First Citizens Bank & Trust Co. Cuts Stake in Marathon Petroleum Corporation (NYSE:MPC)

First Citizens Bank & Trust Co. decreased its position in Marathon Petroleum Corporation (NYSE:MPC) by 52.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,832 shares of the oil and gas company’s stock after selling 12,045 shares during the period. First Citizens Bank & Trust Co.’s holdings in Marathon Petroleum Corporation were worth $567,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Marathon Petroleum Corporation by 2,779.4% in the first quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock valued at $2,836,372,000 after buying an additional 54,172,304 shares during the period. Iridian Asset Management LLC CT raised its stake in shares of Marathon Petroleum Corporation by 209.4% in the first quarter. Iridian Asset Management LLC CT now owns 7,707,619 shares of the oil and gas company’s stock valued at $389,543,000 after buying an additional 5,216,764 shares during the period. American Century Companies Inc. raised its stake in shares of Marathon Petroleum Corporation by 8,254.8% in the first quarter. American Century Companies Inc. now owns 2,042,740 shares of the oil and gas company’s stock valued at $103,240,000 after buying an additional 2,018,290 shares during the period. FMR LLC raised its stake in shares of Marathon Petroleum Corporation by 109.5% in the first quarter. FMR LLC now owns 3,685,652 shares of the oil and gas company’s stock valued at $186,273,000 after buying an additional 1,926,573 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Marathon Petroleum Corporation by 201.9% in the first quarter. Alliancebernstein L.P. now owns 2,758,794 shares of the oil and gas company’s stock valued at $139,429,000 after buying an additional 1,844,941 shares during the period. 79.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of Marathon Petroleum Corporation (NYSE:MPC) traded down 2.08% on Friday, reaching $54.98. 3,412,353 shares of the company traded hands. The firm’s 50 day moving average is $53.78 and its 200 day moving average is $51.24. Marathon Petroleum Corporation has a one year low of $38.23 and a one year high of $56.21. The company has a market capitalization of $29.02 billion, a P/E ratio of 31.65 and a beta of 1.56.

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 for the quarter, missing the consensus estimate of $1.04 by $0.01. The business had revenue of $18.35 billion during 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 5.49%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $1.07 earnings per share. Analysts expect that Marathon Petroleum Corporation will post $2.79 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is 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 yield of 2.91%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 81.82%.

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Several equities research analysts have issued reports on MPC shares. Citigroup Inc. reissued a “buy” rating and issued a $67.00 price target (down previously from $68.50) on shares of Marathon Petroleum Corporation in a report on Saturday, April 22nd. Royal Bank Of Canada reissued a “buy” rating and issued a $69.00 price target on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. Scotiabank reissued a “hold” rating and issued a $54.00 price target on shares of Marathon Petroleum Corporation in a report on Friday, April 28th. Jefferies Group LLC reissued a “buy” rating and issued a $61.00 price target on shares of Marathon Petroleum Corporation in a report on Wednesday, April 19th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $62.00 price target on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Marathon Petroleum Corporation currently has an average rating of “Buy” and an average price target of $58.62.

In related news, VP C. Michael Palmer sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total value of $213,000.00. Following the sale, the vice president now directly owns 61,757 shares of the company’s stock, valued at $3,288,560.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas M. Kelley sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The disclosure for this sale can be found here. Insiders sold 33,568 shares of company stock worth $1,808,969 over the last ninety days. 1.05% of the stock is currently owned by insiders.

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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