Rowland & Co. Investment Counsel ADV Sells 600 Shares of Marathon Petroleum Corporation (MPC)

Rowland & Co. Investment Counsel ADV trimmed its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 23.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,984 shares of the oil and gas company’s stock after selling 600 shares during the quarter. Rowland & Co. Investment Counsel ADV’s holdings in Marathon Petroleum Corporation were worth $104,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Marathon Petroleum Corporation by 12.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 884,412 shares of the oil and gas company’s stock valued at $46,281,000 after purchasing an additional 97,255 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Marathon Petroleum Corporation during the 2nd quarter valued at approximately $8,320,000. Gyroscope Capital Management Group LLC purchased a new position in shares of Marathon Petroleum Corporation during the 2nd quarter valued at approximately $243,000. C M Bidwell & Associates Ltd. increased its holdings in shares of Marathon Petroleum Corporation by 165.2% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 126,350 shares of the oil and gas company’s stock valued at $6,612,000 after purchasing an additional 78,705 shares in the last quarter. Finally, Caxton Associates LP purchased a new position in shares of Marathon Petroleum Corporation during the 2nd quarter valued at approximately $450,000. 78.25% of the stock is owned by hedge funds and other institutional investors.

MPC has been the subject of several recent research reports. Bank of America Corporation lowered shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a report on Tuesday, September 5th. Wells Fargo & Company lowered shares of Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating and cut their target price for the company from $65.00 to $56.00 in a report on Tuesday, September 5th. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Scotiabank reissued a “hold” rating and issued a $55.00 price target on shares of Marathon Petroleum Corporation in a research note on Friday, September 1st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $71.00 price target on shares of Marathon Petroleum Corporation in a research note on Thursday, August 31st. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Marathon Petroleum Corporation currently has an average rating of “Buy” and a consensus price target of $60.27.

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Shares of Marathon Petroleum Corporation (MPC) traded up 0.82% during midday trading on Tuesday, reaching $56.60. 1,122,355 shares of the company’s stock traded hands. Marathon Petroleum Corporation has a 52 week low of $40.01 and a 52 week high of $57.02. The stock’s 50 day moving average is $53.63 and its 200-day moving average is $52.67. The company has a market capitalization of $28.65 billion, a PE ratio of 33.75 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 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 firm had revenue of $18.35 billion during the quarter, compared to analysts’ expectations of $19.98 billion. During the same quarter in the prior year, the business earned $1.07 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts forecast that Marathon Petroleum Corporation will post $2.99 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were given a $0.40 dividend. The ex-dividend date was Monday, August 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.85%. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is currently 90.91%.

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

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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