Ironsides Asset Advisors LLC grew its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 74.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,575 shares of the oil and gas company’s stock after acquiring an additional 11,300 shares during the period. Marathon Petroleum comprises 0.5% of Ironsides Asset Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Ironsides Asset Advisors LLC’s holdings in Marathon Petroleum were worth $1,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Anchor Capital Advisors LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at approximately $2,007,000. Stephens Inc. AR grew its position in shares of Marathon Petroleum by 87.6% during the 2nd quarter. Stephens Inc. AR now owns 166,094 shares of the oil and gas company’s stock valued at $9,281,000 after acquiring an additional 77,563 shares during the period. TRUE Private Wealth Advisors purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at approximately $50,000. White Pine Investment CO lifted its stake in shares of Marathon Petroleum by 3.7% during the 2nd quarter. White Pine Investment CO now owns 71,390 shares of the oil and gas company’s stock valued at $3,989,000 after buying an additional 2,525 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Marathon Petroleum by 115.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 697,241 shares of the oil and gas company’s stock valued at $38,079,000 after buying an additional 373,862 shares in the last quarter. 76.94% of the stock is owned by hedge funds and other institutional investors.

In other news, Director James E. Rohr bought 12,500 shares of the stock in a transaction on Tuesday, June 11th. The shares were acquired at an average cost of $48.14 per share, for a total transaction of $601,750.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.06% of the company’s stock.

NYSE MPC traded up $0.20 on Thursday, hitting $44.83. The stock had a trading volume of 167,557 shares, compared to its average volume of 5,592,954. Marathon Petroleum Corp has a 52-week low of $44.27 and a 52-week high of $88.45. The company has a quick ratio of 0.63, a current ratio of 1.24 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $30.55 billion, a P/E ratio of 6.63, a price-to-earnings-growth ratio of 1.29 and a beta of 1.68. The business has a 50-day moving average of $53.84.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.40. Marathon Petroleum had a net margin of 2.36% and a return on equity of 9.55%. The business had revenue of $33.70 billion for the quarter, compared to analysts’ expectations of $33.26 billion. During the same period in the prior year, the company posted $2.27 EPS. The business’s revenue for the quarter was up 50.1% compared to the same quarter last year. Equities research analysts expect that Marathon Petroleum Corp will post 4.36 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 4.73%. The ex-dividend date is Tuesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 31.27%.

MPC has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, May 17th. Credit Suisse Group dropped their price target on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Wells Fargo & Co dropped their price target on shares of Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Royal Bank of Canada dropped their price target on shares of Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, Morgan Stanley dropped their price target on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, May 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $82.62.

Marathon Petroleum Profile

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

Read More: What is a death cross?

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

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