First Merchants Corp Sells 3,400 Shares of Marathon Petroleum Co. (NYSE:MPC)

First Merchants Corp lowered its position in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 45.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,150 shares of the oil and gas company's stock after selling 3,400 shares during the quarter. First Merchants Corp's holdings in Marathon Petroleum were worth $579,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC raised its stake in shares of Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

MPC stock traded up $3.19 during trading hours on Tuesday, hitting $159.25. 2,835,044 shares of the stock were exchanged, compared to its average volume of 2,849,646. The firm has a market capitalization of $51.18 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.91 and a beta of 1.41. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. 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 company has a 50-day simple moving average of $146.06 and a two-hundred day simple moving average of $156.67.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum's quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.98 EPS. On average, analysts forecast that Marathon Petroleum Co. will post 8.7 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum's dividend payout ratio (DPR) is currently 36.66%.

Marathon Petroleum announced that its board has authorized a stock repurchase plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. TD Cowen reiterated a "buy" rating and set a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Raymond James upped their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the stock a "strong-buy" rating in a research note on Friday, January 17th. Tudor Pickering upgraded Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Wells Fargo & Company increased their price target on Marathon Petroleum from $182.00 to $183.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Finally, Barclays dropped their price target on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Marathon Petroleum presently has an average rating of "Moderate Buy" and a consensus target price of $181.27.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the purchase, the director now directly owns 6,090 shares of the company's stock, valued at $911,124.90. This represents a 6,666.67 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by insiders.

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.