Sheaff Brock Investment Advisors LLC Sells 800 Shares of Marathon Petroleum Corporation (MPC)

Sheaff Brock Investment Advisors LLC decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 11.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,125 shares of the oil and gas company’s stock after selling 800 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Marathon Petroleum Corporation were worth $321,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Blue Chip Partners Inc. bought a new position in Marathon Petroleum Corporation in the second quarter valued at about $100,000. 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 worth $103,000 after buying an additional 14 shares during the period. FTB Advisors Inc. raised 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 worth $104,000 after buying an additional 1,697 shares during the period. Lee Financial Co raised 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 worth $107,000 after buying an additional 48 shares during the period. Finally, Jacobi Capital Management LLC raised 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 worth $116,000 after buying an additional 570 shares during the period. 78.85% of the stock is currently owned by institutional investors.

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MPC has been the topic of several recent research reports. Scotiabank reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Marathon Petroleum Corporation in a research note on Friday, September 1st. BidaskClub raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research note on Wednesday, September 6th. Credit Suisse Group reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Marathon Petroleum Corporation in a research note on Thursday, August 31st. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $59.16.

In related news, insider Thomas M. Kelley sold 25,000 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.05% of the company’s stock.

Shares of Marathon Petroleum Corporation (MPC) opened at 53.42 on Monday. Marathon Petroleum Corporation has a 52-week low of $39.29 and a 52-week high of $56.81. The company’s 50 day moving average price is $53.18 and its 200 day moving average price is $51.96. The stock has a market cap of $27.04 billion, a PE ratio of 31.85 and a beta of 1.56.

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 analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $18.35 billion during the quarter, compared to analyst estimates 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 for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. On average, analysts anticipate that Marathon Petroleum Corporation will post $2.89 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be issued a $0.40 dividend. This is a boost 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 3.00%. Marathon Petroleum Corporation’s dividend payout ratio is presently 90.91%.

Marathon Petroleum Corporation 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.

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

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