Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC cut its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 17.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,365 shares of the oil and gas company’s stock after selling 492 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Marathon Petroleum were worth $345,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new stake in Marathon Petroleum during the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum during the fourth quarter worth about $27,000. Sierra Ocean LLC acquired a new stake in Marathon Petroleum during the fourth quarter worth about $31,000. Cape Investment Advisory Inc. increased its stake in Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 267 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $44,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. TD Cowen increased their target price on Marathon Petroleum from $152.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Piper Sandler lowered their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Scotiabank lowered their target price on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Mizuho increased their target price on Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Finally, Raymond James Financial lowered their target price on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.21.

Marathon Petroleum Stock Up 2.0%

MPC opened at $170.07 on Wednesday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $183.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The stock has a market cap of $52.25 billion, a P/E ratio of 23.92, a P/E/G ratio of 3.29 and a beta of 0.89. The stock’s 50 day moving average price is $149.22 and its 200 day moving average price is $146.55.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The firm had revenue of $31.85 billion for the quarter, compared to analysts’ expectations of $28.91 billion. During the same period last year, the firm earned $2.58 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. As a group, research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.14%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio is currently 51.20%.

Marathon Petroleum Company 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.