UBS Asset Management Americas Inc. cut its stake in Marathon Petroleum Corp. (NYSE:MPC) by 3.8% during the third quarter, Holdings Channel reports. The firm owned 1,694,436 shares of the company’s stock after selling 67,177 shares during the period. UBS Asset Management Americas Inc.’s holdings in Marathon Petroleum Corp. were worth $68,777,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MPC. Adell Harriman & Carpenter Inc. boosted its position in shares of Marathon Petroleum Corp. by 5.2% in the third quarter. Adell Harriman & Carpenter Inc. now owns 54,151 shares of the company’s stock valued at $2,198,000 after buying an additional 2,700 shares during the period. Ingalls & Snyder LLC boosted its stake in Marathon Petroleum Corp. by 0.5% in the third quarter. Ingalls & Snyder LLC now owns 48,252 shares of the company’s stock worth $1,959,000 after buying an additional 240 shares during the last quarter. Commerce Bank boosted its stake in Marathon Petroleum Corp. by 14.1% in the third quarter. Commerce Bank now owns 50,627 shares of the company’s stock worth $2,055,000 after buying an additional 6,257 shares during the last quarter. Toronto Dominion Bank boosted its stake in Marathon Petroleum Corp. by 181.5% in the third quarter. Toronto Dominion Bank now owns 19,452 shares of the company’s stock worth $791,000 after buying an additional 12,543 shares during the last quarter. Finally, Amica Pension Fund Board of Trustees boosted its stake in Marathon Petroleum Corp. by 42.3% in the third quarter. Amica Pension Fund Board of Trustees now owns 28,516 shares of the company’s stock worth $1,157,000 after buying an additional 8,482 shares during the last quarter. Hedge funds and other institutional investors own 77.68% of the company’s stock.

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

Shares of Marathon Petroleum Corp. (NYSE:MPC) opened at 47.02 on Thursday. The company has a 50 day moving average price of $43.48 and a 200 day moving average price of $40.10. The company has a market capitalization of $24.82 billion, a P/E ratio of 22.14 and a beta of 1.80. Marathon Petroleum Corp. has a 12-month low of $29.24 and a 12-month high of $59.99.

Marathon Petroleum Corp. (NYSE:MPC) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.23. Marathon Petroleum Corp. had a net margin of 1.84% and a return on equity of 6.74%. The firm earned $16.46 billion during the quarter, compared to analyst estimates of $17.18 billion. During the same period in the prior year, the company posted $1.76 earnings per share. The firm’s revenue for the quarter was down 11.2% compared to the same quarter last year. Equities analysts anticipate that Marathon Petroleum Corp. will post $2.05 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Wednesday, November 16th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Monday, November 14th. Marathon Petroleum Corp.’s dividend payout ratio is currently 67.61%.

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A number of equities research analysts have commented on MPC shares. Piper Jaffray Cos. raised their target price on shares of Marathon Petroleum Corp. from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, August 22nd. Vetr cut shares of Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $46.33 target price on the stock. in a research note on Monday, August 8th. Jefferies Group started coverage on shares of Marathon Petroleum Corp. in a research note on Tuesday, August 23rd. They set a “buy” rating and a $48.00 target price on the stock. Zacks Investment Research upgraded shares of Marathon Petroleum Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 16th. Finally, Raymond James Financial Inc. upgraded shares of Marathon Petroleum Corp. from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $47.00 to $54.00 in a research report on Monday, October 31st. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $52.30.

Marathon Petroleum Corp. Company Profile

Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.

5 Day Chart for NYSE:MPC

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