Apollon Wealth Management LLC Grows Stock Holdings in Marathon Petroleum Corporation $MPC

Apollon Wealth Management LLC grew its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 6.0% during the second quarter, HoldingsChannel reports. The firm owned 10,791 shares of the oil and gas company’s stock after acquiring an additional 614 shares during the period. Apollon Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,793,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Fifth Third Wealth Advisors LLC lifted its stake in Marathon Petroleum by 4.7% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 10,465 shares of the oil and gas company’s stock worth $1,738,000 after purchasing an additional 470 shares in the last quarter. Trust Co. of Toledo NA OH lifted its stake in Marathon Petroleum by 9.3% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 5,109 shares of the oil and gas company’s stock worth $849,000 after purchasing an additional 436 shares in the last quarter. Aberdeen Group plc lifted its stake in Marathon Petroleum by 4.4% in the 2nd quarter. Aberdeen Group plc now owns 145,842 shares of the oil and gas company’s stock worth $24,307,000 after purchasing an additional 6,083 shares in the last quarter. PDS Planning Inc lifted its stake in Marathon Petroleum by 8.2% in the 2nd quarter. PDS Planning Inc now owns 3,011 shares of the oil and gas company’s stock worth $500,000 after purchasing an additional 227 shares in the last quarter. Finally, Callan Family Office LLC increased its holdings in shares of Marathon Petroleum by 156.8% during the 2nd quarter. Callan Family Office LLC now owns 8,466 shares of the oil and gas company’s stock worth $1,406,000 after buying an additional 5,169 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Molly R. Benson sold 10,879 shares of the business’s 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 completion of the sale, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MPC has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Mizuho lifted their target price on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Evercore ISI boosted their price target on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. Finally, Wells Fargo & Company boosted their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.31.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $183.36 on Tuesday. The stock has a market cap of $55.75 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 3.04 and a beta of 0.90. The company has a fifty day simple moving average of $179.03 and a 200-day simple moving average of $163.99. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.12 EPS. Equities analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum’s payout ratio is 54.01%.

Marathon Petroleum 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.