Manning & Napier Advisors LLC Has $14.29 Million Stake in Marathon Petroleum Corporation (NYSE:MPC)

Manning & Napier Advisors LLC trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,101 shares of the oil and gas company’s stock after selling 11,016 shares during the period. Manning & Napier Advisors LLC’s holdings in Marathon Petroleum were worth $14,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum in the 4th quarter valued at $27,000. Cape Investment Advisory Inc. raised its holdings in Marathon Petroleum by 762.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 267 shares in the last quarter. OFI Invest Asset Management acquired a new position in Marathon Petroleum in the fourth quarter valued at about $44,000. Finally, Capital A Wealth Management LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at about $52,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen boosted their price target on Marathon Petroleum from $152.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Raymond James Financial dropped their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 9th. Barclays boosted their price objective on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. Wall Street Zen upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley lowered their price target on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.80.

Check Out Our Latest Report on Marathon Petroleum

Marathon Petroleum Price Performance

Shares of MPC opened at $168.93 on Friday. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.31. The business has a 50-day simple moving average of $151.77 and a two-hundred day simple moving average of $146.83. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The stock has a market cap of $51.90 billion, a PE ratio of 23.76, a PEG ratio of 3.34 and a beta of 0.89.

Marathon Petroleum (NYSE:MPC — Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same quarter in the prior year, the firm posted $2.58 earnings per share. The firm’s revenue was down 4.1% compared to the same quarter last year. Analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio (DPR) is currently 51.20%.

About Marathon Petroleum

(Free Report)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.

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