Marathon Petroleum Corp (MPC) Shares Bought by WealthTrust Axiom LLC

WealthTrust Axiom LLC grew its holdings in Marathon Petroleum Corp (NYSE:MPC) by 24.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,118 shares of the oil and gas company’s stock after acquiring an additional 800 shares during the period. WealthTrust Axiom LLC’s holdings in Marathon Petroleum were worth $329,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Legacy Financial Advisors Inc. purchased a new stake in shares of Marathon Petroleum in the second quarter worth about $113,000. Northwest Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the second quarter worth about $116,000. NEXT Financial Group Inc purchased a new stake in shares of Marathon Petroleum in the third quarter worth about $124,000. Norway Savings Bank purchased a new stake in shares of Marathon Petroleum in the second quarter worth about $126,000. Finally, Destination Wealth Management purchased a new stake in shares of Marathon Petroleum in the second quarter worth about $144,000. Institutional investors and hedge funds own 83.02% of the company’s stock.

Shares of NYSE MPC opened at $69.49 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Marathon Petroleum Corp has a 1-year low of $60.10 and a 1-year high of $88.45. The company has a market cap of $31.34 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 0.96 and a beta of 1.50.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.02. Marathon Petroleum had a return on equity of 12.21% and a net margin of 4.48%. The company had revenue of $23.13 billion for the quarter, compared to analysts’ expectations of $23.20 billion. During the same period in the previous year, the firm posted $1.77 earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, analysts predict that Marathon Petroleum Corp will post 5.13 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.46 per share. The ex-dividend date is Tuesday, November 20th. This represents a $1.84 annualized dividend and a yield of 2.65%. Marathon Petroleum’s payout ratio is currently 48.42%.

A number of equities research analysts recently commented on MPC shares. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Sunday, July 15th. Royal Bank of Canada reiterated a “buy” rating and issued a $87.00 target price on shares of Marathon Petroleum in a research report on Friday, July 27th. JPMorgan Chase & Co. boosted their target price on Marathon Petroleum from $98.00 to $102.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Mizuho started coverage on Marathon Petroleum in a research report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Marathon Petroleum in a research report on Monday, August 27th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Marathon Petroleum has an average rating of “Buy” and a consensus price target of $92.38.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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