Invesco Ltd. Has $426.31 Million Position in Marathon Petroleum Corporation $MPC

Invesco Ltd. cut its stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 23.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,566,445 shares of the oil and gas company’s stock after selling 779,026 shares during the quarter. Invesco Ltd. owned approximately 0.84% of Marathon Petroleum worth $426,312,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Marathon Petroleum by 11.2% during the second quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock worth $6,456,049,000 after buying an additional 3,924,713 shares in the last quarter. Wellington Management Group LLP increased its holdings in Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after purchasing an additional 1,862,674 shares in the last quarter. Geode Capital Management LLC raised its position in Marathon Petroleum by 14.8% in the 2nd quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after purchasing an additional 1,033,645 shares during the last quarter. Boston Partners boosted its stake in Marathon Petroleum by 13.1% in the second quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock worth $1,024,395,000 after purchasing an additional 715,223 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Marathon Petroleum by 6.3% in the first quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after purchasing an additional 355,215 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $190.47 on Friday. The firm’s 50 day moving average price is $191.51 and its two-hundred day moving average price is $178.33. The stock has a market cap of $57.25 billion, a PE ratio of 20.31, a PEG ratio of 0.98 and a beta of 0.72. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.29. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32.

Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. The business had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. As a group, analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The business also recently announced 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 represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 19th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio is presently 42.64%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler lifted their price target on Marathon Petroleum from $220.00 to $231.00 and gave the company a “neutral” rating in a report on Friday, November 14th. BMO Capital Markets boosted their target price on shares of Marathon Petroleum from $208.00 to $210.00 in a research note on Tuesday, November 11th. JPMorgan Chase & Co. upped their target price on shares of Marathon Petroleum from $183.00 to $211.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. Finally, Evercore ISI upped their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Hold” and an average price target of $203.21.

Check Out Our Latest Research Report on Marathon Petroleum

Marathon Petroleum Profile

(Free Report)

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.

Further Reading

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