Allspring Global Investments Holdings LLC Has $11.52 Million Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Allspring Global Investments Holdings LLC lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 41.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,581 shares of the oil and gas company's stock after selling 56,081 shares during the period. Allspring Global Investments Holdings LLC's holdings in Marathon Petroleum were worth $11,522,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock worth $1,389,630,000 after acquiring an additional 4,367,774 shares during the period. Demars Financial Group LLC increased its stake in Marathon Petroleum by 12.8% during the 1st quarter. Demars Financial Group LLC now owns 4,713,595 shares of the oil and gas company's stock worth $686,724,000 after acquiring an additional 536,462 shares during the period. Dimensional Fund Advisors LP increased its stake in Marathon Petroleum by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company's stock worth $613,624,000 after acquiring an additional 452,043 shares during the period. Northern Trust Corp increased its stake in Marathon Petroleum by 14.0% during the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock worth $549,260,000 after acquiring an additional 484,438 shares during the period. Finally, Boston Partners increased its stake in Marathon Petroleum by 37.4% during the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company's stock worth $480,501,000 after acquiring an additional 935,042 shares during the period. Institutional investors own 76.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Cowen lifted 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. Scotiabank decreased their price target on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Mizuho lifted their price target on Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Piper Sandler decreased their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Finally, Wells Fargo & Company lifted their price target on Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of "Moderate Buy" and a consensus price target of $176.13.

Marathon Petroleum Trading Down 1.4%

MPC traded down $2.46 during midday trading on Friday, hitting $172.01. 1,135,939 shares of the company were exchanged, compared to its average volume of 2,708,487. The firm has a market capitalization of $52.84 billion, a P/E ratio of 24.19, a P/E/G ratio of 3.46 and a beta of 0.88. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.31. The firm's 50 day moving average price is $159.64 and its 200-day moving average price is $148.32. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The business's quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 EPS. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is 51.20%.

About Marathon Petroleum

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.