Parametric Portfolio Associates LLC Grows Holdings in Marathon Petroleum Corporation (MPC)

Parametric Portfolio Associates LLC raised its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 87.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,317,146 shares of the oil and gas company’s stock after purchasing an additional 1,083,232 shares during the quarter. Parametric Portfolio Associates LLC owned 0.46% of Marathon Petroleum Corporation worth $121,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Advisor Group Inc. lifted its position in Marathon Petroleum Corporation by 16.0% during the second quarter. Advisor Group Inc. now owns 25,682 shares of the oil and gas company’s stock valued at $1,338,000 after purchasing an additional 3,546 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Marathon Petroleum Corporation by 2.3% in the 2nd quarter. Nordea Investment Management AB now owns 189,448 shares of the oil and gas company’s stock worth $9,914,000 after acquiring an additional 4,261 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Marathon Petroleum Corporation by 3.2% in the 2nd quarter. M&T Bank Corp now owns 74,313 shares of the oil and gas company’s stock worth $3,889,000 after acquiring an additional 2,277 shares during the last quarter. Wealthfront Inc. lifted its holdings in shares of Marathon Petroleum Corporation by 23.2% in the 2nd quarter. Wealthfront Inc. now owns 16,556 shares of the oil and gas company’s stock worth $866,000 after acquiring an additional 3,117 shares during the last quarter. Finally, FIL Ltd lifted its holdings in shares of Marathon Petroleum Corporation by 0.7% in the 2nd quarter. FIL Ltd now owns 1,043,317 shares of the oil and gas company’s stock worth $54,597,000 after acquiring an additional 7,225 shares during the last quarter. Institutional investors and hedge funds own 78.25% of the company’s stock.

Marathon Petroleum Corporation (NYSE MPC) traded up 0.66% on Friday, reaching $54.73. 3,681,410 shares of the company traded hands. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81. The stock has a market capitalization of $28.89 billion, a price-to-earnings ratio of 24.76 and a beta of 1.56. The stock has a 50 day moving average of $52.72 and a 200-day moving average of $52.13.

Marathon Petroleum Corporation (NYSE:MPC) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS 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 company had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same period in the previous year, the company earned $1.07 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Corporation will post $2.95 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.60 dividend on an annualized basis and a yield of 2.92%. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio is presently 90.91%.

MPC has been the subject of several analyst reports. Scotiabank restated a “hold” rating and issued a $55.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, September 1st. BidaskClub upgraded shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Jefferies Group LLC restated a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of Marathon Petroleum Corporation in a report on Wednesday, September 6th. Credit Suisse Group restated a “buy” rating and issued a $64.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $71.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, August 31st. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Marathon Petroleum Corporation presently has an average rating of “Buy” and a consensus price target of $59.67.

In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.05% of the company’s stock.

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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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