American Century Companies Inc. Has $49.37 Million Position in Marathon Petroleum Corporation $MPC

Key Points

• American Century Companies Inc. increased its stake in Marathon Petroleum Corporation by 18.9% during the 1st quarter, owning approximately 0.11% of the company, valued at $49.37 million.
• Marathon Petroleum reported earnings per share of $3.96 for the quarter, exceeding estimates by $0.74, although revenue was down 11.1% year-over-year.
• The company declared a quarterly dividend of $0.91 per share, representing an annual yield of 2.2%, with the payment date set for September 10th.

American Century Companies Inc. grew its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 18.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 338,863 shares of the oil and gas company's stock after acquiring an additional 53,755 shares during the period. American Century Companies Inc. owned 0.11% of Marathon Petroleum worth $49,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MPC. Ethic Inc. grew its stake in Marathon Petroleum by 23.1% in the first quarter. Ethic Inc. now owns 8,879 shares of the oil and gas company's stock valued at $1,302,000 after purchasing an additional 1,667 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Marathon Petroleum by 2.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,977 shares of the oil and gas company's stock valued at $1,162,000 after buying an additional 179 shares during the last quarter. Aberdeen Group plc grew its stake in shares of Marathon Petroleum by 81.8% in the 1st quarter. Aberdeen Group plc now owns 139,759 shares of the oil and gas company's stock valued at $20,262,000 after buying an additional 62,880 shares in the last quarter. Tacita Capital Inc increased its holdings in Marathon Petroleum by 36.2% in the first quarter. Tacita Capital Inc now owns 361 shares of the oil and gas company's stock worth $53,000 after buying an additional 96 shares during the last quarter. Finally, Waypoint Wealth Partners Inc. bought a new position in Marathon Petroleum during the first quarter valued at approximately $208,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on MPC shares. Mizuho boosted their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Wolfe Research cut shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. UBS Group increased their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Finally, Piper Sandler upped their price target on Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of "Hold" and an average price target of $185.29.

Insider Activity

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

Marathon Petroleum Stock Performance

Shares of MPC stock traded up $1.3830 during trading hours on Monday, reaching $172.2630. 1,476,873 shares of the company's stock were exchanged, compared to its average volume of 1,690,020. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week 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 stock has a market capitalization of $52.37 billion, a P/E ratio of 25.56, a P/E/G ratio of 3.11 and a beta of 0.90. The business has a fifty day moving average price of $169.71 and a 200-day moving average price of $154.71.

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

Marathon Petroleum Announces Dividend

The business 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 dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.1%. Marathon Petroleum's dividend payout ratio is currently 54.01%.

About Marathon Petroleum

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.