Marathon Petroleum Corporation $MPC Stock Position Lowered by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC decreased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 44.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,337 shares of the oil and gas company’s stock after selling 35,178 shares during the period. Manning & Napier Advisors LLC’s holdings in Marathon Petroleum were worth $8,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MPC. Delos Wealth Advisors LLC acquired a new position in shares of Marathon Petroleum in the second quarter worth $25,000. Activest Wealth Management grew its holdings in Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 119 shares during the last quarter. NewSquare Capital LLC increased its stake in Marathon Petroleum by 103.1% during the second quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 101 shares during the period. WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $33,000. Finally, Transce3nd LLC increased its stake in shares of Marathon Petroleum by 10,250.0% in the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 205 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 0.4%

Marathon Petroleum stock opened at $176.18 on Wednesday. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $202.29. The firm’s fifty day moving average price is $182.60 and its 200-day moving average price is $180.56. The stock has a market cap of $52.96 billion, a P/E ratio of 18.78, a PEG ratio of 0.70 and a beta of 0.74. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The company had revenue of $34.81 billion during the quarter, compared to the consensus estimate of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. Equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is presently 42.64%.

Analysts Set New Price Targets

Several research analysts recently weighed in on MPC shares. Wells Fargo & Company reduced their price objective on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. JPMorgan Chase & Co. upped their target price on Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Wall Street Zen lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $199.79.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.