Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 33.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 8,716 shares of the oil and gas company’s stock after selling 4,415 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,512,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MPC. Granite Bay Wealth Management LLC acquired a new stake in Marathon Petroleum in the second quarter valued at approximately $219,537,000. Capital Wealth Planning LLC raised its holdings in shares of Marathon Petroleum by 10,902.9% in the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after buying an additional 1,100,536 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Marathon Petroleum by 980.3% in the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after buying an additional 621,336 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Marathon Petroleum by 309.9% in the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after buying an additional 486,573 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of Marathon Petroleum by 64.1% in the second quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after buying an additional 241,746 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

MPC opened at $164.67 on Thursday. The firm has a market capitalization of $58.02 billion, a PE ratio of 8.23, a PEG ratio of 2.09 and a beta of 1.38. Marathon Petroleum Co. has a twelve month low of $139.32 and a twelve month high of $221.11. The firm’s 50-day moving average price is $169.97 and its 200 day moving average price is $179.93. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. Marathon Petroleum’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.32 EPS. As a group, sell-side analysts expect that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.00%. Marathon Petroleum’s payout ratio is 16.48%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays decreased their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Raymond James reduced their target price on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a report on Thursday, May 30th. Wolfe Research began coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 target price for the company. Mizuho reduced their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday. Finally, Wells Fargo & Company reduced their target price on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $199.46.

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.