Axxcess Wealth Management LLC Buys 4,904 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Axxcess Wealth Management increased its Marathon Petroleum stake by 51.9% in the fourth quarter, adding 4,904 shares for a total of 14,345 shares valued at about $2.33 million.
• Marathon Petroleum reported strong quarterly results, with EPS of $1.65 beating estimates by a wide margin and revenue of $34.2 billion topping expectations; revenue also rose 8.5% year over year.
• The company announced a quarterly dividend of $1.00 per share, implying an annualized payout of $4.00 and a 1.6% yield, while analysts remain broadly positive with a consensus rating of Moderate Buy.

Axxcess Wealth Management LLC boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 51.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,345 shares of the oil and gas company's stock after acquiring an additional 4,904 shares during the quarter. Axxcess Wealth Management LLC's holdings in Marathon Petroleum were worth $2,333,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Navalign LLC bought a new stake in Marathon Petroleum during the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum during the 4th quarter worth approximately $31,000. Berbice Capital Management LLC grew its holdings in Marathon Petroleum by 100.0% during the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 100 shares during the last quarter. WFA of San Diego LLC bought a new stake in Marathon Petroleum during the 2nd quarter worth approximately $33,000. Finally, Ares Financial Consulting LLC bought a new stake in Marathon Petroleum during the 4th quarter worth approximately $34,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Performance

MPC opened at $255.22 on Monday. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The company's fifty day moving average price is $238.34 and its two-hundred day moving average price is $205.68. Marathon Petroleum Corporation has a 1-year low of $155.93 and a 1-year high of $264.14. The company has a market cap of $74.51 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.33 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the prior year, the company posted ($0.24) earnings per share. The business's revenue was up 8.5% on a year-over-year basis. On average, analysts expect that Marathon Petroleum Corporation will post 29.67 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.6%. Marathon Petroleum's dividend payout ratio is presently 26.11%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,810 shares of the company's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total transaction of $406,851.80. Following the transaction, the insider owned 10,188 shares in the company, valued at approximately $2,290,058.64. This represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 4,473 shares of company stock worth $1,015,428 in the last 90 days. Corporate insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MPC. Morgan Stanley boosted their target price on shares of Marathon Petroleum from $200.00 to $233.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $264.00 to $291.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. BMO Capital Markets upped their price objective on shares of Marathon Petroleum from $255.00 to $290.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Finally, Mizuho upped their price objective on shares of Marathon Petroleum from $205.00 to $224.00 and gave the company a "neutral" rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $259.44.

Marathon Petroleum Company Profile

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.

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