Rhumbline Advisers raised its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 926,793 shares of the oil and gas company’s stock after buying an additional 3,896 shares during the period. Rhumbline Advisers owned about 0.18% of Marathon Petroleum Corporation worth $48,499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Oakbrook Investments LLC raised its position in Marathon Petroleum Corporation by 2.9% in the first quarter. Oakbrook Investments LLC now owns 49,000 shares of the oil and gas company’s stock valued at $2,476,000 after buying an additional 1,400 shares during the last quarter. Wendell David Associates Inc. raised its position in Marathon Petroleum Corporation by 5.2% in the first quarter. Wendell David Associates Inc. now owns 36,638 shares of the oil and gas company’s stock valued at $1,852,000 after buying an additional 1,800 shares during the last quarter. Hengehold Capital Management LLC raised its position in Marathon Petroleum Corporation by 12.2% in the first quarter. Hengehold Capital Management LLC now owns 36,403 shares of the oil and gas company’s stock valued at $1,840,000 after buying an additional 3,952 shares during the last quarter. Boys Arnold & Co. Inc. raised its position in Marathon Petroleum Corporation by 1.6% in the first quarter. Boys Arnold & Co. Inc. now owns 15,972 shares of the oil and gas company’s stock valued at $807,000 after buying an additional 248 shares during the last quarter. Finally, Hartford Investment Management Co. raised its position in Marathon Petroleum Corporation by 13.2% in the first quarter. Hartford Investment Management Co. now owns 147,217 shares of the oil and gas company’s stock valued at $7,440,000 after buying an additional 17,182 shares during the last quarter. 81.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Marathon Petroleum Corporation (NYSE:MPC) opened at 52.16 on Friday. The stock’s 50 day moving average price is $54.14 and its 200 day moving average price is $51.64. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81. The company has a market cap of $26.41 billion, a P/E ratio of 31.10 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The firm had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same period in the prior year, the business earned $1.07 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Marathon Petroleum Corporation will post $2.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be given a $0.40 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is currently 81.82%.

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Several research firms recently weighed in on MPC. BidaskClub raised Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Cowen and Company upped their price target on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and set a $54.83 price target (down from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Finally, Scotiabank set a $55.00 price target on Marathon Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, July 11th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $58.62.

In related news, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP C. Michael Palmer sold 4,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total value of $213,000.00. Following the completion of the sale, the vice president now directly owns 61,757 shares in the company, valued at approximately $3,288,560.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,568 shares of company stock worth $1,808,969. 1.05% of the stock is owned by company insiders.

About Marathon Petroleum Corporation

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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