Marathon Petroleum Corporation $MPC Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,416 shares of the oil and gas company’s stock after selling 4,198 shares during the period. Manning & Napier Advisors LLC’s holdings in Marathon Petroleum were worth $9,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Navalign LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $31,000. KERR FINANCIAL PLANNING Corp acquired a new position in Marathon Petroleum during the third quarter worth $39,000. Berbice Capital Management LLC raised its position in Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Finally, Sawyer & Company Inc acquired a new stake in Marathon Petroleum in the first quarter valued at $49,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. The Goldman Sachs Group increased their target price on shares of Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Scotiabank lifted their price target on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. upped their price target on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $274.88.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock traded up $0.30 on Friday, hitting $283.60. The company’s stock had a trading volume of 1,932,314 shares, compared to its average volume of 2,239,416. The company has a market capitalization of $82.79 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $287.15. The firm has a fifty day moving average price of $256.82 and a 200-day moving average price of $222.50. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the firm posted ($0.24) EPS. On average, equities research analysts expect that Marathon Petroleum Corporation will post 32.96 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 26.11%.

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.