Boston Partners decreased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 38.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,129,275 shares of the oil and gas company’s stock after selling 5,669,545 shares during the period. Boston Partners’ holdings in Marathon Petroleum Corporation were worth $477,735,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Marathon Petroleum Corporation by 2,779.4% in the first quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock valued at $2,836,372,000 after buying an additional 54,172,304 shares during the period. Iridian Asset Management LLC CT increased its position in 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 valued at $389,543,000 after buying an additional 5,216,764 shares during the period. American Century Companies Inc. increased its position in Marathon Petroleum Corporation by 8,254.8% in the first quarter. American Century Companies Inc. now owns 2,042,740 shares of the oil and gas company’s stock valued at $103,240,000 after buying an additional 2,018,290 shares during the period. FMR LLC increased its position in Marathon Petroleum Corporation by 109.5% in the first quarter. FMR LLC now owns 3,685,652 shares of the oil and gas company’s stock valued at $186,273,000 after buying an additional 1,926,573 shares during the period. Finally, Alliancebernstein L.P. increased its position in Marathon Petroleum Corporation by 201.9% in the first quarter. Alliancebernstein L.P. now owns 2,758,794 shares of the oil and gas company’s stock valued at $139,429,000 after buying an additional 1,844,941 shares during the period. 81.58% of the stock is owned by institutional investors and hedge funds.

Shares of Marathon Petroleum Corporation (MPC) opened at 52.99 on Thursday. The company’s 50-day moving average price is $54.10 and its 200-day moving average price is $51.61. Marathon Petroleum Corporation has a 52-week low of $39.29 and a 52-week high of $56.81. The stock has a market cap of $26.81 billion, a PE ratio of 30.51 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last announced its 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 net margin of 1.34% and a return on equity of 5.52%. The company had revenue of $18.35 billion for the quarter, compared to analysts’ expectations of $19.98 billion. During the same period in the prior year, the company earned $1.07 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts expect that Marathon Petroleum Corporation will post $2.73 earnings per share for the current 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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.02%. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio is currently 81.82%.

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MPC has been the subject of several research reports. Citigroup Inc. reaffirmed a “buy” rating and set a $67.00 price target (down previously from $68.50) on shares of Marathon Petroleum Corporation in a research note on Saturday, April 22nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $69.00 price target on shares of Marathon Petroleum Corporation in a research note on Thursday, June 1st. Zacks Investment Research downgraded Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Scotiabank set a $55.00 price target on Marathon Petroleum Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 11th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $64.00 price target on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Marathon Petroleum Corporation has a consensus rating of “Buy” and an average target price of $58.62.

In other news, VP C. Michael Palmer sold 4,568 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $52.04, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,568 shares of company stock valued at $1,808,969. 1.05% of the stock is currently owned by company insiders.

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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