Palladium Partners LLC lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 93,228 shares of the oil and gas company’s stock after selling 1,770 shares during the period. Palladium Partners LLC’s holdings in Marathon Petroleum Corporation were worth $4,879,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MPC. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Marathon Petroleum Corporation by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 460,873 shares of the oil and gas company’s stock valued at $23,293,000 after buying an additional 13,175 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in shares of Marathon Petroleum Corporation by 9.8% in the first quarter. Manning & Napier Advisors LLC now owns 65,839 shares of the oil and gas company’s stock valued at $3,326,000 after buying an additional 5,892 shares during the last quarter. New England Research & Management Inc. purchased a new stake in shares of Marathon Petroleum Corporation during the first quarter valued at $524,000. Weaver C. Barksdale & Associates Inc. boosted its stake in shares of Marathon Petroleum Corporation by 442.6% in the first quarter. Weaver C. Barksdale & Associates Inc. now owns 9,728 shares of the oil and gas company’s stock valued at $492,000 after buying an additional 7,935 shares during the last quarter. Finally, Chesley Taft & Associates LLC boosted its stake in shares of Marathon Petroleum Corporation by 439.2% in the first quarter. Chesley Taft & Associates LLC now owns 122,192 shares of the oil and gas company’s stock valued at $6,176,000 after buying an additional 99,530 shares during the last quarter. 79.66% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Corporation (NYSE MPC) opened at 55.79 on Friday. The company has a 50 day moving average of $53.87 and a 200 day moving average of $51.38. Marathon Petroleum Corporation has a 52 week low of $38.37 and a 52 week high of $56.81. The company has a market capitalization of $28.23 billion, a price-to-earnings ratio of 32.12 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by $0.01. The company had revenue of $18.35 billion for 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 5.49%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share. On average, equities analysts forecast that Marathon Petroleum Corporation will post $2.73 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.40 per share. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Monday, August 14th. Marathon Petroleum Corporation’s payout ratio is currently 81.82%.

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MPC has been the subject of several analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $61.00 price target on shares of Marathon Petroleum Corporation in a research report on Wednesday, April 19th. Citigroup Inc. reissued a “buy” rating and set a $67.00 price target (down previously from $68.50) on shares of Marathon Petroleum Corporation in a research report on Saturday, April 22nd. Scotiabank reissued a “hold” rating and set a $54.00 price target on shares of Marathon Petroleum Corporation in a research report on Friday, April 28th. US Capital Advisors reissued a “buy” rating on shares of Marathon Petroleum Corporation in a research report on Monday, May 22nd. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $62.00 price target on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $58.62.

In related news, VP C. Michael Palmer sold 4,568 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $52.04, for a total value of $237,718.72. Following the completion of the sale, the vice president now directly owns 62,325 shares of the company’s stock, valued at $3,243,393. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas M. Kelley sold 25,000 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold 33,568 shares of company stock valued at $1,808,969 over the last three months. 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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