Aberdeen Asset Management PLC UK Buys 111,946 Shares of Marathon Petroleum Corporation (MPC)

Aberdeen Asset Management PLC UK grew its stake in Marathon Petroleum Corporation (NYSE:MPC) by 41.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 385,075 shares of the oil and gas company’s stock after acquiring an additional 111,946 shares during the quarter. Aberdeen Asset Management PLC UK owned about 0.08% of Marathon Petroleum Corporation worth $20,151,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Blockhouse Capital Management LP purchased a new stake in shares of Marathon Petroleum Corporation in the first quarter valued at $14,970,000. Fox Run Management L.L.C. lifted its position in shares of Marathon Petroleum Corporation by 143.6% in the second quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock valued at $1,402,000 after acquiring an additional 15,800 shares in the last quarter. Heritage Way Advisors LLC lifted its position in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock valued at $1,935,000 after acquiring an additional 850 shares in the last quarter. Buckingham Asset Management LLC lifted its position in shares of Marathon Petroleum Corporation by 2.1% in the first quarter. Buckingham Asset Management LLC now owns 4,141 shares of the oil and gas company’s stock valued at $209,000 after acquiring an additional 87 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Marathon Petroleum Corporation by 1.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,119,312 shares of the oil and gas company’s stock valued at $56,570,000 after acquiring an additional 12,792 shares in the last quarter. Institutional investors and hedge funds own 78.85% of the company’s stock.

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Several brokerages have recently issued reports on MPC. Zacks Investment Research upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a research report on Wednesday, September 6th. BidaskClub upgraded Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Wells Fargo & Company downgraded Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $65.00 to $56.00 in a research report on Tuesday, September 5th. Finally, Cowen and Company increased their target price on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Six 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. Marathon Petroleum Corporation currently has an average rating of “Buy” and a consensus price target of $59.16.

In related news, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.05% of the stock is currently owned by company insiders.

Shares of Marathon Petroleum Corporation (MPC) opened at 53.42 on Monday. The firm has a market capitalization of $27.04 billion, a price-to-earnings ratio of 31.85 and a beta of 1.56. The firm’s 50-day moving average price is $53.18 and its 200 day moving average price is $51.96. 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 released its quarterly earnings data 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. The firm had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. Marathon Petroleum Corporation’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 EPS. On average, analysts anticipate that Marathon Petroleum Corporation will post $2.89 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be given a dividend of $0.40 per share. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend 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 (DPR) is presently 90.91%.

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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