Retirement Systems of Alabama lowered its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 251,513 shares of the oil and gas company’s stock after selling 3,609 shares during the period. Retirement Systems of Alabama’s holdings in Marathon Petroleum Corporation were worth $13,162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ARP Americas LLC bought a new position in Marathon Petroleum Corporation during the second quarter worth approximately $1,177,000. Lowe Brockenbrough & Co. Inc. increased its position in Marathon Petroleum Corporation by 0.4% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 22,893 shares of the oil and gas company’s stock worth $1,198,000 after buying an additional 85 shares during the period. Stratos Wealth Partners LTD. increased its position in Marathon Petroleum Corporation by 15.6% in the second quarter. Stratos Wealth Partners LTD. now owns 12,546 shares of the oil and gas company’s stock worth $657,000 after buying an additional 1,693 shares during the period. Sei Investments Co. increased its position in Marathon Petroleum Corporation by 13.3% in the second quarter. Sei Investments Co. now owns 517,284 shares of the oil and gas company’s stock worth $27,069,000 after buying an additional 60,788 shares during the period. Finally, Hartford Financial Management Inc. increased its position in Marathon Petroleum Corporation by 0.5% in the second quarter. Hartford Financial Management Inc. now owns 39,026 shares of the oil and gas company’s stock worth $2,042,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 81.58% of the company’s stock.

Marathon Petroleum Corporation (NYSE:MPC) opened at 52.99 on Thursday. The firm has a 50 day moving average of $54.10 and a 200 day moving average of $51.61. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81. The firm has a market capitalization of $26.81 billion, a PE ratio of 30.51 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The company had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. Marathon Petroleum Corporation’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Equities analysts forecast that Marathon Petroleum Corporation will post $2.73 EPS 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 given 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 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Monday, August 14th. Marathon Petroleum Corporation’s payout ratio is presently 81.82%.

TRADEMARK VIOLATION WARNING: “Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Retirement Systems of Alabama” was originally published by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The correct version of this report can be read at https://www.dailypolitical.com/2017/08/10/marathon-petroleum-corporation-nysempc-shares-sold-by-retirement-systems-of-alabama.html.

A number of brokerages have weighed in on MPC. BidaskClub cut shares of Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday. Cowen and Company increased their target price on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and set a $54.83 target price (down from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Finally, Credit Suisse Group reissued a “buy” rating and set a $64.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. Three equities research 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 stock. The company presently has an average rating of “Buy” and an average target price of $58.62.

In other news, insider Thomas M. Kelley sold 25,000 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP C. Michael Palmer sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total value of $213,000.00. Following the transaction, the vice president now owns 61,757 shares of the company’s stock, valued at $3,288,560.25. The disclosure for this sale can be found here. Insiders have sold a total of 33,568 shares of company stock valued at $1,808,969 over the last 90 days. Corporate 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.

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.