Marathon Capital Management Purchases 15 Shares of Marathon Petroleum Corporation (MPC)

Marathon Capital Management raised its stake in Marathon Petroleum Corporation (NYSE:MPC) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,317 shares of the oil and gas company’s stock after purchasing an additional 15 shares during the period. Marathon Capital Management’s holdings in Marathon Petroleum Corporation were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Marathon Petroleum Corporation by 2,779.4% during the 1st quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock worth $2,836,372,000 after acquiring an additional 54,172,304 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Marathon Petroleum Corporation by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 37,711,603 shares of the oil and gas company’s stock worth $1,905,944,000 after acquiring an additional 1,549,473 shares in the last quarter. State Street Corp raised its position in shares of Marathon Petroleum Corporation by 0.4% during the 1st quarter. State Street Corp now owns 28,029,983 shares of the oil and gas company’s stock worth $1,416,636,000 after acquiring an additional 107,894 shares in the last quarter. Boston Partners raised its position in shares of Marathon Petroleum Corporation by 1.8% during the 1st quarter. Boston Partners now owns 14,798,820 shares of the oil and gas company’s stock worth $747,933,000 after acquiring an additional 267,469 shares in the last quarter. Finally, Kensico Capital Management Corp raised its position in shares of Marathon Petroleum Corporation by 7.7% during the 1st quarter. Kensico Capital Management Corp now owns 9,260,000 shares of the oil and gas company’s stock worth $468,000,000 after acquiring an additional 660,000 shares in the last quarter. 78.25% of the stock is currently owned by institutional investors.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub raised Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and set a $54.83 target price (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Cowen and Company raised their target price on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $64.00 price target on shares of Marathon Petroleum Corporation in a research report on Friday, July 14th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $59.67.

In related news, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.05% of the stock is owned by company insiders.

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Marathon Petroleum Corporation (MPC) opened at 54.73 on Friday. The stock has a market capitalization of $27.71 billion, a P/E ratio of 32.64 and a beta of 1.56. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81. The firm has a 50 day moving average price of $52.72 and a 200 day moving average price of $52.13.

Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.01). The company had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. Equities research analysts predict that Marathon Petroleum Corporation will post $2.95 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Wednesday, August 16th were given a $0.40 dividend. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.92%. The ex-dividend date was Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is currently 90.91%.

Marathon Petroleum Corporation Company Profile

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

Institutional Ownership by Quarter for Marathon Petroleum Corporation (NYSE:MPC)

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