First Capital Advisors Group LLC. lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 9.5% during the second quarter, Holdings Channel reports. The firm owned 12,804 shares of the oil and gas company’s stock after selling 1,340 shares during the period. First Capital Advisors Group LLC.’s holdings in Marathon Petroleum Corporation were worth $670,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MPC. Guardian Life Insurance Co. of America boosted its stake in Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 14 shares during the period. FTB Advisors Inc. boosted its stake in Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,697 shares during the period. Lee Financial Co boosted its stake in Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 48 shares during the period. Carroll Financial Associates Inc. boosted its stake 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 valued at $115,000 after buying an additional 250 shares during the period. Finally, Jacobi Capital Management LLC boosted its stake in Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 570 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 52.21 on Friday. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81. The company has a market cap of $26.43 billion, a price-to-earnings ratio of 31.13 and a beta of 1.56. The company’s 50 day moving average is $54.11 and its 200 day moving average is $51.62.

Marathon Petroleum Corporation (NYSE:MPC) last released 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 Zacks’ consensus estimate of $1.04 by $0.01. The business had revenue of $18.35 billion for the quarter, compared to analysts’ expectations of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. Marathon Petroleum Corporation’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 EPS. Analysts forecast that Marathon Petroleum Corporation will post $2.74 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.60 annualized dividend and a dividend yield of 3.06%. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio is currently 81.82%.

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Several research firms have recently weighed in on MPC. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday. Jefferies Group LLC restated a “buy” rating and set a $54.83 price objective (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Scotiabank set a $55.00 price objective on shares of Marathon Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, July 11th. Piper Jaffray Companies restated an “overweight” rating and set a $62.00 price objective on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. Finally, BidaskClub cut shares of Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $58.62.

In other news, insider Thomas M. Kelley sold 25,000 shares of the 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, VP C. Michael Palmer sold 4,568 shares of the stock in a transaction on Thursday, May 18th. The shares were 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 in the company, valued at approximately $3,243,393. The disclosure for this sale can be found here. In the last three months, insiders sold 33,568 shares of company stock worth $1,808,969. Insiders own 1.05% of the company’s stock.

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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