Daymark Wealth Partners LLC Sells 124 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Daymark Wealth Partners LLC lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,057 shares of the oil and gas company’s stock after selling 124 shares during the period. Daymark Wealth Partners LLC’s holdings in Marathon Petroleum were worth $1,174,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SWS Partners boosted its stake in Marathon Petroleum by 19.0% during the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock worth $2,452,000 after acquiring an additional 2,806 shares in the last quarter. Greatmark Investment Partners Inc. boosted its position in shares of Marathon Petroleum by 3.5% in the 4th quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company’s stock worth $22,483,000 after purchasing an additional 5,476 shares in the last quarter. TCTC Holdings LLC grew its stake in shares of Marathon Petroleum by 3.3% in the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock worth $12,730,000 after buying an additional 2,892 shares during the last quarter. Cambridge Financial Group Inc. purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $5,624,000. Finally, New Age Alpha Advisors LLC bought a new position in Marathon Petroleum during the 4th quarter valued at approximately $1,192,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MPC. Scotiabank dropped their target price on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Wall Street Zen raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Barclays raised their price objective on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Raymond James Financial dropped their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company raised their price target on shares of Marathon Petroleum from $180.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $175.80.

Marathon Petroleum Stock Performance

MPC stock opened at $165.87 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31. The company has a market cap of $50.96 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 3.26 and a beta of 0.89. The stock’s fifty day moving average price is $154.31 and its 200-day moving average price is $147.18.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. Marathon Petroleum’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 earnings per share. On average, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum’s payout ratio is 51.20%.

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.