Manning & Napier Advisors LLC Reduces Position in Marathon Petroleum Corporation $MPC

Manning & Napier Advisors LLC reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 44.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum during the second quarter worth approximately $25,000. Activest Wealth Management grew its stake in shares of Marathon Petroleum by 290.2% in the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 119 shares in the last quarter. NewSquare Capital LLC raised its position in Marathon Petroleum by 103.1% in the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 101 shares in the last quarter. WFA of San Diego LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth $33,000. Finally, Transce3nd LLC raised its position in shares of Marathon Petroleum by 10,250.0% during the 2nd quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MPC. Evercore ISI lifted their price objective on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research note on Friday, September 19th. Wells Fargo & Company decreased 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 report on Wednesday, November 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a report on Tuesday, December 9th. Piper Sandler cut their target price on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Finally, Mizuho raised their target price on shares of Marathon Petroleum from $198.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.79.

Marathon Petroleum Trading Up 0.4%

Marathon Petroleum stock opened at $176.18 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. The firm’s 50-day moving average is $182.60 and its 200-day moving average is $180.56. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $202.29. The company 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.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The business had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. On average, equities analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

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

About Marathon Petroleum

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.