Apollon Wealth Management LLC Has $1.80 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Apollon Wealth Management LLC increased its position in Marathon Petroleum Co. (NYSE:MPC) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,120 shares of the oil and gas company’s stock after buying an additional 4,038 shares during the period. Apollon Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,798,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aspire Private Capital LLC raised its stake in shares of Marathon Petroleum by 4.4% during the 3rd quarter. Aspire Private Capital LLC now owns 3,456 shares of the oil and gas company’s stock worth $523,000 after purchasing an additional 145 shares during the period. First Horizon Advisors Inc. increased its position in shares of Marathon Petroleum by 8.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,174 shares of the oil and gas company’s stock valued at $174,000 after purchasing an additional 96 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Marathon Petroleum by 3.2% during the 4th quarter. Allworth Financial LP now owns 10,899 shares of the oil and gas company’s stock valued at $1,617,000 after purchasing an additional 340 shares during the last quarter. Brandywine Global Investment Management LLC lifted its stake in shares of Marathon Petroleum by 9.1% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 579,841 shares of the oil and gas company’s stock valued at $87,753,000 after acquiring an additional 48,540 shares during the last quarter. Finally, Intrust Bank NA boosted its holdings in shares of Marathon Petroleum by 1.7% during the fourth quarter. Intrust Bank NA now owns 5,786 shares of the oil and gas company’s stock worth $858,000 after purchasing an additional 98 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the transaction, the director now directly owns 23,446 shares in the company, valued at approximately $3,994,026.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Mizuho reduced their price objective on Marathon Petroleum from $202.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price objective on Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. TD Cowen lifted their target price on Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Piper Sandler raised their price target on Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, The Goldman Sachs Group raised their price objective on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.62.

Marathon Petroleum Stock Up 0.3 %

MPC traded up $0.54 on Wednesday, hitting $181.46. The company had a trading volume of 386,398 shares, compared to its average volume of 2,736,301. Marathon Petroleum Co. has a 12-month low of $104.32 and a 12-month high of $221.11. The stock has a fifty day moving average price of $194.58 and a 200-day moving average price of $168.73. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The stock has a market capitalization of $63.93 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 1.52 and a beta of 1.55.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. During the same period last year, the firm posted $6.09 EPS. Marathon Petroleum’s revenue for the quarter was down 6.2% compared to the same quarter last year. Analysts predict that Marathon Petroleum Co. will post 19.96 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

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.