Marathon Petroleum Corporation (NYSE:MPC) Stake Decreased by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A decreased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,757 shares of the oil and gas company’s stock after selling 200 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Marathon Petroleum Corporation were worth $354,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its stake in Marathon Petroleum Corporation by 38.7% in the fourth quarter. Teachers Advisors LLC now owns 1,203,514 shares of the oil and gas company’s stock valued at $60,597,000 after buying an additional 335,580 shares during the last quarter. Foundry Partners LLC boosted its position in shares of Marathon Petroleum Corporation by 14.3% in the first quarter. Foundry Partners LLC now owns 251,346 shares of the oil and gas company’s stock valued at $12,703,000 after buying an additional 31,440 shares in the last quarter. Private Asset Management Inc. boosted its position in shares of Marathon Petroleum Corporation by 54.1% in the first quarter. Private Asset Management Inc. now owns 6,916 shares of the oil and gas company’s stock valued at $350,000 after buying an additional 2,428 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Marathon Petroleum Corporation by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 460,873 shares of the oil and gas company’s stock valued at $23,293,000 after buying an additional 13,175 shares in the last quarter. Finally, Manning & Napier Advisors LLC boosted its position in shares of Marathon Petroleum Corporation by 9.8% in the first quarter. Manning & Napier Advisors LLC now owns 65,839 shares of the oil and gas company’s stock valued at $3,326,000 after buying an additional 5,892 shares in the last quarter. 81.36% of the stock is owned by institutional investors and hedge funds.

Shares of Marathon Petroleum Corporation (NYSE MPC) opened at 50.11 on Friday. The company has a market cap of $25.37 billion, a price-to-earnings ratio of 29.88 and a beta of 1.56. Marathon Petroleum Corporation has a 12 month low of $39.29 and a 12 month high of $56.81. The company’s 50-day moving average price is $54.03 and its 200-day moving average price is $51.70.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the Zacks’ 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 for the quarter, compared to analysts’ expectations of $19.98 billion. During the same quarter in the previous year, the business earned $1.07 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts anticipate that Marathon Petroleum Corporation will post $2.75 EPS for the current year.

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

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Several brokerages have weighed in on MPC. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub raised Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.83 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Cowen and Company lifted their price objective on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. 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 stock. The stock has an average rating of “Buy” and an average price target of $58.62.

In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is accessible through this hyperlink. Also, VP C. Michael Palmer sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were 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 in the company, valued at approximately $3,288,560.25. The disclosure for this sale can be found here. Company insiders own 1.05% of the company’s stock.

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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