Raymond James Financial Services Advisors Inc. increased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 12.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 884,412 shares of the oil and gas company’s stock after buying an additional 97,255 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.17% of Marathon Petroleum Corporation worth $46,281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp increased its holdings in Marathon Petroleum Corporation by 341.7% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 53,000 shares of the oil and gas company’s stock worth $2,773,000 after buying an additional 41,000 shares in the last quarter. Wilen Investment Management CORP. increased its holdings in Marathon Petroleum Corporation by 31.3% in the 2nd quarter. Wilen Investment Management CORP. now owns 38,148 shares of the oil and gas company’s stock worth $1,984,000 after buying an additional 9,100 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in Marathon Petroleum Corporation by 1.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 174,826 shares of the oil and gas company’s stock worth $9,147,000 after buying an additional 3,097 shares in the last quarter. Fox Run Management L.L.C. increased its holdings in Marathon Petroleum Corporation by 143.6% in the 2nd quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock worth $1,402,000 after buying an additional 15,800 shares in the last quarter. Finally, Heritage Way Advisors LLC increased its holdings in Marathon Petroleum Corporation by 2.4% in the 2nd quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock worth $1,935,000 after buying an additional 850 shares in the last quarter. Institutional investors own 78.25% of the company’s stock.

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Marathon Petroleum Corporation (NYSE:MPC) traded up 0.32% on Monday, hitting $56.20. The stock had a trading volume of 1,266,198 shares. Marathon Petroleum Corporation has a 12 month low of $40.01 and a 12 month high of $56.90. The stock has a market cap of $28.45 billion, a P/E ratio of 33.51 and a beta of 1.56. The company’s 50 day moving average is $53.46 and its 200-day moving average is $52.57.

Marathon Petroleum Corporation (NYSE:MPC) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the 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 firm’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $1.07 earnings per share. Analysts forecast that Marathon Petroleum Corporation will post $2.99 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Wednesday, August 16th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.86%. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 90.91%.

In related news, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was 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 SEC, which can be accessed through the SEC website. 1.05% of the stock is owned by company insiders.

MPC has been the subject of a number of recent research reports. BidaskClub downgraded Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Scotiabank set a $55.00 price target on Marathon Petroleum Corporation and gave the company a “hold” rating in a research note on Tuesday, July 11th. Credit Suisse Group restated a “buy” rating and set a $64.00 price target on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Zacks Investment Research downgraded Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Jefferies Group LLC restated a “buy” rating and set a $54.83 price target (down from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th. Seven research 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’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.27.

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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