Municipal Employees Retirement System of Michigan raised its position in Marathon Petroleum Corporation (NYSE:MPC) by 4.8% during the second quarter, Holdings Channel reports. The institutional investor owned 22,230 shares of the oil and gas company’s stock after buying an additional 1,020 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Marathon Petroleum Corporation were worth $1,163,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cullinan Associates Inc. raised its position in shares of 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 worth $6,561,000 after buying an additional 1,182 shares in the last quarter. Blockhouse Capital Management LP acquired a new position in shares of Marathon Petroleum Corporation during the first quarter worth $14,970,000. Hartford Investment Management Co. raised its position in shares of Marathon Petroleum Corporation by 13.2% in the first quarter. Hartford Investment Management Co. now owns 147,217 shares of the oil and gas company’s stock worth $7,440,000 after buying an additional 17,182 shares in the last quarter. Buckingham Asset Management LLC raised its position in shares of Marathon Petroleum Corporation by 2.1% in the first quarter. Buckingham Asset Management LLC now owns 4,141 shares of the oil and gas company’s stock worth $209,000 after buying an additional 87 shares in the last quarter. Finally, Bank of The West raised its position in shares of Marathon Petroleum Corporation by 28.4% in the first quarter. Bank of The West now owns 49,717 shares of the oil and gas company’s stock worth $2,512,000 after buying an additional 10,990 shares in the last quarter. 81.58% of the stock is currently owned by hedge funds and other institutional investors.

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

Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (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 firm had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. During the same quarter last year, the business posted $1.07 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Corporation will post $2.73 earnings per share for the current fiscal year.

The company 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. The ex-dividend date of this dividend is Monday, August 14th. This is a boost 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%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 81.82%.

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A number of research analysts recently weighed in on MPC shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $61.00 price objective on shares of Marathon Petroleum Corporation in a report on Wednesday, April 19th. Scotiabank reaffirmed a “hold” rating and set a $54.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, April 28th. Credit Suisse Group reaffirmed a “buy” rating and set a $64.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. BidaskClub raised Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $69.00 price objective on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $58.62.

In other news, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction on Wednesday, June 14th. The stock was 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 SEC, which can be accessed through the SEC website. Also, VP C. Michael Palmer sold 4,568 shares of Marathon Petroleum Corporation stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $52.04, for a total value of $237,718.72. Following the transaction, 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 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.

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

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