Ghe LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 26.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,111 shares of the oil and gas company's stock after selling 10,346 shares during the quarter. Marathon Petroleum comprises 2.7% of Ghe LLC's portfolio, making the stock its 10th biggest holding. Ghe LLC's holdings in Marathon Petroleum were worth $2,489,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MPC. State Street Corp raised its holdings in Marathon Petroleum by 0.9% during the 1st quarter. State Street Corp now owns 41,765,374 shares of the oil and gas company's stock worth $3,570,939,000 after purchasing an additional 371,647 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Marathon Petroleum by 21.9% during the 1st quarter. Bank of New York Mellon Corp now owns 12,481,878 shares of the oil and gas company's stock worth $1,067,202,000 after purchasing an additional 2,244,421 shares during the last quarter. Invesco Ltd. raised its holdings in Marathon Petroleum by 39.0% during the 1st quarter. Invesco Ltd. now owns 6,695,296 shares of the oil and gas company's stock worth $572,449,000 after purchasing an additional 1,878,976 shares during the last quarter. Norges Bank bought a new stake in Marathon Petroleum during the 4th quarter worth about $411,853,000. Finally, Canada Pension Plan Investment Board raised its holdings in Marathon Petroleum by 7.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,314,907 shares of the oil and gas company's stock worth $212,121,000 after purchasing an additional 234,319 shares during the last quarter. 78.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on MPC. StockNews.com raised Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 11th. BMO Capital Markets initiated coverage on Marathon Petroleum in a research report on Monday, June 13th. They set an "outperform" rating and a $135.00 price target for the company. Barclays upped their price objective on Marathon Petroleum from $94.00 to $112.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 16th. Morgan Stanley upped their price objective on Marathon Petroleum from $115.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, July 15th. Finally, Cowen increased their price target on Marathon Petroleum to $129.00 in a research note on Tuesday, September 20th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of "Buy" and a consensus price target of $116.54.

Marathon Petroleum Stock Down 1.4 %

Marathon Petroleum (NYSE:MPC – Get Rating) last announced its earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $5.63. The company had revenue of $54.33 billion for the quarter, compared to analysts' expectations of $44.26 billion. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. Marathon Petroleum's quarterly revenue was up 82.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 21.77 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were given a $0.58 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $2.32 annualized dividend and a yield of 2.35%. Marathon Petroleum's dividend payout ratio is currently 15.68%.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the business's stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total value of $1,512,949.73. Following the transaction, the vice president now owns 7,873 shares of the company's stock, valued at $829,892.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the business's stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total value of $1,512,949.73. Following the transaction, the vice president now owns 7,873 shares of the company's stock, valued at $829,892.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Suzanne Gagle sold 35,174 shares of the business's stock in a transaction on Monday, September 19th. The stock was sold at an average price of $93.57, for a total value of $3,291,231.18. Following the completion of the transaction, the senior vice president now directly owns 43,996 shares in the company, valued at approximately $4,116,705.72. The disclosure for this sale can be found here. Insiders own 0.28% of the company's stock.

Marathon Petroleum Company Profile

(Get Rating)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale.

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