Gotham Asset Management LLC acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 72,941 shares of the oil and gas company’s stock, valued at approximately $3,817,000.

Several other hedge funds also recently bought and sold shares of MPC. BlackRock Inc. lifted its position in shares of Marathon Petroleum Corporation by 2,779.4% during the 1st quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock valued at $2,836,372,000 after buying an additional 54,172,304 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Marathon Petroleum Corporation by 312.4% during the 2nd 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 buying an additional 2,990,640 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Marathon Petroleum Corporation by 93.3% during the 2nd quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock valued at $278,998,000 after buying an additional 2,572,727 shares in the last quarter. FMR LLC lifted its position in shares of Marathon Petroleum Corporation by 109.5% during the 1st quarter. FMR LLC now owns 3,685,652 shares of the oil and gas company’s stock valued at $186,273,000 after buying an additional 1,926,573 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Marathon Petroleum Corporation by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 37,711,603 shares of the oil and gas company’s stock valued at $1,905,944,000 after buying an additional 1,549,473 shares in the last quarter. 78.25% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Corporation (NYSE MPC) opened at 56.55 on Friday. The stock’s 50 day moving average price is $54.20 and its 200 day moving average price is $52.77. Marathon Petroleum Corporation has a 52-week low of $40.01 and a 52-week high of $57.02. The company has a market cap of $28.63 billion, a P/E ratio of 33.72 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.01). The business 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%. Marathon Petroleum Corporation’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $1.07 EPS. Analysts expect that Marathon Petroleum Corporation will post $3.06 earnings per share for the current year.

In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is owned by company insiders.

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Several analysts recently issued reports on the company. Bank of America Corporation downgraded Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 5th. Wells Fargo & Company downgraded Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $65.00 to $56.00 in a research note on Tuesday, September 5th. Zacks Investment Research downgraded Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Scotiabank reissued a “hold” rating and set a $55.00 target price on shares of Marathon Petroleum Corporation in a research note on Friday, September 1st. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $71.00 target price on shares of Marathon Petroleum Corporation in a research note on Thursday, August 31st. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $60.33.

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.

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

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