Calamos Advisors LLC lowered its stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 313,204 shares of the oil and gas company’s stock after selling 23,002 shares during the period. Calamos Advisors LLC owned approximately 0.10% of Marathon Petroleum worth $50,936,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Associated Banc Corp increased its position in shares of Marathon Petroleum by 2.1% during the third quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock valued at $477,000 after buying an additional 52 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in Marathon Petroleum by 0.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 10,287 shares of the oil and gas company’s stock valued at $1,673,000 after acquiring an additional 57 shares in the last quarter. Legacy Bridge LLC boosted its position in Marathon Petroleum by 12.5% during the 4th quarter. Legacy Bridge LLC now owns 523 shares of the oil and gas company’s stock valued at $85,000 after acquiring an additional 58 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of Marathon Petroleum by 2.6% during the 3rd quarter. CoreCap Advisors LLC now owns 2,363 shares of the oil and gas company’s stock worth $456,000 after acquiring an additional 59 shares during the period. Finally, CI Investments Inc. grew its holdings in shares of Marathon Petroleum by 1.8% during the 3rd quarter. CI Investments Inc. now owns 3,336 shares of the oil and gas company’s stock worth $643,000 after acquiring an additional 60 shares during the period. Institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Price Performance
Shares of Marathon Petroleum stock opened at $224.19 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.27. The firm has a market cap of $66.02 billion, a PE ratio of 16.79, a P/E/G ratio of 0.37 and a beta of 0.58. Marathon Petroleum Corporation has a twelve month low of $133.00 and a twelve month high of $255.77. The business has a 50-day moving average price of $222.98 and a 200 day moving average price of $197.96.
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The firm had revenue of $32.57 billion for the quarter, compared to the consensus estimate of $30.89 billion. During the same period last year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts predict that Marathon Petroleum Corporation will post 23.42 earnings per share for the current fiscal year.
Marathon Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, February 18th. Marathon Petroleum’s payout ratio is currently 29.96%.
Insider Transactions at Marathon Petroleum
In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,810 shares of Marathon Petroleum stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total value of $406,851.80. Following the transaction, the insider directly owned 10,188 shares in the company, valued at approximately $2,290,058.64. The trade was a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 4,473 shares of company stock valued at $1,015,428 in the last three months. Corporate insiders own 0.17% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on MPC. Morgan Stanley raised their price target on Marathon Petroleum from $200.00 to $233.00 and gave the company an “overweight” rating in a report on Friday. Raymond James Financial increased their price target on Marathon Petroleum from $210.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. UBS Group lifted their target price on Marathon Petroleum from $221.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Piper Sandler upped their price objective on Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, April 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $241.81.
Check Out Our Latest Report on MPC
Marathon Petroleum Company Profile
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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