OLD National Bancorp IN Decreases Position in Marathon Petroleum Co. (NYSE:MPC)

OLD National Bancorp IN lessened its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the SEC. 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 quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MPC. Wellington Management Group LLP grew its position in Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock valued at $1,389,630,000 after purchasing an additional 4,367,774 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Marathon Petroleum by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company's stock valued at $670,151,000 after buying an additional 315,786 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Marathon Petroleum by 11.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company's stock valued at $613,624,000 after acquiring an additional 452,043 shares in the last quarter. Demars Financial Group LLC raised its holdings in Marathon Petroleum by 16,338.3% in the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock worth $582,710,000 after acquiring an additional 4,151,722 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Marathon Petroleum by 14.0% in the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock valued at $549,260,000 after acquiring an additional 484,438 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the transaction, the insider now owns 12,162 shares of the company's stock, valued at $1,638,464.64. The trade was a 19.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Price Performance

MPC traded up $0.13 on Monday, hitting $160.25. 1,895,786 shares of the company's stock traded hands, compared to its average volume of 2,699,980. The company's 50 day simple moving average is $143.86 and its 200-day simple moving average is $146.06. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a one year low of $115.10 and a one year high of $183.31. The firm has a market cap of $49.23 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 3.11 and a beta of 0.89.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The firm had revenue of $31.85 billion during 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%. Marathon Petroleum's revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 earnings per share. As a group, research analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

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

Analysts Set New Price Targets

MPC has been the subject of several recent analyst reports. TD Cowen boosted their price target on Marathon Petroleum from $142.00 to $152.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Wells Fargo & Company boosted their target price on Marathon Petroleum from $175.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Barclays raised their price target on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, Morgan Stanley lowered their target price on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $175.29.

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.