Marathon Petroleum said on January 27, 2023 that its board of directors declared a regular quarterly dividend of $0.75 per share ($3.00 annualized). Shareholders of record as of February 15, 2023 will receive the payment on March 10, 2023. Previously, the company paid $0.75 per share.
At the current share price of $128.52 / share, the stock's dividend yield is 2.33%. Looking back five years and taking a sample every week, the average dividend yield has been 3.95%, the lowest has been 2.04%, and the highest has been 13.96%. The standard deviation of yields is 1.80 (n=236).
The current dividend yield is 0.90 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.29%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 7.82% Upside
As of February 1, 2023, the average one-year price target for Marathon Petroleum is $138.57. The forecasts range from a low of $126.25 to a high of $157.50. The average price target represents an increase of 7.82% from its latest reported closing price of $128.52.
The projected annual revenue for Marathon Petroleum is $142,064MM, a decrease of 20.29%. The projected annual EPS is $14.79, a decrease of 47.77%.
Fund Sentiment
There are 2202 funds or institutions reporting positions in Marathon Petroleum. This is an increase of 80 owner(s) or 3.77%.
Average portfolio weight of all funds dedicated to US:MPC is 0.4243%, an increase of 8.8138%. Total shares owned by institutions decreased in the last three months by 7.34% to 404,185K shares.
What are large shareholders doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 14,869,040 shares representing 3.17% ownership of the company. In it's prior filing, the firm reported owning 15,932,778 shares, representing a decrease of 7.15%. The firm increased its portfolio allocation in MPC by 17.54% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 14,567,417 shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 15,117,811 shares, representing a decrease of 3.78%. The firm increased its portfolio allocation in MPC by 17.27% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 11,304,138 shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 11,973,488 shares, representing a decrease of 5.92%. The firm increased its portfolio allocation in MPC by 17.96% over the last quarter.
Elliott Investment Management holds 11,065,000 shares representing 2.36% ownership of the company. No change in the last quarter.
Bank of New York Mellon holds 9,179,751 shares representing 1.96% ownership of the company. In it's prior filing, the firm reported owning 11,022,754 shares, representing a decrease of 20.08%. The firm decreased its portfolio allocation in MPC by 52.17% over the last quarter.
Marathon Petroleum Background Information
(This description is provided by the company.)
Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the United States. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
