Marathon Petroleum Corporation $MPC Stock Holdings Lessened by Axecap Investments LLC

Key Points

• Axecap Investments LLC cut its Marathon Petroleum stake by 62.1% in the third quarter, selling 11,474 shares and retaining 7,009 shares worth approximately $2.77 million. Institutional investors and hedge funds collectively own 76.77% of MPC.
• Analysts maintain a favorable outlook, with one Strong Buy, eleven Buy, and five Hold ratings. The consensus rating is “Moderate Buy”, with an average price target of $417.88.
• Marathon Petroleum reported quarterly EPS of $17.73, exceeding estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion. Shares opened at $474.78, near the company’s one-year high of $493.98, and the company pays a $1.00 quarterly dividend.

Axecap Investments LLC trimmed its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 62.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,009 shares of the oil and gas company's stock after selling 11,474 shares during the quarter. Marathon Petroleum makes up 1.7% of Axecap Investments LLC's holdings, making the stock its 22nd largest holding. Axecap Investments LLC's holdings in Marathon Petroleum were worth $2,771,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Solstein Capital LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $26,000. Caitlin John LLC purchased a new position in Marathon Petroleum in the 2nd quarter worth about $26,000. Bell Investment Advisors Inc purchased a new position in Marathon Petroleum in the 2nd quarter worth about $27,000. Cetera Trust Company N.A acquired a new stake in Marathon Petroleum during the 2nd quarter worth about $35,000. Finally, Frazier Financial Advisors LLC acquired a new stake in Marathon Petroleum during the 2nd quarter worth about $36,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MPC. Evercore set a $330.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, August 5th. Bank of America raised their price objective on Marathon Petroleum from $410.00 to $426.00 and gave the stock a "neutral" rating in a research report on Friday, October 2nd. Piper Sandler lifted their target price on Marathon Petroleum from $344.00 to $462.00 and gave the company an "overweight" rating in a research note on Thursday, September 3rd. TD Cowen lifted their target price on Marathon Petroleum from $357.00 to $375.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group upped their target price on Marathon Petroleum from $376.00 to $472.00 and gave the company a "buy" rating in a report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $417.88.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares of the company's stock, valued at $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the transaction, the vice president owned 1,576 shares in the company, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $474.78 on Wednesday. The business's 50-day moving average price is $403.53 and its two-hundred day moving average price is $312.67. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $493.98. The company has a market capitalization of $138.61 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 0.14 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The company had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same period in the prior year, the firm posted $3.96 EPS. The business's revenue was up 53.5% compared to the same quarter last year. Analysts anticipate that Marathon Petroleum Corporation will post 62.78 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 0.8%. Marathon Petroleum's payout ratio is presently 13.75%.

About Marathon Petroleum

Marathon Petroleum Corporation NYSE: MPC is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum's refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.

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