Marathon Petroleum Corporation $MPC Stock Sold by Axecap Investments LLC

Axecap Investments LLC lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 62.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,009 shares of the oil and gas company’s stock after selling 11,474 shares during the quarter. Marathon Petroleum comprises approximately 1.7% of Axecap Investments LLC’s holdings, making the stock its 22nd largest position. Axecap Investments LLC’s holdings in Marathon Petroleum were worth $2,771,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MPC. BlackRock Inc. bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $6,648,958,000. Bank of New York Mellon Corp bought a new stake in Marathon Petroleum during the second quarter worth approximately $1,029,611,000. Bank of America Corp DE bought a new stake in Marathon Petroleum during the second quarter worth approximately $621,832,000. Legal & General Group Plc acquired a new position in Marathon Petroleum during the second quarter valued at approximately $380,745,000. Finally, Deutsche Bank AG acquired a new position in Marathon Petroleum during the second quarter valued at approximately $280,761,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the transaction, the insider owned 30,334 shares of the company’s stock, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,691 shares of company stock worth $7,780,127 over the last three months. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Price Performance

NYSE:MPC opened at $474.78 on Wednesday. The stock has a market cap of $138.61 billion, a P/E ratio of 16.32, a PEG ratio of 0.14 and a beta of 0.54. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $493.98. The company has a fifty day moving average price of $403.53 and a 200 day moving average price of $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 (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the prior year, the firm earned $3.96 EPS. The business’s revenue was up 53.5% on a year-over-year basis. Analysts anticipate that Marathon Petroleum Corporation will post 62.78 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 0.8%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

Analyst Ratings Changes

MPC has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on shares of Marathon Petroleum from $376.00 to $472.00 and gave the company a “buy” rating in a research report on Monday, September 21st. Zacks Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $433.00 target price on shares of Marathon Petroleum in a research note on Sunday, October 11th. Morgan Stanley lifted their target price on shares of Marathon Petroleum from $265.00 to $453.00 and gave the stock an “overweight” rating in a report on Monday, September 14th. Finally, Weiss Ratings raised shares of Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $417.88.

Marathon Petroleum Company Profile

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.