American Century Companies Inc. Has $66.24 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

American Century Companies Inc. lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 28.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 381,838 shares of the oil and gas company’s stock after selling 154,715 shares during the period. American Century Companies Inc. owned 0.11% of Marathon Petroleum worth $66,241,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MPC. Raymond James & Associates grew its position in Marathon Petroleum by 2.6% in the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after purchasing an additional 107,915 shares during the period. Norges Bank acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at about $500,685,000. Price T Rowe Associates Inc. MD increased its position in shares of Marathon Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after acquiring an additional 31,100 shares in the last quarter. Boston Partners raised its holdings in shares of Marathon Petroleum by 0.3% in the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after acquiring an additional 8,476 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in Marathon Petroleum by 7.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock valued at $335,241,000 after acquiring an additional 117,790 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wolfe Research started coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective for the company. Piper Sandler dropped their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Scotiabank dropped their price target on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Hold” and a consensus target price of $198.38.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $163.58 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The business’s 50 day simple moving average is $170.03 and its 200 day simple moving average is $180.16. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11. The company has a market cap of $54.75 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 2.09 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.32 EPS. Sell-side analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

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.