American Century Companies Inc. Boosts Stock Position in Marathon Petroleum Corporation $MPC

American Century Companies Inc. lifted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 363,776 shares of the oil and gas company’s stock after purchasing an additional 24,913 shares during the quarter. American Century Companies Inc. owned about 0.12% of Marathon Petroleum worth $60,427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management grew its holdings in Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 119 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter valued at about $32,000. NewSquare Capital LLC grew its holdings in shares of Marathon Petroleum by 103.1% in the second 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 during the period. Stone House Investment Management LLC increased its position in Marathon Petroleum by 46.1% during the second quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 71 shares during the last quarter. Finally, Operose Advisors LLC acquired a new stake in Marathon Petroleum during the first quarter worth about $42,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock opened at $191.86 on Friday. The business’s 50-day moving average is $191.50 and its two-hundred day moving average is $177.11. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market capitalization of $57.67 billion, a P/E ratio of 20.45, a P/E/G ratio of 0.98 and a beta of 0.90. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $202.29.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The firm had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. Analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be given a dividend of $1.00 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. Marathon Petroleum’s dividend payout ratio is presently 42.64%.

Analyst Upgrades and Downgrades

MPC has been the subject of several analyst reports. TD Cowen dropped their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Mizuho upped their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Barclays raised their target price on Marathon Petroleum from $194.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Wall Street Zen raised Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Bank of America increased their price target on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $202.14.

Marathon Petroleum Profile

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.