Stoneridge Investment Partners LLC boosted its position in Marathon Petroleum Corporation (NYSE:MPC) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,351 shares of the oil and gas company’s stock after buying an additional 30 shares during the period. Stoneridge Investment Partners LLC’s holdings in Marathon Petroleum Corporation were worth $2,478,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Cigna Investments Inc. New increased its position in shares of Marathon Petroleum Corporation by 21.6% in the second quarter. Cigna Investments Inc. New now owns 26,370 shares of the oil and gas company’s stock worth $1,380,000 after buying an additional 4,677 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Marathon Petroleum Corporation by 47.5% in the second quarter. Global X Management Co. LLC now owns 6,782 shares of the oil and gas company’s stock worth $355,000 after buying an additional 2,183 shares during the last quarter. HL Financial Services LLC increased its position in shares of Marathon Petroleum Corporation by 8.1% in the second quarter. HL Financial Services LLC now owns 20,498 shares of the oil and gas company’s stock worth $1,073,000 after buying an additional 1,542 shares during the last quarter. Greatmark Investment Partners Inc. increased its position in shares of Marathon Petroleum Corporation by 10.0% in the second quarter. Greatmark Investment Partners Inc. now owns 8,910 shares of the oil and gas company’s stock worth $466,000 after buying an additional 810 shares during the last quarter. Finally, Seven Bridges Advisors LLC increased its position in shares of Marathon Petroleum Corporation by 8.7% in the second quarter. Seven Bridges Advisors LLC now owns 22,958 shares of the oil and gas company’s stock worth $1,201,000 after buying an additional 1,832 shares during the last quarter. 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 1-year low of $39.29 and a 1-year high of $56.81. The firm has a market cap of $26.81 billion, a P/E ratio of 30.51 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last released its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The company had revenue of $18.35 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 EPS. On average, analysts predict 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 $0.40 dividend. The ex-dividend date is Monday, August 14th. 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. Marathon Petroleum Corporation’s payout ratio is presently 81.82%.

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A number of equities analysts recently commented on the stock. BidaskClub downgraded shares of Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Monday. Cowen and Company boosted their target price on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and set a $54.83 target price (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $64.00 target price on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Marathon Petroleum Corporation 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 dated Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP C. Michael Palmer sold 4,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total transaction of $213,000.00. Following the completion of the transaction, the vice president now directly 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 sold a total of 33,568 shares of company stock valued at $1,808,969 in the last three months. 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.

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

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