Gabelli Funds LLC raised its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 473,600 shares of the oil and gas company’s stock after buying an additional 18,500 shares during the quarter. Gabelli Funds LLC owned about 0.11% of Marathon Petroleum worth $33,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in MPC. Advisors Preferred LLC purchased a new stake in Marathon Petroleum during the 1st quarter valued at approximately $101,000. Bruderman Asset Management LLC purchased a new stake in Marathon Petroleum during the 1st quarter valued at approximately $102,000. Bedel Financial Consulting Inc. purchased a new stake in Marathon Petroleum during the 1st quarter valued at approximately $106,000. Legacy Financial Advisors Inc. purchased a new stake in Marathon Petroleum during the 2nd quarter valued at approximately $113,000. Finally, Northwest Wealth Management LLC purchased a new stake in Marathon Petroleum during the 2nd quarter valued at approximately $116,000. 82.75% of the stock is owned by institutional investors and hedge funds.

NYSE MPC opened at $83.12 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.60 and a debt-to-equity ratio of 0.92. The firm has a market cap of $37.84 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.38 and a beta of 1.40. Marathon Petroleum Corp has a 52 week low of $50.52 and a 52 week high of $84.79.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.27 EPS for the quarter, topping the consensus estimate of $1.98 by $0.29. The company had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.14 billion. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. Marathon Petroleum’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 earnings per share. analysts predict that Marathon Petroleum Corp will post 5.11 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Thursday, August 16th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, August 15th. Marathon Petroleum’s payout ratio is 48.42%.

A number of equities research analysts have issued reports on MPC shares. Zacks Investment Research lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Mizuho started coverage on shares of Marathon Petroleum in a report on Wednesday, August 1st. They set a “buy” rating and a $95.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $87.00 price objective on shares of Marathon Petroleum in a report on Friday, July 27th. Wells Fargo & Co raised shares of Marathon Petroleum from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $83.27 to $80.00 in a report on Tuesday, May 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Marathon Petroleum currently has an average rating of “Buy” and an average price target of $85.94.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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

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