PNC Financial Services Group Inc. Purchases 542 Shares of Marathon Petroleum Corporation (MPC)

PNC Financial Services Group Inc. increased its position in Marathon Petroleum Corporation (NYSE:MPC) by 0.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 638,097 shares of the oil and gas company’s stock after buying an additional 542 shares during the quarter. PNC Financial Services Group Inc. owned 0.13% of Marathon Petroleum Corporation worth $33,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in MPC. Blue Chip Partners Inc. acquired a new position in shares of Marathon Petroleum Corporation in the second quarter valued at approximately $100,000. Guardian Life Insurance Co. of America increased its stake 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 valued at $103,000 after buying an additional 14 shares during the period. Lee Financial Co increased its stake in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 48 shares during the period. Jacobi Capital Management LLC increased its stake 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 valued at $116,000 after buying an additional 570 shares during the period. Finally, First Interstate Bank increased its stake in shares of Marathon Petroleum Corporation by 81.1% in the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after buying an additional 1,064 shares during the period. 78.25% of the stock is owned by institutional investors.

In related news, VP C. Michael Palmer sold 11,450 shares of Marathon Petroleum Corporation stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.05% of the company’s stock.

A number of research firms have weighed in on MPC. Scotiabank reissued a “hold” rating and set a $55.00 target price on shares of Marathon Petroleum Corporation in a research report on Friday, September 1st. BidaskClub raised shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Jefferies Group LLC reissued a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research report on Wednesday, September 6th. Credit Suisse Group reissued a “buy” rating and set a $64.00 target price on shares of Marathon Petroleum Corporation in a research report on Friday, July 14th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $71.00 target price on shares of Marathon Petroleum Corporation in a research report on Thursday, August 31st. Six equities research 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 company. The company currently has a consensus rating of “Buy” and an average price target of $59.67.

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Marathon Petroleum Corporation (NYSE MPC) traded up 0.09% during trading on Tuesday, hitting $53.63. The company’s stock had a trading volume of 324,073 shares. The firm has a 50 day moving average of $52.78 and a 200 day moving average of $52.11. Marathon Petroleum Corporation has a 12 month low of $39.29 and a 12 month high of $56.81. The firm has a market cap of $27.15 billion, a P/E ratio of 31.98 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $18.35 billion for the quarter, compared to the consensus estimate of $19.98 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Corporation will post $2.92 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Wednesday, August 16th were given a dividend of $0.40 per share. The ex-dividend date was Monday, August 14th. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.99%. Marathon Petroleum Corporation’s payout ratio is currently 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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