Bp Plc continued to hold its position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, Holdings Channel reports. The firm owned 67,000 shares of the oil and gas company’s stock at the end of the second quarter. Bp Plc’s holdings in Marathon Petroleum Corporation were worth $3,507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boys Arnold & Co. Inc. boosted its position in shares of 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 worth $807,000 after buying an additional 248 shares during the last quarter. Hartford Investment Management Co. boosted its position in shares of 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 worth $7,440,000 after buying an additional 17,182 shares during the last quarter. Bank of The West boosted its position in shares of Marathon Petroleum Corporation by 28.4% in the first quarter. Bank of The West now owns 49,717 shares of the oil and gas company’s stock worth $2,512,000 after buying an additional 10,990 shares during the last quarter. Capital Investment Advisors LLC boosted its position in shares of Marathon Petroleum Corporation by 0.4% in the first quarter. Capital Investment Advisors LLC now owns 6,401 shares of the oil and gas company’s stock worth $324,000 after buying an additional 24 shares during the last quarter. Finally, CGOV Asset Management boosted its position in shares of Marathon Petroleum Corporation by 30.0% in the first quarter. CGOV Asset Management now owns 13,000 shares of the oil and gas company’s stock worth $875,000 after buying an additional 3,000 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) opened at 52.99 on Thursday. The company has a market cap of $26.81 billion, a price-to-earnings ratio of 30.51 and a beta of 1.56. The company has a 50 day moving average price of $54.10 and a 200 day moving average price of $51.61. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81.

Marathon Petroleum Corporation (NYSE:MPC) last released 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. 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 previous year, the company earned $1.07 earnings per share. Marathon Petroleum Corporation’s revenue was up 9.3% on a year-over-year basis. Equities analysts predict that Marathon Petroleum Corporation will post $2.73 EPS for the current year.

The company 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. This represents a $1.60 annualized dividend and a dividend yield of 3.02%. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio is presently 81.82%.

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A number of brokerages have issued reports on MPC. BidaskClub upgraded Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday. Cowen and Company lifted their target price on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and issued a $54.83 target price (down previously from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Finally, Scotiabank set a $55.00 target price on Marathon Petroleum Corporation and gave the stock a “hold” rating in a report on Tuesday, July 11th. Three investment 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 stock. Marathon Petroleum Corporation has an average rating of “Buy” and an average price target of $58.62.

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