Calamos Advisors LLC Sells 5,041 Shares of Marathon Petroleum Co. (NYSE:MPC)

Calamos Advisors LLC trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 240,737 shares of the oil and gas company’s stock after selling 5,041 shares during the period. Calamos Advisors LLC’s holdings in Marathon Petroleum were worth $41,763,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MPC. Norges Bank bought a new position in Marathon Petroleum in the 4th quarter worth $500,685,000. Granite Bay Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $219,537,000. Capital Wealth Planning LLC grew its stake in shares of Marathon Petroleum by 10,902.9% during the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after acquiring an additional 1,100,536 shares during the period. Assenagon Asset Management S.A. increased its holdings in Marathon Petroleum by 980.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after acquiring an additional 621,336 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Marathon Petroleum by 309.9% during the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after purchasing an additional 486,573 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MPC shares. Mizuho reduced their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Piper Sandler decreased their price target on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Raymond James dropped their price objective on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 30th. Wolfe Research assumed coverage on Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.38.

Marathon Petroleum Trading Up 2.1 %

Shares of MPC stock traded up $3.53 on Friday, reaching $175.31. 1,995,981 shares of the company’s stock were exchanged, compared to its average volume of 2,629,847. The company’s fifty day simple moving average is $171.50 and its 200 day simple moving average is $180.22. The stock has a market capitalization of $61.77 billion, a PE ratio of 8.76, a P/E/G ratio of 2.09 and a beta of 1.40. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.32 earnings per share. As a group, analysts forecast that Marathon Petroleum Co. will post 13.84 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum declared that its Board of Directors has initiated a stock buyback program on Tuesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About Marathon Petroleum

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.