First Quadrant L P CA Increases Position in Marathon Petroleum Corporation (NYSE:MPC)

First Quadrant L P CA increased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 321.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 595,499 shares of the oil and gas company’s stock after buying an additional 454,297 shares during the period. Marathon Petroleum Corporation makes up approximately 0.6% of First Quadrant L P CA’s portfolio, making the stock its 24th largest position. First Quadrant L P CA owned about 0.11% of Marathon Petroleum Corporation worth $31,162,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Guardian Life Insurance Co. of America raised its position in shares of Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after buying an additional 14 shares in the last quarter. FTB Advisors Inc. raised its position in shares of Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,697 shares in the last quarter. Carroll Financial Associates Inc. raised its position in shares of Marathon Petroleum Corporation by 12.3% in the first quarter. Carroll Financial Associates Inc. now owns 2,287 shares of the oil and gas company’s stock worth $115,000 after buying an additional 250 shares in the last quarter. Jacobi Capital Management LLC raised its position in shares of Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after buying an additional 570 shares in the last quarter. Finally, Tarbox Group Inc. raised its position in shares of Marathon Petroleum Corporation by 1.5% in the first quarter. Tarbox Group Inc. now owns 2,423 shares of the oil and gas company’s stock worth $122,000 after buying an additional 36 shares in the last quarter. 81.36% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Corporation (MPC) traded up 0.82% during trading on Friday, hitting $50.11. The company had a trading volume of 3,661,324 shares. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81. The stock has a 50-day moving average of $54.03 and a 200 day moving average of $51.70. The company has a market capitalization of $25.37 billion, a price-to-earnings ratio of 29.88 and a beta of 1.56.

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 for the quarter, missing the 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 the consensus estimate of $19.98 billion. During the same quarter in the previous year, the company earned $1.07 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities analysts forecast that Marathon Petroleum Corporation will post $2.75 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 3.19%. Marathon Petroleum Corporation’s dividend payout ratio is presently 90.91%.

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A number of brokerages have recently commented on MPC. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.83 target price (down previously from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Scotiabank set a $55.00 target price on Marathon Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, July 11th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $62.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. Finally, BidaskClub lowered Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $58.62.

In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C. Michael Palmer sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total value of $213,000.00. Following the sale, the vice president now owns 61,757 shares of the company’s stock, valued at $3,288,560.25. The disclosure for this sale can be found here. 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.

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

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