Apollon Wealth Management LLC Grows Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Apollon Wealth Management LLC lifted its stake in Marathon Petroleum Co. (NYSE:MPCGet Rating) by 86.6% in the second quarter, HoldingsChannel reports. The firm owned 4,879 shares of the oil and gas company’s stock after acquiring an additional 2,264 shares during the quarter. Apollon Wealth Management LLC’s holdings in Marathon Petroleum were worth $401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Credit Agricole S A purchased a new position in Marathon Petroleum in the second quarter valued at $25,000. Herold Advisors Inc. purchased a new stake in Marathon Petroleum during the 1st quarter worth about $26,000. Moisand Fitzgerald Tamayo LLC purchased a new stake in Marathon Petroleum during the 2nd quarter worth about $29,000. Hazlett Burt & Watson Inc. purchased a new stake in Marathon Petroleum during the 1st quarter worth about $30,000. Finally, JFS Wealth Advisors LLC lifted its holdings in Marathon Petroleum by 49.8% during the 2nd quarter. JFS Wealth Advisors LLC now owns 376 shares of the oil and gas company’s stock worth $31,000 after buying an additional 125 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In related news, SVP Suzanne Gagle sold 35,174 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $93.57, for a total value of $3,291,231.18. Following the transaction, the senior vice president now owns 43,996 shares in the company, valued at approximately $4,116,705.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Marathon Petroleum news, CEO Michael J. Hennigan sold 100,000 shares of Marathon Petroleum stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $121.75, for a total value of $12,175,000.00. Following the sale, the chief executive officer now owns 296,826 shares of the company’s stock, valued at approximately $36,138,565.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Suzanne Gagle sold 35,174 shares of Marathon Petroleum stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $93.57, for a total value of $3,291,231.18. Following the completion of the sale, the senior vice president now directly owns 43,996 shares in the company, valued at approximately $4,116,705.72. The disclosure for this sale can be found here. Insiders have sold 247,244 shares of company stock worth $28,908,270 in the last quarter. Company insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MPC shares. Cowen lifted their price target on Marathon Petroleum to $129.00 in a report on Tuesday, September 20th. Barclays lifted their price target on Marathon Petroleum from $112.00 to $126.00 and gave the stock an “overweight” rating in a report on Monday, October 10th. Wells Fargo & Company lifted their price target on Marathon Petroleum from $116.00 to $131.00 in a report on Thursday, November 3rd. Raymond James lifted their target price on Marathon Petroleum from $133.00 to $140.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 11th. Finally, Piper Sandler lifted their target price on Marathon Petroleum from $111.00 to $153.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 9th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average price target of $124.71.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $125.60 on Thursday. The stock has a market capitalization of $58.86 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 0.21 and a beta of 1.61. Marathon Petroleum Co. has a 52-week low of $59.55 and a 52-week high of $127.35. The stock’s 50-day moving average price is $108.80 and its 200 day moving average price is $99.63. The company has a quick ratio of 1.19, a current ratio of 1.66 and a debt-to-equity ratio of 0.78.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Wednesday, November 16th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.39%. The ex-dividend date is Tuesday, November 15th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.58. Marathon Petroleum’s payout ratio is 13.18%.

Marathon Petroleum Profile

(Get Rating)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

See Also

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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