon Petroleum during the first quarter valued at approximately $346,000. Silver Oak Securities Incorporated purchased a new position in Marathon Petroleum during the 1st quarter worth approximately $339,000. Financial Partners Group LLC raised its stake in Marathon Petroleum by 65.8% during the 1st quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company’s stock valued at $574,000 after purchasing an additional 1,563 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Marathon Petroleum by 8.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company’s stock valued at $6,467,000 after purchasing an additional 3,291 shares in the last quarter. Finally, Jump Financial LLC boosted its position in shares of Marathon Petroleum by 128.0% in the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after buying an additional 4,863 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

NYSE MPC opened at $193.31 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $58.77 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.90. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The company has a 50 day moving average price of $177.02 and a two-hundred day moving average price of $162.33.

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 for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. The business had revenue of $34.10 billion for 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 for the quarter was down 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.12 EPS. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed 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 of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MPC. Raymond James Financial upped their price target on Marathon Petroleum from $195.00 to $199.00 and gave the company an “outperform” rating in a research report on Tuesday, September 9th. BMO Capital Markets upped their target price on Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Citigroup raised their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Finally, Mizuho lifted their target price on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Hold” and a consensus target price of $196.29.

Marathon Petroleum 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.