IFP Advisors Inc cut its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,149 shares of the oil and gas company’s stock after selling 353 shares during the period. IFP Advisors Inc’s holdings in Marathon Petroleum Corporation were worth $740,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wendell David Associates Inc. raised its position in Marathon Petroleum Corporation by 5.2% in the first quarter. Wendell David Associates Inc. now owns 36,638 shares of the oil and gas company’s stock worth $1,852,000 after buying an additional 1,800 shares during the last quarter. Hengehold Capital Management LLC raised its position in Marathon Petroleum Corporation by 12.2% in the first quarter. Hengehold Capital Management LLC now owns 36,403 shares of the oil and gas company’s stock worth $1,840,000 after buying an additional 3,952 shares during the last quarter. Boys Arnold & Co. Inc. raised its position in Marathon Petroleum Corporation by 1.6% in the first quarter. Boys Arnold & Co. Inc. now owns 15,972 shares of the oil and gas company’s stock worth $807,000 after buying an additional 248 shares during the last quarter. Hartford Investment Management Co. raised its position in 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 during the last quarter. Finally, Bank of The West raised its position in 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 during the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.

Marathon Petroleum Corporation (MPC) opened at 52.21 on Friday. The stock’s 50 day moving average is $54.11 and its 200-day moving average is $51.62. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81. The company has a market capitalization of $26.43 billion, a P/E ratio of 31.13 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same quarter last year, the company posted $1.07 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Corporation will post $2.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be paid a $0.40 dividend. 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 dividend yield of 3.06%. Marathon Petroleum Corporation’s dividend payout ratio is 81.82%.

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A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday. Cowen and Company raised their price target on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and issued a $54.83 price target (down from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Finally, Scotiabank set a $55.00 price target on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Marathon Petroleum Corporation presently has a consensus rating of “Buy” and a consensus target price of $58.62.

In related news, insider Thomas M. Kelley sold 25,000 shares of the company’s 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 filing with the SEC, which is available through the SEC website. Also, VP C. Michael Palmer sold 4,568 shares of the company’s stock in a transaction dated 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 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. Insiders sold 33,568 shares of company stock worth $1,808,969 over the last 90 days. 1.05% of the stock is currently 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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