First Mercantile Trust Co. lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 23.3% during the second quarter, Holdings Channel reports. The fund owned 20,487 shares of the oil and gas company’s stock after selling 6,211 shares during the period. First Mercantile Trust Co.’s holdings in Marathon Petroleum Corporation were worth $1,072,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Guardian Life Insurance Co. of America increased its position in 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 worth $103,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. increased its position in 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 worth $104,000 after buying an additional 1,697 shares during the last quarter. Lee Financial Co increased its position in 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 worth $107,000 after buying an additional 48 shares during the last quarter. Carroll Financial Associates Inc. increased its position in Marathon Petroleum Corporation by 12.3% in the first quarter. Carroll Financial Associates Inc. now owns 2,287 shares of the oil and gas company’s stock worth $115,000 after buying an additional 250 shares during the last quarter. Finally, Jacobi Capital Management LLC increased its position in 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 worth $116,000 after buying an additional 570 shares during the last quarter. 81.58% of the stock is owned by institutional investors.

Marathon Petroleum Corporation (NYSE MPC) opened at 52.16 on Friday. The firm’s 50-day moving average price is $54.14 and its 200 day moving average price is $51.64. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81. The firm has a market cap of $26.41 billion, a P/E ratio of 31.10 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The company had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. During the same quarter in the prior year, the business earned $1.07 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Corporation will post $2.74 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 81.82%.

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A number of brokerages recently issued reports on MPC. Royal Bank Of Canada reiterated a “buy” rating and set a $69.00 target price on shares of Marathon Petroleum Corporation in a research report on Thursday, June 1st. BidaskClub upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Citigroup Inc. reiterated a “buy” rating and set a $67.00 target price (down previously from $68.50) on shares of Marathon Petroleum Corporation in a research report on Saturday, April 22nd. Jefferies Group LLC restated a “buy” rating and issued a $61.00 price objective on shares of Marathon Petroleum Corporation in a research report on Wednesday, April 19th. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $58.62.

In other news, 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 sale, the vice president now owns 61,757 shares in the company, valued at approximately $3,288,560.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 33,568 shares of company stock valued at $1,808,969. 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.

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

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