Fiduciary Trust Co. cut its stake in Marathon Petroleum Corporation (NYSE:MPC) by 10.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,276 shares of the oil and gas company’s stock after selling 6,436 shares during the quarter. Fiduciary Trust Co.’s holdings in Marathon Petroleum Corporation were worth $2,788,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MPC. Blockhouse Capital Management LP acquired a new position in Marathon Petroleum Corporation during the first quarter worth $14,970,000. Fox Run Management L.L.C. increased its position in Marathon Petroleum Corporation by 143.6% during the second quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock worth $1,402,000 after buying an additional 15,800 shares during the last quarter. Buckingham Asset Management LLC increased its position in Marathon Petroleum Corporation by 2.1% during the first quarter. Buckingham Asset Management LLC now owns 4,141 shares of the oil and gas company’s stock worth $209,000 after buying an additional 87 shares during the last quarter. Heritage Way Advisors LLC increased its position in Marathon Petroleum Corporation by 2.4% during the second quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock worth $1,935,000 after buying an additional 850 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Marathon Petroleum Corporation by 1.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,119,312 shares of the oil and gas company’s stock worth $56,570,000 after buying an additional 12,792 shares during the last quarter. 78.85% of the stock is currently owned by institutional investors and hedge funds.

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Marathon Petroleum Corporation (MPC) traded up 0.12% during midday trading on Wednesday, reaching $51.85. 859,639 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $53.39 and a 200 day moving average price of $51.94. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81. The company has a market cap of $26.25 billion, a price-to-earnings ratio of 30.92 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 for the quarter, missing the consensus estimate of $1.04 by $0.01. The firm 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Analysts anticipate that Marathon Petroleum Corporation will post $2.73 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, August 14th. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 3.09%. Marathon Petroleum Corporation’s payout ratio is currently 90.91%.

Several equities analysts have commented on the stock. Wells Fargo & Company downgraded shares of Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Bank of America Corporation downgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a research report on Tuesday. ValuEngine raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Scotiabank reissued a “hold” rating and set a $55.00 target price on shares of Marathon Petroleum Corporation in a research report on Friday, September 1st. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $71.00 target price on shares of Marathon Petroleum Corporation in a research report on Thursday, August 31st. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Marathon Petroleum Corporation has an average rating of “Buy” and a consensus target price of $59.43.

In other news, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.05% of the stock is 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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