Bank of America Corp DE purchased 2,432,168 shares of Marathon Petroleum Corporation during the second quarter.
The investment is valued at approximately $621.8 million. Bank of America now holds a 0.83% ownership stake in the company, according to a recent SEC filing.
The move follows a broader trend of institutional investment in the oil and gas firm. BlackRock Inc. and The Bank of New York Mellon Corp also recently acquired new positions in Marathon Petroleum.