InterOcean Capital LLC lifted its position in Marathon Petroleum Corporation (NYSE:MPC) by 26.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,501 shares of the oil and gas company’s stock after purchasing an additional 4,880 shares during the period. InterOcean Capital LLC’s holdings in Marathon Petroleum Corporation were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in MPC. BlackRock Inc. increased 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 purchasing an additional 54,172,304 shares in the last quarter. Iridian Asset Management LLC CT increased 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 purchasing an additional 5,216,764 shares in the last quarter. Principal Financial Group Inc. increased its stake 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 worth $206,595,000 after purchasing an additional 2,990,640 shares in the last quarter. Alliancebernstein L.P. increased its stake 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 worth $278,998,000 after purchasing an additional 2,572,727 shares in the last quarter. Finally, FMR LLC increased 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 purchasing an additional 1,926,573 shares in the last quarter. 78.25% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on MPC. Zacks Investment Research raised shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub raised shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and issued a $54.83 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th. 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. Finally, Credit Suisse Group reissued a “buy” rating and issued a $64.00 price objective on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Marathon Petroleum Corporation presently has an average rating of “Buy” and a consensus target price of $59.67.

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Shares of Marathon Petroleum Corporation (MPC) traded up 0.335% during trading on Thursday, hitting $55.425. 1,144,006 shares of the company’s stock were exchanged. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81. The company has a market cap of $28.06 billion, a P/E ratio of 33.050 and a beta of 1.56. The company has a 50-day moving average of $52.72 and a 200-day moving average of $52.13.

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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.01). Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The business had revenue of $18.35 billion for the quarter, compared to analysts’ expectations of $19.98 billion. During the same period in the previous year, the company earned $1.07 EPS. Marathon Petroleum Corporation’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities analysts expect that Marathon Petroleum Corporation will post $2.95 earnings per share for the current fiscal year.

The firm 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 positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, August 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.90%. Marathon Petroleum Corporation’s dividend payout ratio is presently 90.91%.

In other news, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.05% of the stock is owned by corporate insiders.

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.

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

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