Park National Corp OH Reduces Holdings in Marathon Petroleum Co. (NYSE:MPC)

Park National Corp OH lowered its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 46.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,666 shares of the oil and gas company's stock after selling 15,444 shares during the quarter. Park National Corp OH's holdings in Marathon Petroleum were worth $2,574,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Marathon Petroleum during the fourth quarter valued at $27,000. Asset Planning Inc purchased a new stake in Marathon Petroleum during the fourth quarter valued at $28,000. Sierra Ocean LLC purchased a new stake in Marathon Petroleum during the fourth quarter valued at $31,000. Finally, Cape Investment Advisory Inc. raised its position in shares of Marathon Petroleum by 762.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock valued at $42,000 after buying an additional 267 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Marathon Petroleum news, Director Evan Bayh acquired 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. This represents a 1.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ricky D. Hessling purchased 2,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the acquisition, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This trade represents a 19.68% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.21% of the company's stock.

Marathon Petroleum Trading Up 0.4%

MPC stock traded up $0.70 during trading on Friday, hitting $160.62. The company had a trading volume of 4,475,129 shares, compared to its average volume of 2,705,968. The firm has a market capitalization of $49.34 billion, a P/E ratio of 16.18, a PEG ratio of 3.11 and a beta of 0.87. The company has a 50 day simple moving average of $142.62 and a 200-day simple moving average of $146.23. Marathon Petroleum Co. has a 52-week low of $115.10 and a 52-week high of $183.31. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company's quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company posted $2.58 earnings per share. As a group, research analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal 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 dividend payout ratio is currently 51.20%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MPC. Piper Sandler decreased their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company upped their price objective on Marathon Petroleum from $175.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. TD Cowen increased their price target on Marathon Petroleum from $142.00 to $152.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Tudor Pickering upgraded Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, Raymond James reduced their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $175.29.

Marathon Petroleum Company 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.