Choate Investment Advisors cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,610 shares of the oil and gas company’s stock after selling 15 shares during the period. Choate Investment Advisors’ holdings in Marathon Petroleum Corporation were worth $555,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Blue Chip Partners Inc. bought a new position in Marathon Petroleum Corporation during the second quarter worth about $100,000. Guardian Life Insurance Co. of America lifted its holdings in Marathon Petroleum Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after acquiring an additional 14 shares in the last quarter. Lee Financial Co lifted its holdings in Marathon Petroleum Corporation by 2.4% during the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after acquiring an additional 48 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in Marathon Petroleum Corporation by 32.2% during the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 570 shares in the last quarter. Finally, First Interstate Bank lifted its holdings in Marathon Petroleum Corporation by 81.1% during the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock worth $124,000 after acquiring an additional 1,064 shares in the last quarter. Hedge funds and other institutional investors own 78.85% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Marathon Petroleum Corporation (MPC) Holdings Trimmed by Choate Investment Advisors” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was copied illegally and republished in violation of international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/09/17/marathon-petroleum-corporation-mpc-holdings-trimmed-by-choate-investment-advisors.html.

Marathon Petroleum Corporation (NYSE:MPC) traded up 1.18% during mid-day trading on Friday, hitting $52.96. The company had a trading volume of 9,062,782 shares. The company’s 50 day moving average price is $52.82 and its 200-day moving average price is $52.06. The firm has a market capitalization of $26.81 billion, a PE ratio of 31.58 and a beta of 1.56. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81.

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 the Zacks’ 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 return on equity of 5.52% and a net margin of 1.34%. Marathon Petroleum Corporation’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $1.07 EPS. On average, analysts forecast that Marathon Petroleum Corporation will post $2.90 EPS for the current fiscal year.

The business also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio is 90.91%.

Several research analysts have weighed in on MPC shares. BidaskClub lowered Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Scotiabank reiterated a “hold” rating and set a $55.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, September 1st. Cowen and Company lifted their target price on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. US Capital Advisors reiterated a “buy” rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. Finally, Zacks Investment Research lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently 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)

Receive News & Stock Ratings for Marathon Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum Corporation and related stocks with our FREE daily email newsletter.