Axxcess Wealth Management LLC Boosts Stock Position in Marathon Petroleum Corporation $MPC

Axxcess Wealth Management LLC boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 43.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,441 shares of the oil and gas company’s stock after acquiring an additional 2,848 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Drucker Wealth 3.0 LLC purchased a new position in Marathon Petroleum in the 3rd quarter valued at $287,000. Turn8 Private Wealth Inc. boosted its holdings in shares of Marathon Petroleum by 4.1% in the third quarter. Turn8 Private Wealth Inc. now owns 20,787 shares of the oil and gas company’s stock valued at $4,006,000 after acquiring an additional 812 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in shares of Marathon Petroleum by 14.9% during the third quarter. Crestwood Advisors Group LLC now owns 1,775 shares of the oil and gas company’s stock worth $342,000 after acquiring an additional 230 shares during the period. NEOS Investment Management LLC raised its holdings in Marathon Petroleum by 1.3% during the third quarter. NEOS Investment Management LLC now owns 33,825 shares of the oil and gas company’s stock worth $6,519,000 after purchasing an additional 432 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its position in Marathon Petroleum by 3.4% in the third quarter. Wealthcare Advisory Partners LLC now owns 7,115 shares of the oil and gas company’s stock valued at $1,371,000 after purchasing an additional 233 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on MPC shares. Jefferies Financial Group reduced their price target on Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a report on Monday, January 26th. UBS Group reissued a “buy” rating and issued a $221.00 target price on shares of Marathon Petroleum in a report on Friday, February 6th. Piper Sandler decreased their target price on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $213.00 to $217.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $202.19.

Marathon Petroleum Stock Down 1.5%

MPC stock opened at $196.54 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The company’s 50 day simple moving average is $179.66 and its 200-day simple moving average is $182.95. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $210.32. The firm has a market capitalization of $59.08 billion, a PE ratio of 14.72, a P/E/G ratio of 1.29 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. The firm had revenue of $35.10 billion for the quarter, compared to analyst estimates of $30.89 billion. Marathon Petroleum had a return on equity of 14.00% and a net margin of 2.99%.Marathon Petroleum’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, February 18th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 29.96%.

Marathon Petroleum Company Profile

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.