CIBC Asset Management Inc boosted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 49,084 shares of the oil and gas company’s stock after buying an additional 138 shares during the period. CIBC Asset Management Inc’s holdings in Marathon Petroleum Corporation were worth $2,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Investment Advisors LLC boosted its position in Marathon Petroleum Corporation by 0.4% in the first quarter. Capital Investment Advisors LLC now owns 6,401 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 24 shares during the period. CGOV Asset Management boosted its position in Marathon Petroleum Corporation by 30.0% in the first quarter. CGOV Asset Management now owns 13,000 shares of the oil and gas company’s stock valued at $875,000 after buying an additional 3,000 shares during the period. Pinnacle Bank purchased a new position in Marathon Petroleum Corporation during the first quarter valued at approximately $124,000. Cullinan Associates Inc. boosted its position in Marathon Petroleum Corporation by 0.9% in the first quarter. Cullinan Associates Inc. now owns 129,810 shares of the oil and gas company’s stock valued at $6,561,000 after buying an additional 1,182 shares during the period. Finally, Tompkins Financial Corp boosted its position in Marathon Petroleum Corporation by 413.6% in the first quarter. Tompkins Financial Corp now owns 3,595 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 2,895 shares during the period. Hedge funds and other institutional investors own 81.58% of the company’s stock.

Shares of Marathon Petroleum Corporation (MPC) opened at 55.79 on Monday. The firm has a market capitalization of $28.23 billion, a price-to-earnings ratio of 32.12 and a beta of 1.56. The company’s 50-day moving average is $53.87 and its 200 day moving average is $51.38. Marathon Petroleum Corporation has a 1-year low of $38.37 and a 1-year high of $56.81.

Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The business had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that Marathon Petroleum Corporation will post $2.73 EPS for the current fiscal year.

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

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MPC has been the subject of several recent analyst reports. BidaskClub upgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Cowen and Company increased their price objective on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $54.83 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Finally, Scotiabank set a $55.00 price objective on shares of Marathon Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $58.62.

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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP C. Michael Palmer sold 4,000 shares of Marathon Petroleum Corporation stock in a transaction that occurred on Wednesday, May 24th. The stock was 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 approximately $3,288,560.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,568 shares of company stock valued at $1,808,969. 1.05% of the stock is owned by corporate insiders.

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.

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

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