Connor Clark & Lunn Investment Management Ltd. Has $6.10 Million Holdings in Marathon Petroleum Corporation $MPC

Connor Clark & Lunn Investment Management Ltd. grew its position in Marathon Petroleum Corporation (NYSE:MPC) by 291.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,693 shares of the oil and gas company’s stock after buying an additional 27,328 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Marathon Petroleum were worth $6,095,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Marathon Petroleum by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after purchasing an additional 3,834,501 shares in the last quarter. Boston Partners boosted its position in shares of Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after buying an additional 2,011,810 shares during the period. Wellington Management Group LLP raised its position in Marathon Petroleum by 18.7% during the first 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 buying an additional 1,862,674 shares during the period. Nuveen LLC purchased a new stake in Marathon Petroleum in the 1st quarter worth about $147,122,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Marathon Petroleum by 26.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock worth $535,465,000 after acquiring an additional 769,015 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MPC. Raymond James Financial set a $200.00 target price on Marathon Petroleum in a report on Tuesday, November 4th. Evercore ISI boosted their price objective on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. Morgan Stanley lifted their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Finally, Piper Sandler upped their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $200.00.

Insider Activity

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on 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 transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $196.60 on Thursday. The stock has a market capitalization of $59.10 billion, a P/E ratio of 20.96, a P/E/G ratio of 3.88 and a beta of 0.90. The business has a 50-day moving average of $188.94 and a two-hundred day moving average of $173.44. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $202.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The business had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. On average, equities research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is currently 38.81%.

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.