Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Marathon Petroleum Corporation $MPC

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Marathon Petroleum Corporation by 314.4% during the first quarter, acquiring 9,365 shares worth approximately $1.36 million.
• Analysts have recently adjusted their price targets for Marathon Petroleum, with recommendations ranging from a "sell" rating to "buy" ratings, reflecting a consensus price target of $185.29.
• The company announced a quarterly dividend of $0.91, representing an annualized dividend of $3.64 and a yield of 2.2%, with a payout ratio of 54.01%.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 314.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,365 shares of the oil and gas company's stock after purchasing an additional 7,105 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Marathon Petroleum were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock worth $5,090,611,000 after acquiring an additional 3,834,501 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Marathon Petroleum by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company's stock worth $725,878,000 after acquiring an additional 178,397 shares during the period. Demars Financial Group LLC grew its holdings in shares of Marathon Petroleum by 12.8% in the first quarter. Demars Financial Group LLC now owns 4,713,595 shares of the oil and gas company's stock worth $686,724,000 after acquiring an additional 536,462 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Marathon Petroleum by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company's stock worth $613,624,000 after acquiring an additional 452,043 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Marathon Petroleum by 14.0% in the fourth quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock worth $549,260,000 after acquiring an additional 484,438 shares during the period. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

NYSE:MPC traded up $2.2860 during mid-day trading on Wednesday, hitting $165.7560. 741,900 shares of the company traded hands, compared to its average volume of 2,629,778. The stock's fifty day moving average price is $169.50 and its 200-day moving average price is $154.26. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm has a market cap of $50.39 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.96 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same period in the previous year, the business earned $4.12 earnings per share. The business's revenue was down 11.1% on a year-over-year basis. Research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's payout ratio is presently 54.01%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley lifted their price objective on Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Wolfe Research lowered Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. UBS Group boosted their price target on Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Piper Sandler boosted their price target on Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Mizuho boosted their price target on Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $185.29.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares in the company, valued at $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Marathon Petroleum Company 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.