Calamos Wealth Management LLC cut its holdings in Marathon Petroleum Corp (NYSE:MPC) by 10.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,737 shares of the oil and gas company’s stock after selling 4,958 shares during the period. Calamos Wealth Management LLC’s holdings in Marathon Petroleum were worth $2,688,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Assetmark Inc. grew its holdings in Marathon Petroleum by 13.9% during the fourth quarter. Assetmark Inc. now owns 6,674 shares of the oil and gas company’s stock valued at $440,000 after purchasing an additional 815 shares during the period. Pettyjohn Wood & White Inc. bought a new position in Marathon Petroleum during the fourth quarter valued at $206,000. Carnegie Capital Asset Management LLC grew its holdings in Marathon Petroleum by 32.2% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 12,719 shares of the oil and gas company’s stock valued at $828,000 after purchasing an additional 3,096 shares during the period. Good Life Advisors LLC grew its holdings in Marathon Petroleum by 13.6% during the fourth quarter. Good Life Advisors LLC now owns 7,511 shares of the oil and gas company’s stock valued at $522,000 after purchasing an additional 902 shares during the period. Finally, Barometer Capital Management Inc. grew its holdings in Marathon Petroleum by 63.1% during the fourth quarter. Barometer Capital Management Inc. now owns 268,750 shares of the oil and gas company’s stock valued at $17,732,000 after purchasing an additional 103,950 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.
Shares of Marathon Petroleum Corp (MPC) opened at $65.60 on Wednesday. The stock has a market capitalization of $32,040.00, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.50. Marathon Petroleum Corp has a 12-month low of $47.78 and a 12-month high of $73.53. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.46 per share. The ex-dividend date is Tuesday, February 20th. This represents a $1.84 annualized dividend and a dividend yield of 2.80%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s dividend payout ratio is currently 57.50%.
In other Marathon Petroleum news, insider Thomas M. Kelley sold 35,604 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $64.75, for a total transaction of $2,305,359.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP C. Michael Palmer sold 17,298 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $64.55, for a total value of $1,116,585.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,276 shares of company stock worth $3,835,809. Company insiders own 1.05% of the company’s stock.
MPC has been the subject of several research reports. ValuEngine raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Credit Suisse Group initiated coverage on Marathon Petroleum in a report on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 price objective for the company. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Friday, November 10th. Barclays reissued a “buy” rating and set a $90.00 price objective on shares of Marathon Petroleum in a report on Friday, February 16th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $90.00 price objective on shares of Marathon Petroleum in a report on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Marathon Petroleum presently has a consensus rating of “Buy” and an average price target of $77.58.
Marathon Petroleum Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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