Shikiar Asset Management Inc. increased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,480 shares of the oil and gas company’s stock after buying an additional 8,570 shares during the period. Marathon Petroleum Corporation accounts for 2.8% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 12th largest position. Shikiar Asset Management Inc.’s holdings in Marathon Petroleum Corporation were worth $6,462,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MPC. Blockhouse Capital Management LP acquired a new position in shares of Marathon Petroleum Corporation during the first quarter worth approximately $14,970,000. Hartford Investment Management Co. increased 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 in the last quarter. Buckingham Asset Management LLC increased its position in shares of Marathon Petroleum Corporation by 2.1% in 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 in the last quarter. Bank of The West increased 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 in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Marathon Petroleum Corporation by 1.2% in 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 in the last quarter. Institutional investors own 81.36% of the company’s stock.

Marathon Petroleum Corporation (MPC) opened at 51.89 on Wednesday. The firm has a market capitalization of $26.27 billion, a price-to-earnings ratio of 30.94 and a beta of 1.56. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81. The firm’s 50-day moving average is $54.18 and its 200-day moving average is $51.71.

Marathon Petroleum Corporation (NYSE:MPC) last issued 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. The business had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS. On average, equities analysts anticipate that Marathon Petroleum Corporation will post $2.74 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Monday, August 14th. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 90.91%.

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MPC has been the topic of a number of research reports. Citigroup Inc. reissued a “buy” rating and issued a $67.00 target price (down previously from $68.50) on shares of Marathon Petroleum Corporation in a research note on Saturday, April 22nd. Zacks Investment Research downgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $69.00 price target on shares of Marathon Petroleum Corporation in a research note on Thursday, June 1st. Scotiabank set a $55.00 price target on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 11th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $64.00 price target on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $58.62.

In other news, VP C. Michael Palmer sold 4,568 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $52.04, for a total value of $237,718.72. Following the transaction, the vice president now owns 62,325 shares of the company’s stock, valued at approximately $3,243,393. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas M. Kelley sold 25,000 shares of the firm’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 disclosure for this sale can be found here. Insiders sold a total of 33,568 shares of company stock worth $1,808,969 in the last ninety days. Insiders own 1.05% of the company’s stock.

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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