Bahl & Gaynor Inc. Trims Stake in Marathon Petroleum Co. (NYSE:MPC)

Bahl & Gaynor Inc. reduced its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,141 shares of the oil and gas company’s stock after selling 720 shares during the period. Bahl & Gaynor Inc.’s holdings in Marathon Petroleum were worth $466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Denali Advisors LLC bought a new position in Marathon Petroleum during the third quarter valued at $197,000. Valeo Financial Advisors LLC boosted its stake in Marathon Petroleum by 3.1% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,155 shares of the oil and gas company’s stock worth $1,083,000 after purchasing an additional 213 shares in the last quarter. Hemington Wealth Management acquired a new stake in Marathon Petroleum in the 3rd quarter worth approximately $208,000. Reston Wealth Management LLC acquired a new stake in Marathon Petroleum during the 3rd quarter valued at approximately $203,000. Finally, Avestar Capital LLC acquired a new stake in Marathon Petroleum during the 3rd quarter valued at approximately $208,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $170.35, for a total value of $170,350.00. Following the transaction, the director now directly owns 23,446 shares in the company, valued at $3,994,026.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on MPC shares. Bank of America boosted their price target on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Citigroup started coverage on shares of Marathon Petroleum in a research note on Wednesday, January 24th. They issued a “neutral” rating for the company. Mizuho raised their price objective on shares of Marathon Petroleum from $201.00 to $202.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Raymond James boosted their price target on shares of Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 31st. Finally, Piper Sandler upped their target price on shares of Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $193.77.

Marathon Petroleum Price Performance

NYSE MPC opened at $198.39 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 1.59. The stock has a 50-day simple moving average of $192.39 and a 200 day simple moving average of $166.94. The stock has a market capitalization of $71.49 billion, a PE ratio of 8.43, a P/E/G ratio of 1.61 and a beta of 1.52. Marathon Petroleum Co. has a twelve month low of $104.32 and a twelve month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $1.77. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. The firm had revenue of $36.26 billion for the quarter, compared to analyst estimates of $34.90 billion. During the same period in the previous year, the company posted $6.65 earnings per share. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. Research analysts anticipate that Marathon Petroleum Co. will post 20.49 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a $0.825 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a yield of 1.66%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 14.02%.

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.