Marathon Petroleum Corporation (MPC) Shares Bought by State of Wisconsin Investment Board

State of Wisconsin Investment Board boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 23.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 683,348 shares of the oil and gas company’s stock after buying an additional 128,490 shares during the period. State of Wisconsin Investment Board owned approximately 0.14% of Marathon Petroleum Corporation worth $35,760,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Guardian Life Insurance Co. of America raised its stake 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 valued at $103,000 after buying an additional 14 shares during the period. FTB Advisors Inc. increased its stake 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 valued at $104,000 after buying an additional 1,697 shares in the last quarter. Lee Financial Co increased its stake in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 48 shares in the last quarter. Jacobi Capital Management LLC increased its stake 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 valued at $116,000 after buying an additional 570 shares in the last quarter. Finally, Tarbox Group Inc. increased its stake 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 valued at $122,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds own 81.36% of the company’s stock.

Marathon Petroleum Corporation (NYSE:MPC) opened at 51.89 on Wednesday. The firm has a market capitalization of $26.27 billion, a price-to-earnings ratio of 30.94 and a beta of 1.56. The company’s 50-day moving average price is $54.18 and its 200 day moving average price is $51.71. Marathon Petroleum Corporation has a 52-week low of $39.29 and a 52-week high of $56.81.

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 for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The business had revenue of $18.35 billion for the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Equities analysts predict that Marathon Petroleum Corporation will post $2.74 earnings per share 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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, August 14th. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 3.08%. Marathon Petroleum Corporation’s payout ratio is currently 90.91%.

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MPC has been the subject of several analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $61.00 target price on shares of Marathon Petroleum Corporation in a report on Wednesday, April 19th. Citigroup Inc. reaffirmed a “buy” rating and set a $67.00 target price (down from $68.50) on shares of Marathon Petroleum Corporation in a report on Saturday, April 22nd. Scotiabank reaffirmed a “hold” rating and set a $54.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, April 28th. US Capital Advisors reaffirmed a “buy” rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $62.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Marathon Petroleum Corporation presently has an average rating of “Buy” and a consensus price target of $58.62.

In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 4,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total transaction of $213,000.00. Following the transaction, the vice president now directly owns 61,757 shares in the company, valued at $3,288,560.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,568 shares of company stock worth $1,808,969. Corporate insiders own 1.05% of the company’s stock.

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.

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

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