Axxcess Wealth Management LLC Has $2.65 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Axxcess Wealth Management LLC lifted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,131 shares of the oil and gas company’s stock after purchasing an additional 384 shares during the period. Axxcess Wealth Management LLC’s holdings in Marathon Petroleum were worth $2,646,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Marathon Petroleum in the fourth quarter valued at approximately $25,000. FinTrust Capital Advisors LLC grew its holdings in shares of Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Marathon Petroleum during the first quarter worth about $29,000. ICA Group Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the 4th quarter worth about $30,000. Finally, Vima LLC acquired a new position in Marathon Petroleum during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays lowered their price target on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. Wolfe Research initiated coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 target price on the stock. StockNews.com lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Jefferies Financial Group raised their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company lowered their price target on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $193.64.

Marathon Petroleum Price Performance

Shares of NYSE:MPC traded up $1.15 during trading on Friday, reaching $172.65. The company had a trading volume of 1,616,235 shares, compared to its average volume of 2,678,637. The company has a fifty day moving average of $171.94 and a two-hundred day moving average of $177.80. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $60.83 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40. Marathon Petroleum Co. has a 12 month low of $128.07 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same quarter in the prior year, the firm earned $6.09 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum Co. will post 13.84 earnings per share for the current year.

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

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.