Manning & Napier Advisors LLC Lowers Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Manning & Napier Advisors LLC cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,101 shares of the oil and gas company's stock after selling 11,016 shares during the quarter. Manning & Napier Advisors LLC's holdings in Marathon Petroleum were worth $14,292,000 as of its most recent SEC filing.

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

Marathon Petroleum Trading Up 0.9%

Shares of NYSE MPC traded up $1.51 during midday trading on Friday, hitting $168.93. The company's stock had a trading volume of 6,553,131 shares, compared to its average volume of 2,687,947. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.31. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. The firm has a market cap of $51.90 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 3.34 and a beta of 0.89. The business's 50 day moving average is $151.77 and its two-hundred day moving average is $146.81.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.16. The business had revenue of $31.85 billion during 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 revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the company earned $2.58 earnings per share. As a group, equities research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

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

Analyst Ratings Changes

Several analysts have commented on MPC shares. Wells Fargo & Company boosted their price target on shares of Marathon Petroleum from $180.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Piper Sandler dropped their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. TD Cowen lifted their price objective on Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Barclays increased their target price on Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.80.

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.