First Quadrant L P CA Lowers Holdings in Marathon Petroleum Corporation (MPC)

First Quadrant L P CA reduced its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 593,648 shares of the oil and gas company’s stock after selling 1,851 shares during the period. Marathon Petroleum Corporation makes up 0.6% of First Quadrant L P CA’s investment portfolio, making the stock its 20th largest holding. First Quadrant L P CA owned about 0.12% of Marathon Petroleum Corporation worth $33,292,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. OMERS ADMINISTRATION Corp grew its position in Marathon Petroleum Corporation by 341.7% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 53,000 shares of the oil and gas company’s stock worth $2,773,000 after purchasing an additional 41,000 shares during the last quarter. Wilen Investment Management CORP. grew its position in Marathon Petroleum Corporation by 31.3% during the 2nd quarter. Wilen Investment Management CORP. now owns 38,148 shares of the oil and gas company’s stock worth $1,984,000 after purchasing an additional 9,100 shares during the last quarter. Commonwealth Bank of Australia grew its position in Marathon Petroleum Corporation by 1.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 174,826 shares of the oil and gas company’s stock worth $9,147,000 after purchasing an additional 3,097 shares during the last quarter. Fox Run Management L.L.C. grew its position in Marathon Petroleum Corporation by 143.6% during the 2nd quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock worth $1,402,000 after purchasing an additional 15,800 shares during the last quarter. Finally, Heritage Way Advisors LLC grew its position in Marathon Petroleum Corporation by 2.4% during the 2nd quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock worth $1,935,000 after purchasing an additional 850 shares during the last quarter. 78.24% of the stock is currently owned by institutional investors.

Shares of Marathon Petroleum Corporation (NYSE:MPC) traded up 2.10% during mid-day trading on Friday, hitting $58.47. 4,159,870 shares of the company traded hands. Marathon Petroleum Corporation has a 52-week low of $40.01 and a 52-week high of $58.93. The firm has a market cap of $29.60 billion, a price-to-earnings ratio of 34.87 and a beta of 1.56. The firm has a 50-day moving average price of $55.55 and a 200 day moving average price of $53.32.

Marathon Petroleum Corporation (NYSE:MPC) last announced its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.29. The firm had revenue of $19.36 billion during the quarter, compared to analyst estimates of $19.38 billion. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.51%. Marathon Petroleum Corporation’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. Equities research analysts anticipate that Marathon Petroleum Corporation will post $3.35 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.74%. Marathon Petroleum Corporation’s dividend payout ratio is presently 49.08%.

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In related news, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.05% of the company’s stock.

Several brokerages have issued reports on MPC. Cowen and Company raised their price objective on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Scotiabank set a $55.00 price objective on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $61.53.

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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