Oppenheimer Asset Management Inc. Sells 114 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Oppenheimer Asset Management Inc. reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 0.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 30,417 shares of the oil and gas company’s stock after selling 114 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Marathon Petroleum Corporation were worth $1,592,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MPC. Blue Chip Partners Inc. bought a new stake in Marathon Petroleum Corporation in the 2nd quarter valued at about $100,000. Guardian Life Insurance Co. of America increased its position in shares of Marathon Petroleum Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 14 shares during the period. FTB Advisors Inc. increased its position in shares of Marathon Petroleum Corporation by 484.9% during the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,697 shares during the period. Lee Financial Co increased its position in shares of Marathon Petroleum Corporation by 2.4% during the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 48 shares during the period. Finally, Jacobi Capital Management LLC increased its position in shares of Marathon Petroleum Corporation by 32.2% during the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 570 shares during the period. 78.85% of the stock is currently owned by institutional investors.

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Shares of Marathon Petroleum Corporation (NYSE:MPC) traded up 0.52% during trading on Friday, hitting $52.61. The stock had a trading volume of 1,396,893 shares. The firm has a market cap of $26.63 billion, a price-to-earnings ratio of 31.37 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’s 50-day moving average is $52.91 and its 200 day moving average is $52.05.

Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.01). Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The firm had revenue of $18.35 billion for the quarter, compared to analysts’ expectations of $19.98 billion. During the same period last year, the firm earned $1.07 EPS. Marathon Petroleum Corporation’s revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that Marathon Petroleum Corporation will post $2.90 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 3.06%. Marathon Petroleum Corporation’s payout ratio is 90.91%.

Several research analysts recently weighed in on the stock. Cowen and Company upped their price objective on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Scotiabank set a $55.00 price objective on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 11th. BidaskClub raised Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $62.00 price objective on shares of Marathon Petroleum Corporation in a research note on Thursday, May 25th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $59.67.

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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