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

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $27,000. Sierra Ocean LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $31,000. Cape Investment Advisory Inc. grew its holdings 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 period. Finally, OFI Invest Asset Management acquired a new position in Marathon Petroleum during the fourth quarter worth $44,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

MPC has been the topic of a number of research analyst reports. Barclays boosted their target price on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Wells Fargo & Company boosted their target price on Marathon Petroleum from $180.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 11th. Mizuho boosted their target price on Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Morgan Stanley decreased their target price on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Finally, Raymond James Financial decreased their target price on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $176.21.

Marathon Petroleum Stock Up 2.0%

Shares of NYSE:MPC opened at $170.07 on Wednesday. The company has a market capitalization 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 fifty day simple moving average is $149.22 and its 200-day simple moving average is $146.55. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.31. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16.

Marathon Petroleum (NYSE:MPC) last released 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. The firm had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.58 earnings per share. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal 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 paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.14%. Marathon Petroleum’s payout ratio is currently 51.20%.

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.