Calamos Advisors LLC Acquires 59,238 Shares of Marathon Petroleum Corporation $MPC

Calamos Advisors LLC boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 21.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 335,232 shares of the oil and gas company’s stock after purchasing an additional 59,238 shares during the quarter. Calamos Advisors LLC owned about 0.11% of Marathon Petroleum worth $55,685,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after acquiring an additional 1,178 shares during the period. Stephens Inc. AR grew its position in shares of Marathon Petroleum by 5.6% in the first quarter. Stephens Inc. AR now owns 8,996 shares of the oil and gas company’s stock valued at $1,311,000 after purchasing an additional 477 shares during the last quarter. CWM LLC increased its stake in shares of Marathon Petroleum by 6.6% during the first quarter. CWM LLC now owns 25,617 shares of the oil and gas company’s stock worth $3,732,000 after purchasing an additional 1,591 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Marathon Petroleum by 77.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,692 shares of the oil and gas company’s stock worth $247,000 after purchasing an additional 737 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Marathon Petroleum by 26.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 20,545 shares of the oil and gas company’s stock valued at $2,993,000 after purchasing an additional 4,259 shares during the period. 76.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $196.60 on Thursday. The company has a 50 day moving average of $188.94 and a 200-day moving average of $173.44. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $202.25. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The company has a market cap of $59.10 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 3.88 and a beta of 0.90.

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

Marathon Petroleum Increases Dividend

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

Analysts Set New Price Targets

Several research firms have weighed in on MPC. TD Cowen lowered their price objective on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Mizuho raised their price target on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. BMO Capital Markets boosted their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Barclays increased their target price on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. Finally, Piper Sandler lifted their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, September 11th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $200.00.

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.