Calamos Advisors LLC Acquires 5,955 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Calamos Advisors LLC increased its Marathon Petroleum stake by 1.9% in the first quarter, buying 5,955 additional shares to bring its total holding to 319,159 shares valued at about $77.9 million.
• Wall Street remains broadly positive on MPC, with 10 analysts rating it a Buy and 8 a Hold; the consensus view is a “Moderate Buy” with a target price of $280.69.
• Marathon Petroleum reported strong quarterly results, posting $1.65 EPS versus $0.74 expected and revenue of $34.2 billion, while also paying a $1.00 quarterly dividend that implies a 1.3% yield.

Calamos Advisors LLC lifted its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 owned 0.11% of Marathon Petroleum worth $77,932,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at $472,312,000. Capital Wealth Planning LLC lifted its stake in Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company's stock valued at $245,157,000 after acquiring an additional 1,495,097 shares during the period. Pacer Advisors Inc. grew its position in Marathon Petroleum by 3,816.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company's stock worth $212,517,000 after purchasing an additional 1,273,386 shares during the period. GHE LLC grew its holdings in Marathon Petroleum by 1,939.8% during the first quarter. GHE LLC now owns 649,542 shares of the oil and gas company's stock worth $158,605,000 after acquiring an additional 617,699 shares during the period. Finally, Man Group plc grew its stake in shares of Marathon Petroleum by 2,175.0% during the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company's stock worth $92,502,000 after purchasing an additional 543,788 shares during the period. Hedge funds and other institutional investors own 76.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MPC. The Goldman Sachs Group raised their target price on Marathon Petroleum from $264.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. TD Cowen reduced their target price on shares of Marathon Petroleum from $320.00 to $315.00 and set a "buy" rating for the company in a research report on Monday, June 29th. Morgan Stanley boosted their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Mizuho increased their price target on shares of Marathon Petroleum from $224.00 to $284.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $280.69.

Insiders Place Their Bets

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 shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company's stock.

Marathon Petroleum Stock Up 4.6%

Shares of NYSE MPC opened at $296.89 on Tuesday. The business's fifty day simple moving average is $257.78 and its 200-day simple moving average is $223.82. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The stock has a market cap of $86.67 billion, a P/E ratio of 19.38, a PEG ratio of 0.41 and a beta of 0.52. Marathon Petroleum Corporation has a 12-month low of $158.00 and a 12-month high of $299.05.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same period in the prior year, the firm earned ($0.24) earnings per share. The business's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts predict that Marathon Petroleum Corporation will post 32.96 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. Marathon Petroleum's dividend payout ratio is presently 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.

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