Calamos Wealth Management LLC Raises Position in Marathon Petroleum Corporation $MPC

Calamos Wealth Management LLC lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 17.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,472 shares of the oil and gas company’s stock after purchasing an additional 814 shares during the period. Calamos Wealth Management LLC’s holdings in Marathon Petroleum were worth $909,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MPC. Vanguard Group Inc. increased its stake in shares of Marathon Petroleum by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after purchasing an additional 3,834,501 shares during the last quarter. Boston Partners increased its stake in shares of Marathon Petroleum by 58.5% during the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after purchasing an additional 2,011,810 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter worth approximately $147,122,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Marathon Petroleum by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock valued at $535,465,000 after buying an additional 769,015 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction 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 approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Marathon Petroleum Stock Up 1.7%

Shares of NYSE:MPC opened at $184.14 on Monday. The firm has a fifty day moving average price of $180.61 and a two-hundred day moving average price of $165.13. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61. The company has a market cap of $55.98 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.87 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same period last year, the firm earned $4.12 EPS. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. Analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MPC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Raymond James Financial reiterated an “outperform” rating and issued a $203.00 price objective (up from $199.00) on shares of Marathon Petroleum in a research note on Friday. Mizuho lifted their price objective on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Finally, Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $200.31.

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.