People s United Financial Inc. lowered its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,999 shares of the oil and gas company’s stock after selling 81 shares during the period. People s United Financial Inc.’s holdings in Marathon Petroleum Corporation were worth $1,152,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Blue Chip Partners Inc. acquired a new stake in shares of Marathon Petroleum Corporation during the second quarter valued at about $100,000. Guardian Life Insurance Co. of America increased its stake in shares of 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 valued at $103,000 after buying an additional 14 shares during the period. Lee Financial Co increased its stake in shares of 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 valued at $107,000 after buying an additional 48 shares during the period. Jacobi Capital Management LLC increased its stake in shares of 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 valued at $116,000 after buying an additional 570 shares during the period. Finally, First Interstate Bank increased its stake in shares of Marathon Petroleum Corporation by 81.1% in the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after buying an additional 1,064 shares during the period. Institutional investors and hedge funds own 78.25% of the company’s stock.

MPC has been the subject of several recent research reports. Scotiabank restated a “hold” rating and issued a $55.00 price target on shares of Marathon Petroleum Corporation in a research report on Friday, September 1st. BidaskClub raised shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Jefferies Group LLC restated a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a report on Wednesday, September 6th. Credit Suisse Group reaffirmed a “buy” rating and set a $64.00 target price on shares of Marathon Petroleum Corporation in a research report on Friday, July 14th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $71.00 price target on shares of Marathon Petroleum Corporation in a research report on Thursday, August 31st. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $59.67.

In other news, VP C. Michael Palmer sold 11,450 shares of Marathon Petroleum Corporation stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.05% of the stock is currently owned by company insiders.

WARNING: “People s United Financial Inc. Trims Position in Marathon Petroleum Corporation (MPC)” was first published by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another site, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.watchlistnews.com/people-s-united-financial-inc-trims-position-in-marathon-petroleum-corporation-mpc/1605382.html.

Shares of Marathon Petroleum Corporation (NYSE:MPC) traded down 0.27% on Tuesday, hitting $55.74. 191,423 shares of the stock were exchanged. The company has a market cap of $28.22 billion, a PE ratio of 33.24 and a beta of 1.56. The company has a 50-day moving average price of $52.90 and a 200 day moving average price of $52.44. Marathon Petroleum Corporation has a 12 month low of $40.01 and a 12 month high of $56.81.

Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Corporation will post $2.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were paid a dividend of $0.40 per share. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.86%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is currently 90.91%.

Marathon Petroleum Corporation 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.

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

Receive News & Ratings for Marathon Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.