Cyndeo Wealth Partners LLC Has $399,000 Stake in Marathon Petroleum Co. (NYSE:MPC)

Cyndeo Wealth Partners LLC lowered its holdings in Marathon Petroleum Co. (NYSE:MPC) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,857 shares of the oil and gas company’s stock after selling 103 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Marathon Petroleum were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MPC. Wellington Management Group LLP boosted its holdings in shares of Marathon Petroleum by 342.1% during the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after buying an additional 4,328,470 shares during the period. International Assets Investment Management LLC raised its position in shares of Marathon Petroleum by 19,153.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after buying an additional 1,304,372 shares in the last quarter. ING Groep NV acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at approximately $114,107,000. National Bank of Canada FI raised its position in shares of Marathon Petroleum by 212.9% in the 3rd quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after buying an additional 576,119 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Marathon Petroleum by 1,204.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after buying an additional 501,441 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 1.9 %

Shares of Marathon Petroleum stock opened at $151.43 on Friday. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The company has a market cap of $48.67 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 2.88 and a beta of 1.42. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company’s 50-day moving average price is $147.18 and its 200-day moving average price is $158.58.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period last year, the firm posted $8.14 earnings per share. On average, equities analysts expect that Marathon Petroleum Co. will post 8.88 earnings per share for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has initiated a stock repurchase program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.40%. Marathon Petroleum’s dividend payout ratio (DPR) is 28.84%.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the purchase, the director now owns 6,090 shares of the company’s stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets decreased their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Barclays decreased their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Mizuho reduced their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Wells Fargo & Company reduced their target price on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $181.20.

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.