Axxcess Wealth Management LLC Increases Position in Marathon Petroleum Corporation $MPC

Axxcess Wealth Management LLC boosted its position in Marathon Petroleum Corporation (NYSE:MPC) by 43.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,441 shares of the oil and gas company’s stock after acquiring an additional 2,848 shares during the period. Axxcess Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,820,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MPC shares. The Goldman Sachs Group boosted their price objective on shares of Marathon Petroleum from $204.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research report on Thursday, January 22nd. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. TD Cowen lifted their target price on shares of Marathon Petroleum from $183.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, Piper Sandler lowered their price target on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.19.

Marathon Petroleum Stock Down 1.5%

Shares of Marathon Petroleum 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. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $210.32. The business has a 50-day moving average of $179.66 and a 200-day moving average of $182.95. The company 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 issued its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a return on equity of 14.00% and a net margin of 2.99%.The firm had revenue of $35.10 billion during the quarter, compared to analyst estimates of $30.89 billion. During the same quarter last year, the firm earned $0.77 EPS. Marathon Petroleum’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $4.00 annualized dividend and a yield of 2.0%. Marathon Petroleum’s dividend payout ratio is currently 29.96%.

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.