First Republic Investment Management Inc. lifted its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 253.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 139,980 shares of the oil and gas company’s stock after purchasing an additional 100,320 shares during the quarter. First Republic Investment Management Inc.’s holdings in Marathon Petroleum were worth $7,850,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Marathon Petroleum by 29.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 414,303 shares of the oil and gas company’s stock worth $23,234,000 after buying an additional 95,386 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Marathon Petroleum by 4.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 87,968 shares of the oil and gas company’s stock worth $4,933,000 after buying an additional 3,970 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in Marathon Petroleum by 17.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,051,031 shares of the oil and gas company’s stock worth $59,190,000 after buying an additional 156,800 shares during the period. Sheaff Brock Investment Advisors LLC boosted its stake in Marathon Petroleum by 89.8% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 11,625 shares of the oil and gas company’s stock worth $652,000 after buying an additional 5,500 shares during the period. Finally, BB&T Investment Services Inc. boosted its stake in Marathon Petroleum by 118.2% during the third quarter. BB&T Investment Services Inc. now owns 3,063 shares of the oil and gas company’s stock worth $178,000 after buying an additional 1,659 shares during the period. 80.83% of the stock is owned by hedge funds and other institutional investors.

Shares of Marathon Petroleum Corporation (NYSE MPC) opened at $64.75 on Friday. Marathon Petroleum Corporation has a 52-week low of $46.88 and a 52-week high of $65.41. The firm has a market capitalization of $31,624.68, a price-to-earnings ratio of 19.68, a PEG ratio of 1.55 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.29. The business had revenue of $19.36 billion during the quarter, compared to the consensus estimate of $19.38 billion. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. equities research analysts predict that Marathon Petroleum Corporation will post 3.83 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. Marathon Petroleum’s payout ratio is currently 49.08%.

Several research firms have commented on MPC. BidaskClub lowered shares of Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Jefferies Group set a $65.00 target price on Marathon Petroleum and gave the stock a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Monday, October 16th. Goldman Sachs Group downgraded Marathon Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Cowen lifted their target price on Marathon Petroleum from $60.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Marathon Petroleum has an average rating of “Buy” and a consensus target price of $66.25.

In related news, insider Anthony R. Kenney sold 77,578 shares of Marathon Petroleum stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C. Michael Palmer sold 11,450 shares of Marathon Petroleum stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The disclosure for this sale can be found here. Insiders sold 102,028 shares of company stock valued at $6,253,447 over the last 90 days. 1.05% of the stock is currently owned by corporate insiders.

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Marathon Petroleum 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 (NYSE:MPC)

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