Manning & Napier Advisors LLC Cuts Stake in Marathon Petroleum Corporation (MPC)

Manning & Napier Advisors LLC lessened its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 8.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,584 shares of the oil and gas company’s stock after selling 8,833 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Marathon Petroleum Corporation were worth $5,415,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. OMERS ADMINISTRATION Corp lifted its position in shares of Marathon Petroleum Corporation by 341.7% in the second quarter. OMERS ADMINISTRATION Corp now owns 53,000 shares of the oil and gas company’s stock worth $2,773,000 after purchasing an additional 41,000 shares in the last quarter. Wilen Investment Management CORP. lifted its position in shares of Marathon Petroleum Corporation by 31.3% in the second quarter. Wilen Investment Management CORP. now owns 38,148 shares of the oil and gas company’s stock worth $1,984,000 after purchasing an additional 9,100 shares in the last quarter. Commonwealth Bank of Australia lifted its position in shares of Marathon Petroleum Corporation by 1.8% in the second quarter. Commonwealth Bank of Australia now owns 174,826 shares of the oil and gas company’s stock worth $9,147,000 after purchasing an additional 3,097 shares in the last quarter. Greenleaf Trust lifted its position in shares of Marathon Petroleum Corporation by 15.5% in the second quarter. Greenleaf Trust now owns 4,981 shares of the oil and gas company’s stock worth $261,000 after purchasing an additional 670 shares in the last quarter. Finally, Airain ltd acquired a new position in Marathon Petroleum Corporation during the second quarter worth $7,959,000. 81.02% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Anthony R. Kenney sold 77,578 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $62.35, for a total value of $4,836,988.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

Marathon Petroleum Corporation (NYSE MPC) traded up $0.26 during trading hours on Friday, hitting $62.27. 2,980,762 shares of the company’s stock traded hands, compared to its average volume of 4,221,170. Marathon Petroleum Corporation has a 12-month low of $42.57 and a 12-month high of $63.41. The firm has a market capitalization of $30,413.41, a P/E ratio of 18.93, a P/E/G ratio of 1.54 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.29. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.52%. The firm had revenue of $19.36 billion for the quarter, compared to the consensus estimate of $19.38 billion. During the same period in the previous year, the company earned $0.58 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. equities research analysts expect that Marathon Petroleum Corporation will post 3.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is presently 49.08%.

A number of equities analysts recently weighed in on the stock. UBS AG downgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $65.00 in a report on Wednesday. Cowen and Company restated a “buy” rating on shares of Marathon Petroleum Corporation in a report on Tuesday, November 14th. Barclays PLC boosted their target price on shares of Marathon Petroleum Corporation from $63.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Friday, November 10th. Finally, Citigroup Inc. boosted their target price on shares of Marathon Petroleum Corporation from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Marathon Petroleum Corporation currently has an average rating of “Buy” and a consensus price target of $65.07.

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About Marathon Petroleum Corporation

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

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Institutional Ownership by Quarter for Marathon Petroleum Corporation (NYSE:MPC)

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