Stifel Financial Corp lessened its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 28.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 197,619 shares of the oil and gas company’s stock after selling 78,592 shares during the quarter. Stifel Financial Corp’s holdings in Marathon Petroleum Corporation were worth $10,311,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Chip Partners Inc. purchased a new stake in shares of Marathon Petroleum Corporation during the second quarter worth about $100,000. Guardian Life Insurance Co. of America increased its holdings in shares of Marathon Petroleum Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock valued at $103,000 after acquiring an additional 14 shares in the last quarter. Lee Financial Co increased its holdings in shares of Marathon Petroleum Corporation by 2.4% during the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after acquiring an additional 48 shares in the last quarter. Jacobi Capital Management LLC increased its holdings in shares of Marathon Petroleum Corporation by 32.2% during the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after acquiring an additional 570 shares in the last quarter. Finally, First Interstate Bank increased its holdings in shares of Marathon Petroleum Corporation by 81.1% during the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after acquiring an additional 1,064 shares in the last quarter. 78.25% of the stock is owned by institutional investors and hedge funds.

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Shares of Marathon Petroleum Corporation (NYSE MPC) opened at 55.89 on Tuesday. Marathon Petroleum Corporation has a 52 week low of $40.01 and a 52 week high of $56.81. The stock has a 50 day moving average price of $52.90 and a 200-day moving average price of $52.44. The stock has a market cap of $28.29 billion, a P/E ratio of 33.33 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.01). The company had revenue of $18.35 billion during the quarter, compared to analysts’ expectations of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 earnings per share. Equities analysts predict that Marathon Petroleum Corporation will post $2.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio is 90.91%.

In related news, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.05% of the stock is owned by corporate insiders.

MPC has been the subject of several research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.83 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. BidaskClub raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Credit Suisse Group reissued a “buy” rating and set a $64.00 target price on shares of Marathon Petroleum Corporation in a research report on Friday, July 14th. Royal Bank Of Canada restated a “buy” rating and set a $71.00 price target on shares of Marathon Petroleum Corporation in a research note on Thursday, August 31st. Finally, ValuEngine upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $59.67.

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.

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

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