Northwestern Mutual Investment Management Company LLC trimmed its position in Marathon Petroleum Corporation (NYSE:MPC) by 81.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 20,213 shares of the oil and gas company’s stock after selling 86,475 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Marathon Petroleum Corporation were worth $767,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Marathon Petroleum Corporation by 2,779.4% in the 1st quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock valued at $2,836,372,000 after acquiring an additional 54,172,304 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Marathon Petroleum Corporation by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 37,711,603 shares of the oil and gas company’s stock valued at $1,905,944,000 after acquiring an additional 1,549,473 shares during the last quarter. State Street Corp lifted its stake in shares of Marathon Petroleum Corporation by 0.4% in the 1st quarter. State Street Corp now owns 28,029,983 shares of the oil and gas company’s stock valued at $1,416,636,000 after acquiring an additional 107,894 shares during the last quarter. Boston Partners lifted its stake in shares of Marathon Petroleum Corporation by 1.8% in the 1st quarter. Boston Partners now owns 14,798,820 shares of the oil and gas company’s stock valued at $747,933,000 after acquiring an additional 267,469 shares during the last quarter. Finally, Kensico Capital Management Corp lifted its stake in shares of Marathon Petroleum Corporation by 7.7% in the 1st quarter. Kensico Capital Management Corp now owns 9,260,000 shares of the oil and gas company’s stock valued at $468,000,000 after acquiring an additional 660,000 shares during the last quarter. Institutional investors own 78.85% of the company’s stock.

A number of research firms recently weighed in on MPC. Cowen and Company increased their price objective on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Scotiabank set a $55.00 price objective on Marathon Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, July 11th. BidaskClub upgraded Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research downgraded Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $62.00 price objective on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $59.16.

In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the business’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 legal filing with the SEC, which is available at this hyperlink. 1.05% of the stock is currently owned by insiders.

Shares of Marathon Petroleum Corporation (NYSE:MPC) opened at 53.42 on Friday. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81. The firm’s 50-day moving average price is $53.18 and its 200-day moving average price is $51.96. The firm has a market capitalization of $27.04 billion, a P/E ratio of 31.85 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $19.98 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. Marathon Petroleum Corporation’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts forecast that Marathon Petroleum Corporation will post $2.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be given a $0.40 dividend. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, August 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. Marathon Petroleum Corporation’s payout ratio is presently 90.91%.

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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.

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

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