FineMark National Bank & Trust Has $5.81 Million Position in Marathon Petroleum Corporation (NYSE:MPC)

FineMark National Bank & Trust boosted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,965 shares of the oil and gas company’s stock after buying an additional 6,393 shares during the period. FineMark National Bank & Trust’s holdings in Marathon Petroleum Corporation were worth $5,807,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MPC. 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. 81.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Marathon Petroleum Corporation (NYSE MPC) traded down 0.10% during mid-day trading on Friday, hitting $52.16. The company had a trading volume of 3,303,525 shares. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81. The company’s 50-day moving average is $54.11 and its 200 day moving average is $51.62. The company has a market capitalization of $26.41 billion, a PE ratio of 31.10 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $18.35 billion for the quarter, compared to analysts’ expectations of $19.98 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Marathon Petroleum Corporation will post $2.74 EPS for the current fiscal 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is currently 81.82%.

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A number of brokerages have commented on MPC. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday. Jefferies Group LLC reiterated a “buy” rating and set a $54.83 target price (down from $65.00) on shares of Marathon Petroleum Corporation in a research 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 research report on Tuesday, July 11th. Piper Jaffray Companies reiterated an “overweight” rating and set a $62.00 target price on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. Finally, BidaskClub downgraded Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company 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 4,568 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $52.04, for a total transaction of $237,718.72. Following the transaction, the vice president now owns 62,325 shares in the company, valued at approximately $3,243,393. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction that occurred on 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. Insiders have sold a total of 33,568 shares of company stock worth $1,808,969 in the last quarter. Company 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.

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

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