State of Wisconsin Investment Board increased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 23.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 683,348 shares of the oil and gas company’s stock after buying an additional 128,490 shares during the period. State of Wisconsin Investment Board’s holdings in Marathon Petroleum Corporation were worth $35,760,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MPC. Guardian Life Insurance Co. of America increased its stake in 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 worth $103,000 after buying an additional 14 shares in the last quarter. Accurate Investment Solutions Inc. increased its stake in Marathon Petroleum Corporation by 0.4% in the second quarter. Accurate Investment Solutions Inc. now owns 3,982 shares of the oil and gas company’s stock worth $208,000 after buying an additional 14 shares in the last quarter. Capital Investment Advisors LLC increased its stake in Marathon Petroleum Corporation by 0.3% in the second quarter. Capital Investment Advisors LLC now owns 6,420 shares of the oil and gas company’s stock worth $336,000 after buying an additional 19 shares in the last quarter. Tarbox Group Inc. increased its stake in Marathon Petroleum Corporation by 1.5% in the first quarter. Tarbox Group Inc. now owns 2,423 shares of the oil and gas company’s stock worth $122,000 after buying an additional 36 shares in the last quarter. Finally, Warren Averett Asset Management LLC increased its stake in Marathon Petroleum Corporation by 0.3% in the second quarter. Warren Averett Asset Management LLC now owns 12,353 shares of the oil and gas company’s stock worth $646,000 after buying an additional 40 shares in the last quarter. 81.36% of the stock is currently owned by institutional investors and hedge funds.

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

Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The firm 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 quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $1.07 EPS. On average, analysts expect that Marathon Petroleum Corporation will post $2.74 EPS for the current year.

The company also recently disclosed 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 a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, August 14th. This represents a $1.60 annualized dividend and a yield of 3.08%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 90.91%.

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A number of research firms recently issued reports on MPC. Cowen and Company lifted their target price on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Scotiabank set a $55.00 target price on Marathon Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, July 11th. BidaskClub raised Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research downgraded Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.83 target price (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Marathon Petroleum Corporation currently has a consensus rating of “Buy” and an average target price of $58.62.

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

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.

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

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