Van ECK Associates Corp boosted its position in Marathon Petroleum Corporation (NYSE:MPC) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,256 shares of the oil and gas company’s stock after buying an additional 139 shares during the period. Van ECK Associates Corp’s holdings in Marathon Petroleum Corporation were worth $215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MPC. Boston Partners increased its position 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 during the period. Iridian Asset Management LLC CT increased its position 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 during the period. Norges Bank purchased a new position in shares of Marathon Petroleum Corporation during the fourth quarter worth about $280,303,000. Ameriprise Financial Inc. increased its position 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 during the period. Finally, AQR Capital Management LLC increased its position 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 during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Shares of Marathon Petroleum Corporation (MPC) opened at 51.33 on Tuesday. The company has a market cap of $26.63 billion, a price-to-earnings ratio of 22.63 and a beta of 1.67. The firm’s 50-day moving average is $52.68 and its 200-day moving average is $50.50. Marathon Petroleum Corporation has a 52 week low of $32.84 and a 52 week high of $55.20.

Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings data on Thursday, April 27th. The oil and gas company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.07. Marathon Petroleum Corporation had a return on equity of 5.68% and a net margin of 1.80%. The firm had revenue of $16.39 billion for the quarter, compared to analysts’ expectations of $19.03 billion. During the same period in the previous year, the firm earned $0.07 EPS. The business’s quarterly revenue was up 27.8% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum Corporation will post $2.91 earnings per share for the current year.

The business also recently disclosed 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 of this dividend was Monday, May 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.81%. Marathon Petroleum Corporation’s payout ratio is currently 63.44%.

COPYRIGHT VIOLATION NOTICE: “Van ECK Associates Corp Has $215,000 Position in Marathon Petroleum Corporation (MPC)” was originally published by Daily Political and is the property of of Daily Political. If you are viewing this news story on another site, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/06/27/van-eck-associates-corp-has-215000-position-in-marathon-petroleum-corporation-mpc.html.

A number of research analysts have recently issued reports on MPC shares. Jefferies Group LLC restated a “buy” rating and issued a $61.00 price target on shares of Marathon Petroleum Corporation in a research report on Wednesday, April 19th. US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a research report on Monday, May 22nd. Citigroup Inc. restated a “buy” rating and issued a $67.00 price target (down previously from $68.50) on shares of Marathon Petroleum Corporation in a research report on Saturday, April 22nd. Royal Bank Of Canada restated a “buy” rating and issued a $69.00 price target on shares of Marathon Petroleum Corporation in a research report on Thursday, June 1st. Finally, Scotiabank restated a “hold” rating and issued a $54.00 price target on shares of Marathon Petroleum Corporation in a research report on Friday, April 28th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company currently 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 dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP C. Michael Palmer sold 4,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total value of $213,000.00. Following the transaction, the vice president now directly owns 61,757 shares in the company, valued at $3,288,560.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,568 shares of company stock worth $1,808,969. Insiders own 1.05% of the company’s stock.

Marathon Petroleum Corporation Company 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.

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC).

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 MarketBeat.com's FREE daily email newsletter.