Marathon Petroleum Corporation $MPC Shares Purchased by Calamos Advisors LLC

Calamos Advisors LLC increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 319,159 shares of the oil and gas company’s stock after acquiring an additional 5,955 shares during the period. Calamos Advisors LLC’s holdings in Marathon Petroleum were worth $77,932,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Marathon Petroleum by 0.3% during the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after acquiring an additional 47,896 shares during the period. Boston Partners boosted its position in Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after purchasing an additional 141,691 shares in the last quarter. Norges Bank acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $472,312,000. Charles Schwab Investment Management Inc. grew its position in shares of Marathon Petroleum by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock valued at $458,350,000 after purchasing an additional 11,693 shares during the last quarter. Finally, Invesco Ltd. increased its position in Marathon Petroleum by 2.7% during the fourth quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company’s stock worth $422,869,000 after buying an additional 67,600 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Citigroup raised their price objective on Marathon Petroleum from $243.00 to $257.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 6th. UBS Group restated a “buy” rating and issued a $321.00 price target on shares of Marathon Petroleum in a report on Friday. Finally, The Goldman Sachs Group upped their price objective on shares of Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $280.69.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 4.6%

MPC stock opened at $296.89 on Tuesday. The firm has a market cap of $86.67 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 0.41 and a beta of 0.52. Marathon Petroleum Corporation has a 1-year low of $158.00 and a 1-year high of $299.05. The firm has a fifty day moving average price of $257.78 and a two-hundred day moving average price of $223.82. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. Marathon Petroleum’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.24) earnings per share. Research analysts predict that Marathon Petroleum Corporation will post 32.96 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.3%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.11%.

About Marathon Petroleum

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.