Cadence Capital Management LLC reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,840 shares of the oil and gas company’s stock after selling 716 shares during the period. Cadence Capital Management LLC’s holdings in Marathon Petroleum Corporation were worth $4,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MPC. Guardian Life Insurance Co. of America raised its position in shares of Marathon Petroleum Corporation by 0.7% in 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 last quarter. FTB Advisors Inc. raised its position in shares of Marathon Petroleum Corporation by 484.9% in 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 last quarter. Lee Financial Co raised its position in shares of Marathon Petroleum Corporation by 2.4% in 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 last quarter. Jacobi Capital Management LLC raised its position in shares of Marathon Petroleum Corporation by 32.2% in 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 last quarter. Finally, Tarbox Group Inc. raised its position in shares of Marathon Petroleum Corporation by 1.5% in the first quarter. Tarbox Group Inc. now owns 2,423 shares of the oil and gas company’s stock valued at $122,000 after buying an additional 36 shares during the last quarter. Institutional investors own 81.36% of the company’s stock.

Shares of Marathon Petroleum Corporation (MPC) traded down 0.6194% on Monday, reaching $49.7996. The company’s stock had a trading volume of 241,633 shares. The stock has a market capitalization of $25.21 billion, a price-to-earnings ratio of 29.6956 and a beta of 1.56. The stock has a 50-day moving average of $54.03 and a 200 day moving average of $51.70. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81.

Marathon Petroleum Corporation (NYSE:MPC) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by $0.01. The firm had revenue of $18.35 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $1.07 earnings per share. On average, analysts expect that Marathon Petroleum Corporation will post $2.75 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 14th. 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 3.19%. Marathon Petroleum Corporation’s payout ratio is 90.91%.

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Several brokerages have recently commented on MPC. BidaskClub lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and set a $54.83 price objective (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Scotiabank set a $55.00 price objective on Marathon Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, July 11th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $62.00 price objective on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $58.62.

In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP C. Michael Palmer sold 4,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total transaction of $213,000.00. Following the completion of the transaction, the vice president now directly owns 61,757 shares of the company’s stock, valued at $3,288,560.25. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.

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.

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

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