Axecap Investments LLC Purchases New Shares in Marathon Petroleum Co. (NYSE:MPC)

Axecap Investments LLC purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,012 shares of the oil and gas company’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. FinTrust Capital Advisors LLC grew its position in shares of Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Crewe Advisors LLC acquired a new stake in shares of Marathon Petroleum in the first quarter valued at about $29,000. TruNorth Capital Management LLC acquired a new stake in shares of Marathon Petroleum in the second quarter valued at about $35,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Marathon Petroleum in the second quarter valued at about $35,000. Finally, Wellington Shields & Co. LLC acquired a new stake in shares of Marathon Petroleum in the first quarter valued at about $40,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 2.8 %

Shares of MPC stock opened at $153.76 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The stock has a market capitalization of $54.17 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37. The company has a 50 day moving average price of $166.48 and a 200 day moving average price of $174.39. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.32 earnings per share. Equities research analysts predict that Marathon Petroleum Co. will post 10.22 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 2.15%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MPC. BMO Capital Markets dropped their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Scotiabank decreased their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Piper Sandler decreased their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Jefferies Financial Group raised their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Wells Fargo & Company reduced their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $187.00.

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.