First Merchants Corp Has $309,000 Holdings in Marathon Petroleum Corporation $MPC

First Merchants Corp lowered its stake in Marathon Petroleum Corporation (NYSE:MPC) by 8.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,863 shares of the oil and gas company’s stock after selling 167 shares during the period. First Merchants Corp’s holdings in Marathon Petroleum were worth $309,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after acquiring an additional 3,834,501 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after acquiring an additional 1,862,674 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Marathon Petroleum by 6.3% in the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after acquiring an additional 355,215 shares in the last quarter. Boston Partners boosted its holdings in shares of Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after acquiring an additional 2,011,810 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Marathon Petroleum by 3.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock worth $725,878,000 after buying an additional 178,397 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a research report on Thursday. Citigroup increased their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, Wolfe Research cut Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $198.92.

Marathon Petroleum Trading Down 0.6%

Shares of NYSE:MPC opened at $187.54 on Friday. The company has a 50-day simple moving average of $178.42 and a 200 day simple moving average of $163.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The company has a market capitalization of $57.02 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 3.17 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion during 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%. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period last year, the business posted $4.12 earnings per share. Sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

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.