Northwestern Mutual Wealth Management Co. raised its position in Marathon Petroleum Corporation (NYSE:MPC) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,952 shares of the oil and gas company’s stock after acquiring an additional 1,236 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Marathon Petroleum Corporation were worth $1,201,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MPC. BlackRock Inc. lifted its stake in 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 valued at $2,836,372,000 after acquiring an additional 54,172,304 shares during the last quarter. Iridian Asset Management LLC CT raised its position 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 valued at $389,543,000 after purchasing an additional 5,216,764 shares during the period. Principal Financial Group Inc. raised its position in shares of Marathon Petroleum Corporation by 312.4% in the second quarter. Principal Financial Group Inc. now owns 3,947,936 shares of the oil and gas company’s stock valued at $206,595,000 after purchasing an additional 2,990,640 shares during the period. Alliancebernstein L.P. raised its position in shares of Marathon Petroleum Corporation by 93.3% in the second quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock valued at $278,998,000 after purchasing an additional 2,572,727 shares during the period. Finally, American Century Companies Inc. raised its position 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 valued at $103,240,000 after purchasing an additional 2,018,290 shares during the period. Hedge funds and other institutional investors own 78.85% of the company’s stock.

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In other news, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.05% of the company’s stock.

Shares of Marathon Petroleum Corporation (NYSE MPC) opened at 53.91 on Tuesday. The stock has a market cap of $27.29 billion, a price-to-earnings ratio of 32.15 and a beta of 1.56. The stock’s 50 day moving average price is $53.11 and its 200-day moving average price is $52.00. 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 released 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 the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. On average, equities research analysts forecast that Marathon Petroleum Corporation will post $2.90 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.98%. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is currently 90.91%.

A number of research firms recently commented on MPC. BidaskClub lowered shares of Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Scotiabank reiterated a “hold” rating and set a $55.00 price objective on shares of Marathon Petroleum Corporation in a research note on Friday, September 1st. Cowen and Company increased their price objective on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Finally, Zacks Investment Research downgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Marathon Petroleum Corporation has a consensus rating of “Buy” and a consensus price target of $59.16.

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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