New Mexico Educational Retirement Board reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 9.9% during the second quarter, Holdings Channel reports. The firm owned 48,170 shares of the oil and gas company’s stock after selling 5,300 shares during the period. New Mexico Educational Retirement Board’s holdings in Marathon Petroleum Corporation were worth $2,697,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC raised its position in 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 worth $3,326,000 after buying an additional 5,892 shares during the period. Gulf International Bank UK Ltd raised its position in Marathon Petroleum Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 167,886 shares of the oil and gas company’s stock worth $8,484,000 after buying an additional 2,200 shares during the period. Carroll Financial Associates Inc. raised its position in Marathon Petroleum Corporation by 12.3% in the first quarter. Carroll Financial Associates Inc. now owns 2,287 shares of the oil and gas company’s stock worth $115,000 after buying an additional 250 shares during the period. Regentatlantic Capital LLC raised its position in Marathon Petroleum Corporation by 31.8% in the first quarter. Regentatlantic Capital LLC now owns 70,123 shares of the oil and gas company’s stock worth $3,544,000 after buying an additional 16,915 shares during the period. Finally, Capstone Asset Management Co. raised its position in Marathon Petroleum Corporation by 3.4% in the first quarter. Capstone Asset Management Co. now owns 59,155 shares of the oil and gas company’s stock worth $2,990,000 after buying an additional 1,960 shares during the period. Hedge funds and other institutional investors own 81.58% of the company’s stock.

Shares of Marathon Petroleum Corporation (NYSE MPC) opened at 52.99 on Thursday. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81. The company’s 50 day moving average is $54.10 and its 200-day moving average is $51.61. The company has a market capitalization of $26.81 billion, a P/E ratio of 30.51 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $19.98 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Marathon Petroleum Corporation will post $2.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 3.02%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is currently 81.82%.

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A number of equities analysts have commented 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. Citigroup Inc. restated a “buy” rating and issued a $67.00 price target (down from $68.50) on shares of Marathon Petroleum Corporation in a research report on Saturday, April 22nd. 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. US Capital Advisors reiterated a “buy” rating on shares of Marathon Petroleum Corporation in a research report on Monday, May 22nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $62.00 target price on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $58.62.

In related 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 SEC, which can be accessed through this link. Also, VP C. Michael Palmer sold 4,568 shares of Marathon Petroleum Corporation stock in a transaction that occurred 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 sale, the vice president now owns 62,325 shares in the company, valued at $3,243,393. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,568 shares of company stock worth $1,808,969. 1.05% of the stock is owned by corporate 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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