Apollon Wealth Management LLC Has $1.48 Million Stake in Marathon Petroleum Corporation (NYSE:MPC)

Apollon Wealth Management LLC trimmed its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 12.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,177 shares of the oil and gas company's stock after selling 1,489 shares during the period. Apollon Wealth Management LLC's holdings in Marathon Petroleum were worth $1,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Financial Group Inc. acquired a new position in Marathon Petroleum in the 4th quarter worth $5,624,000. Good Steward Wealth Advisors LLC acquired a new position in Marathon Petroleum in the 1st quarter worth $346,000. New Age Alpha Advisors LLC acquired a new position in Marathon Petroleum in the 4th quarter worth $1,192,000. Silver Oak Securities Incorporated acquired a new position in Marathon Petroleum in the 1st quarter worth $339,000. Finally, Financial Partners Group LLC lifted its holdings in Marathon Petroleum by 65.8% in the 1st quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock worth $574,000 after buying an additional 1,563 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MPC shares. Citigroup boosted their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Evercore ISI started coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target on the stock. Raymond James Financial cut shares of Marathon Petroleum from a "strong-buy" rating to an "outperform" rating and increased their price target for the stock from $180.00 to $200.00 in a research report on Tuesday. Finally, Mizuho increased their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $184.53.

Insiders Place Their Bets

In related news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.21% of the company's stock.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock traded up $0.17 on Friday, hitting $174.34. The company had a trading volume of 2,623,698 shares, compared to its average volume of 2,712,772. The business has a 50-day simple moving average of $166.05 and a 200-day simple moving average of $150.97. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The company has a market cap of $53.56 billion, a PE ratio of 24.52, a PEG ratio of 3.34 and a beta of 0.88. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business's revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm posted $2.58 earnings per share. Research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's payout ratio is 51.20%.

Marathon Petroleum Company 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.