Axxcess Wealth Management LLC Sells 252 Shares of Marathon Petroleum Co. (NYSE:MPC)

Axxcess Wealth Management LLC trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,731 shares of the oil and gas company’s stock after selling 252 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Marathon Petroleum were worth $939,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $27,000. True Wealth Design LLC increased its position in Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Asset Planning Inc purchased a new stake in Marathon Petroleum during the fourth quarter valued at $28,000. Sierra Ocean LLC bought a new position in Marathon Petroleum during the fourth quarter valued at $31,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 3rd quarter worth $33,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ricky D. Hessling bought 2,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the transaction, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. The trade was a 19.68 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the transaction, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on MPC shares. Raymond James increased their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. TD Cowen reiterated a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, Barclays increased their target price on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $182.13.

Marathon Petroleum Stock Up 1.6 %

Shares of NYSE MPC opened at $151.93 on Friday. The stock has a 50 day moving average price of $148.90 and a 200 day moving average price of $152.51. The firm has a market capitalization of $47.33 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.98 EPS. Sell-side analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.40%. Marathon Petroleum’s payout ratio is presently 36.66%.

About Marathon Petroleum

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.