Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in Marathon Petroleum Co. (NYSE:MPC)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 72.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,260 shares of the oil and gas company’s stock after selling 5,887 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Marathon Petroleum were worth $315,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. SWS Partners increased its position in shares of Marathon Petroleum by 19.0% during the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock valued at $2,452,000 after acquiring an additional 2,806 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Marathon Petroleum by 1,204.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after purchasing an additional 501,441 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of Marathon Petroleum by 747.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after purchasing an additional 18,764 shares during the last quarter. World Investment Advisors LLC lifted its holdings in shares of Marathon Petroleum by 4,227.5% during the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock valued at $11,364,000 after purchasing an additional 68,147 shares in the last quarter. Finally, Nilsine Partners LLC boosted its position in shares of Marathon Petroleum by 5.6% during the fourth quarter. Nilsine Partners LLC now owns 32,683 shares of the oil and gas company’s stock valued at $4,559,000 after buying an additional 1,746 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on MPC shares. Mizuho lowered their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler lowered their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Raymond James increased their price target on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.21.

Marathon Petroleum Stock Down 1.5 %

MPC stock opened at $149.62 on Monday. The business’s 50-day moving average price is $149.04 and its 200-day moving average price is $152.03. The stock has a market cap of $46.61 billion, a P/E ratio of 15.07, a PEG ratio of 3.11 and a beta of 1.39. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.98 earnings per share. On average, equities research analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were given a $0.91 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.43%. Marathon Petroleum’s payout ratio is 36.66%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling purchased 2,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the purchase, the insider now directly owns 12,162 shares of the company’s stock, valued at $1,638,464.64. This trade represents a 19.68 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the transaction, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

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.