Axxcess Wealth Management LLC Grows Holdings in Marathon Petroleum Co. (NYSE:MPC)

Axxcess Wealth Management LLC raised its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.0% in the 1st quarter, Holdings Channel reports. The fund owned 13,131 shares of the oil and gas company’s stock after acquiring an additional 384 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Marathon Petroleum were worth $2,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MPC. CreativeOne Wealth LLC raised its position in Marathon Petroleum by 169.7% in the first quarter. CreativeOne Wealth LLC now owns 7,623 shares of the oil and gas company’s stock worth $1,536,000 after acquiring an additional 4,797 shares in the last quarter. Delap Wealth Advisory LLC raised its position in Marathon Petroleum by 54.4% during the first quarter. Delap Wealth Advisory LLC now owns 2,695 shares of the oil and gas company’s stock worth $543,000 after acquiring an additional 949 shares during the last quarter. Shell Asset Management Co. grew its position in shares of Marathon Petroleum by 65.9% in the first quarter. Shell Asset Management Co. now owns 5,067 shares of the oil and gas company’s stock valued at $1,021,000 after purchasing an additional 2,012 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter worth $29,000. Finally, Natixis grew its holdings in Marathon Petroleum by 1,191.3% in the 1st quarter. Natixis now owns 2,983 shares of the oil and gas company’s stock valued at $601,000 after buying an additional 2,752 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Jefferies Financial Group boosted their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Barclays cut their target price on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Piper Sandler lowered their price target on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Finally, Tudor Pickering raised Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $193.64.

Marathon Petroleum Stock Up 0.7 %

MPC traded up $1.15 on Friday, reaching $172.65. The company’s stock had a trading volume of 1,616,235 shares, compared to its average volume of 2,678,637. Marathon Petroleum Co. has a 1 year low of $128.07 and a 1 year high of $221.11. The business’s 50 day moving average is $171.94 and its 200 day moving average is $177.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The stock has a market cap of $60.83 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share 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 business had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. During the same quarter last year, the company earned $6.09 earnings per share. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, research analysts forecast that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum announced that its board has initiated a stock buyback plan on Tuesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.