Axxcess Wealth Management LLC Sells 4,415 Shares of Marathon Petroleum Co. (NYSE:MPC)

Axxcess Wealth Management LLC lessened its stake in Marathon Petroleum Co. (NYSE:MPC) by 33.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,716 shares of the oil and gas company’s stock after selling 4,415 shares during the period. Axxcess Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,512,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MPC. Granite Bay Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the 2nd quarter worth $219,537,000. Capital Wealth Planning LLC lifted its stake in Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after purchasing an additional 1,100,536 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Marathon Petroleum by 980.3% in the 2nd 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 increased its holdings in shares of Marathon Petroleum by 309.9% in the 4th 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. increased its holdings in shares of Marathon Petroleum by 64.1% in the 2nd 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. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

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

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

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.00%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. TD Cowen increased their price objective on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $199.46.

Marathon Petroleum 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.