Pitcairn Co. lowered its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 10,861 shares of the oil and gas company’s stock after selling 459 shares during the period. Pitcairn Co.’s holdings in Marathon Petroleum Corporation were worth $568,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Marathon Petroleum Corporation by 2,779.4% in the first quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock worth $2,836,372,000 after buying an additional 54,172,304 shares during the period. Iridian Asset Management LLC CT boosted its stake in shares of Marathon Petroleum Corporation by 209.4% in the first quarter. Iridian Asset Management LLC CT now owns 7,707,619 shares of the oil and gas company’s stock worth $389,543,000 after buying an additional 5,216,764 shares during the period. American Century Companies Inc. boosted its stake in shares of Marathon Petroleum Corporation by 8,254.8% in the first quarter. American Century Companies Inc. now owns 2,042,740 shares of the oil and gas company’s stock worth $103,240,000 after buying an additional 2,018,290 shares during the period. FMR LLC boosted its stake in shares of Marathon Petroleum Corporation by 109.5% in the first quarter. FMR LLC now owns 3,685,652 shares of the oil and gas company’s stock worth $186,273,000 after buying an additional 1,926,573 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Marathon Petroleum Corporation by 201.9% in the first quarter. Alliancebernstein L.P. now owns 2,758,794 shares of the oil and gas company’s stock worth $139,429,000 after buying an additional 1,844,941 shares during the period. Institutional investors and hedge funds own 81.36% of the company’s stock.

Marathon Petroleum Corporation (MPC) opened at 52.16 on Monday. The firm has a 50-day moving average price of $54.14 and a 200-day moving average price of $51.64. The firm has a market cap of $26.41 billion, a price-to-earnings ratio of 31.10 and a beta of 1.56. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81.

Marathon Petroleum Corporation (NYSE:MPC) last issued 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 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 the consensus estimate of $19.98 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts expect that Marathon Petroleum Corporation will post $2.74 earnings per share for the current fiscal year.

The firm also recently declared 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. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.60 annualized dividend and a dividend yield of 3.07%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is presently 81.82%.

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MPC has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $61.00 price target on shares of Marathon Petroleum Corporation in a research report on Wednesday, April 19th. Citigroup Inc. reiterated a “buy” rating and issued a $67.00 price target (down from $68.50) on shares of Marathon Petroleum Corporation in a research report on Saturday, April 22nd. Scotiabank reiterated a “hold” rating and issued a $54.00 price target on shares of Marathon Petroleum Corporation in a research report on Friday, April 28th. US Capital Advisors reiterated a “buy” rating on shares of Marathon Petroleum Corporation in a research report on Monday, May 22nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $62.00 price target on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus 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 on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP C. Michael Palmer sold 4,568 shares of Marathon Petroleum Corporation stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $52.04, for a total value of $237,718.72. Following the completion of the transaction, the vice president now 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 quarter, insiders sold 33,568 shares of company stock worth $1,808,969. Corporate 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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