Dai Ichi Life Insurance Company Ltd decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 61.5% during the first quarter, Holdings Channel reports. The institutional investor owned 39,929 shares of the oil and gas company’s stock after selling 63,689 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Marathon Petroleum Corporation were worth $2,018,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Boston Partners boosted its stake in shares of Marathon Petroleum Corporation by 1.8% in the first quarter. Boston Partners now owns 14,798,820 shares of the oil and gas company’s stock worth $747,933,000 after buying an additional 267,469 shares in the last quarter. Iridian Asset Management LLC CT boosted 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. Norges Bank purchased a new stake in shares of Marathon Petroleum Corporation during the fourth quarter worth approximately $280,303,000. Ameriprise Financial Inc. boosted its stake in shares of Marathon Petroleum Corporation by 0.6% in the first quarter. Ameriprise Financial Inc. now owns 3,244,031 shares of the oil and gas company’s stock worth $163,953,000 after buying an additional 18,842 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Marathon Petroleum Corporation by 6.3% in the fourth quarter. AQR Capital Management LLC now owns 3,200,621 shares of the oil and gas company’s stock worth $161,152,000 after buying an additional 190,698 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

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

Marathon Petroleum Corporation (MPC) opened at 54.29 on Tuesday. Marathon Petroleum Corporation has a 12-month low of $32.84 and a 12-month high of $55.20. The firm has a market cap of $28.16 billion, a PE ratio of 23.94 and a beta of 1.67. The company has a 50-day moving average price of $52.63 and a 200-day moving average price of $50.46.

Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings results on Thursday, April 27th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.07. Marathon Petroleum Corporation had a net margin of 1.80% and a return on equity of 5.68%. The company had revenue of $16.39 billion during the quarter, compared to the consensus estimate of $19.03 billion. During the same period last year, the firm earned $0.07 EPS. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Corporation will post $2.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Wednesday, May 17th were given a dividend of $0.36 per share. The ex-dividend date was Monday, May 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.65%. Marathon Petroleum Corporation’s payout ratio is 63.44%.

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Several equities analysts have recently issued reports on MPC shares. Jefferies Group LLC reissued a “buy” rating and issued a $61.00 price objective on shares of Marathon Petroleum Corporation in a report on Wednesday, April 19th. US Capital Advisors reissued a “buy” rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. Citigroup Inc. reissued a “buy” rating and issued a $67.00 price objective (down previously from $68.50) on shares of Marathon Petroleum Corporation in a report on Saturday, April 22nd. Royal Bank Of Canada reissued a “buy” rating and issued a $69.00 price objective on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. Finally, Scotiabank reissued a “hold” rating and issued a $54.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, April 28th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Marathon Petroleum Corporation has a consensus rating of “Buy” and an average price target of $58.50.

In other news, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C. Michael Palmer sold 4,000 shares of Marathon Petroleum Corporation stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total transaction of $213,000.00. Following the sale, the vice president now owns 61,757 shares of the company’s stock, valued at $3,288,560.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,568 shares of company stock valued at $1,808,969. 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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