Sumitomo Life Insurance Co. boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 97.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,994 shares of the oil and gas company’s stock after acquiring an additional 27,655 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Marathon Petroleum Corporation were worth $3,140,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. OMERS ADMINISTRATION Corp grew its stake in shares of Marathon Petroleum Corporation by 341.7% in the second quarter. OMERS ADMINISTRATION Corp now owns 53,000 shares of the oil and gas company’s stock valued at $2,773,000 after buying an additional 41,000 shares in the last quarter. Wilen Investment Management CORP. grew its stake in shares of Marathon Petroleum Corporation by 31.3% in the second quarter. Wilen Investment Management CORP. now owns 38,148 shares of the oil and gas company’s stock valued at $1,984,000 after buying an additional 9,100 shares in the last quarter. Commonwealth Bank of Australia grew its stake in shares of Marathon Petroleum Corporation by 1.8% in the second quarter. Commonwealth Bank of Australia now owns 174,826 shares of the oil and gas company’s stock valued at $9,147,000 after buying an additional 3,097 shares in the last quarter. Fox Run Management L.L.C. grew its stake in shares of Marathon Petroleum Corporation by 143.6% in the second quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock valued at $1,402,000 after buying an additional 15,800 shares in the last quarter. Finally, Heritage Way Advisors LLC grew its stake in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock valued at $1,935,000 after buying an additional 850 shares in the last quarter. 78.24% of the stock is owned by institutional investors.

Shares of Marathon Petroleum Corporation (MPC) traded down 0.600% during trading on Monday, reaching $57.145. The company had a trading volume of 431,526 shares. The stock has a market capitalization of $28.93 billion, a price-to-earnings ratio of 34.076 and a beta of 1.56. Marathon Petroleum Corporation has a 52-week low of $40.01 and a 52-week high of $57.74. The stock has a 50 day moving average of $55.01 and a 200 day moving average of $53.07.

Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly 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). Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The firm had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same quarter in the previous year, the business posted $1.07 EPS. Marathon Petroleum Corporation’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Marathon Petroleum Corporation will post $3.27 EPS for the current year.

A number of research analysts recently issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $54.83 target price (down from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. BidaskClub upgraded Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Credit Suisse Group reiterated a “buy” rating and issued a $64.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. Royal Bank Of Canada reiterated a “buy” rating and issued a $71.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, August 31st. Finally, ValuEngine upgraded Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Seven 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. The stock presently has a consensus rating of “Buy” and a consensus target price of $60.63.

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In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.05% of the stock is currently owned by company 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.

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

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