IBM Retirement Fund increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 114.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,597 shares of the oil and gas company’s stock after buying an additional 6,731 shares during the period. IBM Retirement Fund’s holdings in Marathon Petroleum Corporation were worth $737,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Teachers Advisors LLC boosted its stake in Marathon Petroleum Corporation by 38.7% in the fourth quarter. Teachers Advisors LLC now owns 1,203,514 shares of the oil and gas company’s stock valued at $60,597,000 after buying an additional 335,580 shares during the last quarter. Foundry Partners LLC boosted its stake in Marathon Petroleum Corporation by 14.3% in the first quarter. Foundry Partners LLC now owns 251,346 shares of the oil and gas company’s stock valued at $12,703,000 after buying an additional 31,440 shares during the last quarter. Private Asset Management Inc. boosted its stake in Marathon Petroleum Corporation by 54.1% in the first quarter. Private Asset Management Inc. now owns 6,916 shares of the oil and gas company’s stock valued at $350,000 after buying an additional 2,428 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in Marathon Petroleum Corporation by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 460,873 shares of the oil and gas company’s stock valued at $23,293,000 after buying an additional 13,175 shares during the last quarter. Finally, Manning & Napier Advisors LLC boosted its stake in Marathon Petroleum Corporation by 9.8% in the first quarter. Manning & Napier Advisors LLC now owns 65,839 shares of the oil and gas company’s stock valued at $3,326,000 after buying an additional 5,892 shares during the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.

Shares of Marathon Petroleum Corporation (NYSE MPC) traded down 0.10% during mid-day trading on Friday, reaching $52.16. The company’s stock had a trading volume of 3,303,532 shares. Marathon Petroleum Corporation has a 12 month low of $39.29 and a 12 month high of $56.81. The company’s 50-day moving average is $54.14 and its 200 day moving average is $51.64. The firm has a market cap of $26.41 billion, a price-to-earnings ratio of 31.10 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $19.98 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. Marathon Petroleum Corporation’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Corporation will post $2.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be given a $0.40 dividend. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. 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%. Marathon Petroleum Corporation’s payout ratio is presently 81.82%.

TRADEMARK VIOLATION NOTICE: This report was first published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright and trademark law. The original version of this report can be read at https://theolympiareport.com/2017/08/12/marathon-petroleum-corporation-nysempc-shares-bought-by-ibm-retirement-fund-updated.html.

Several equities research analysts have weighed in on MPC shares. BidaskClub cut Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Cowen and Company increased their price target on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $61.00 price target on shares of Marathon Petroleum Corporation in a research note on Wednesday, April 19th. US Capital Advisors reiterated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $67.00 price target (down from $68.50) on shares of Marathon Petroleum Corporation in a research note on Saturday, April 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $58.62.

In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 4,000 shares of the business’s 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 transaction, the vice president now owns 61,757 shares in the company, valued at $3,288,560.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total transaction of $1,358,250.00. The disclosure for this sale can be found here. Insiders sold 33,568 shares of company stock worth $1,808,969 in the last 90 days. Corporate insiders own 1.05% of the company’s stock.

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)

Receive News & Ratings for Marathon Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.