Paradigm Asset Management Co. LLC lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,900 shares of the oil and gas company’s stock after selling 250 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Marathon Petroleum Corporation were worth $152,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Marathon Petroleum Corporation by 2,779.4% in the first quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock worth $2,836,372,000 after buying an additional 54,172,304 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in shares of Marathon Petroleum Corporation by 209.4% in the first quarter. Iridian Asset Management LLC CT now owns 7,707,619 shares of the oil and gas company’s stock worth $389,543,000 after buying an additional 5,216,764 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Marathon Petroleum Corporation by 8,254.8% in the first quarter. American Century Companies Inc. now owns 2,042,740 shares of the oil and gas company’s stock worth $103,240,000 after buying an additional 2,018,290 shares in the last quarter. FMR LLC raised its stake in shares of Marathon Petroleum Corporation by 109.5% in the first quarter. FMR LLC now owns 3,685,652 shares of the oil and gas company’s stock worth $186,273,000 after buying an additional 1,926,573 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Marathon Petroleum Corporation by 201.9% in the first quarter. Alliancebernstein L.P. now owns 2,758,794 shares of the oil and gas company’s stock worth $139,429,000 after buying an additional 1,844,941 shares in the last quarter. Institutional investors and hedge funds own 78.84% of the company’s stock.

Marathon Petroleum Corporation (NYSE:MPC) opened at 51.43 on Wednesday. The stock has a 50 day moving average price of $53.66 and a 200-day moving average price of $51.79. The firm has a market capitalization of $26.04 billion, a P/E ratio of 30.67 and a beta of 1.56. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81.

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 Zacks’ consensus estimate of $1.04 by $0.01. The company had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. Marathon Petroleum Corporation’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share. Analysts anticipate that Marathon Petroleum Corporation will post $2.74 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be paid a $0.40 dividend. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio is currently 90.91%.

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MPC has been the topic of several recent research reports. Zacks Investment Research downgraded Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. 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. Royal Bank Of Canada reaffirmed a “buy” rating and set a $69.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. Credit Suisse Group reaffirmed a “buy” rating and set a $64.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $62.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $59.30.

In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the company’s 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 sale was disclosed in a filing with the SEC, which is available through this link. 1.05% of the stock is owned by corporate insiders.

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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