Veritable L.P. boosted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,696 shares of the oil and gas company’s stock after purchasing an additional 957 shares during the quarter. Veritable L.P.’s holdings in Marathon Petroleum Corporation were worth $4,327,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blue Chip Partners Inc. purchased a new stake in Marathon Petroleum Corporation in the 2nd quarter worth $100,000. Guardian Life Insurance Co. of America lifted its stake in Marathon Petroleum Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 14 shares in the last quarter. Lee Financial Co lifted its stake in Marathon Petroleum Corporation by 2.4% in the 2nd quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 48 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in Marathon Petroleum Corporation by 32.2% in the 1st quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after purchasing an additional 570 shares in the last quarter. Finally, First Interstate Bank lifted its stake in Marathon Petroleum Corporation by 81.1% in the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock worth $124,000 after purchasing an additional 1,064 shares in the last quarter. Institutional investors and hedge funds own 78.25% of the company’s stock.

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In other news, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.05% of the company’s stock.

Marathon Petroleum Corporation (NYSE:MPC) last issued 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 for the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share.

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were issued a dividend of $0.40 per share. 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 2.92%. The ex-dividend date of this dividend was Monday, August 14th. Marathon Petroleum Corporation’s payout ratio is currently 90.91%.

Several analysts have commented on MPC shares. Jefferies Group LLC reiterated a “buy” rating and issued a $54.83 price target (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th. BidaskClub upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Credit Suisse Group restated a “buy” rating and set a $64.00 target price on shares of Marathon Petroleum Corporation in a research report on Friday, July 14th. Royal Bank Of Canada restated a “buy” rating and set a $69.00 target price on shares of Marathon Petroleum Corporation in a research report on Thursday, June 1st. Finally, ValuEngine upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Marathon Petroleum Corporation has a consensus rating of “Buy” and an average target price of $59.67.

Marathon Petroleum Corporation 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.

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

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