The Manning & Napier Advisors LLC Buys 642 Shares of Marathon Petroleum Corp. (MPC)

The Manning & Napier Advisors LLC Buys 642 Shares of Marathon Petroleum Corp. (MPC)

Manning & Napier Advisors LLC increased its stake in shares of Marathon Petroleum Corp. (NYSE:MPC) by 1.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,768 shares of the company’s stock after buying an additional 642 shares during the period. Manning & Napier Advisors LLC’s holdings in Marathon Petroleum Corp. were worth $2,384,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC raised its position in Marathon Petroleum Corp. by 23.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 24,511,104 shares of the company’s stock valued at $930,442,000 after buying an additional 4,606,506 shares during the period. BlackRock Fund Advisors raised its position in Marathon Petroleum Corp. by 21.9% in the second quarter. BlackRock Fund Advisors now owns 9,733,911 shares of the company’s stock valued at $369,499,000 after buying an additional 1,750,344 shares during the period. BlackRock Investment Management LLC raised its position in Marathon Petroleum Corp. by 1.7% in the second quarter. BlackRock Investment Management LLC now owns 5,848,505 shares of the company’s stock valued at $222,009,000 after buying an additional 98,717 shares during the period. Legal & General Group Plc raised its position in Marathon Petroleum Corp. by 6.9% in the second quarter. Legal & General Group Plc now owns 2,879,940 shares of the company’s stock valued at $109,259,000 after buying an additional 186,223 shares during the period. Finally, Carlson Capital L P raised its position in Marathon Petroleum Corp. by 9.5% in the second quarter. Carlson Capital L P now owns 2,655,991 shares of the company’s stock valued at $100,821,000 after buying an additional 230,523 shares during the period. Institutional investors and hedge funds own 77.78% of the company’s stock.

Marathon Petroleum Corp. (NYSE:MPC) traded down 1.08% during midday trading on Thursday, hitting $48.37. 4,181,517 shares of the stock were exchanged. Marathon Petroleum Corp. has a 52 week low of $29.24 and a 52 week high of $54.59. The firm’s 50-day moving average is $49.48 and its 200 day moving average is $43.55. The stock has a market cap of $25.53 billion, a price-to-earnings ratio of 22.77 and a beta of 1.80.

Marathon Petroleum Corp. (NYSE:MPC) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.23. The firm earned $16.46 billion during the quarter, compared to analysts’ expectations of $17.18 billion. Marathon Petroleum Corp. had a net margin of 1.84% and a return on equity of 6.74%. The firm’s revenue was down 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 EPS. Equities research analysts expect that Marathon Petroleum Corp. will post $2.01 EPS for the current fiscal year.

MPC has been the topic of several recent analyst reports. Jefferies Group set a $48.00 target price on Marathon Petroleum Corp. and gave the company a “buy” rating in a report on Saturday, October 15th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $54.00 target price on shares of Marathon Petroleum Corp. in a report on Wednesday, October 12th. Bank of America Corp. reaffirmed a “buy” rating on shares of Marathon Petroleum Corp. in a report on Monday, September 26th. Credit Suisse Group AG raised their price objective on Marathon Petroleum Corp. from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, January 4th. Finally, JPMorgan Chase & Co. raised Marathon Petroleum Corp. from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $46.00 to $57.00 in a report on Wednesday, December 7th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Marathon Petroleum Corp. presently has an average rating of “Buy” and a consensus price target of $53.57.

Marathon Petroleum Corp. Company Profile

Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.

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