Daymark Wealth Partners LLC Decreases Holdings in Marathon Petroleum Co. (NYSE:MPC)

Daymark Wealth Partners LLC decreased its holdings in Marathon Petroleum Co. (NYSE:MPC) by 11.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,193 shares of the oil and gas company’s stock after selling 1,074 shares during the period. Daymark Wealth Partners LLC’s holdings in Marathon Petroleum were worth $1,421,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in Marathon Petroleum by 17.7% during the second quarter. AQR Capital Management LLC now owns 1,197,401 shares of the oil and gas company’s stock valued at $207,186,000 after buying an additional 180,213 shares during the period. AXA S.A. boosted its holdings in Marathon Petroleum by 142.2% during the 2nd quarter. AXA S.A. now owns 50,526 shares of the oil and gas company’s stock valued at $8,765,000 after acquiring an additional 29,665 shares during the period. Alpha DNA Investment Management LLC boosted its holdings in Marathon Petroleum by 28.6% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 2,491 shares of the oil and gas company’s stock valued at $432,000 after acquiring an additional 554 shares during the period. Toronto Dominion Bank grew its position in Marathon Petroleum by 1.2% during the 2nd quarter. Toronto Dominion Bank now owns 176,626 shares of the oil and gas company’s stock worth $30,641,000 after acquiring an additional 2,155 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Marathon Petroleum by 51.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 69,017 shares of the oil and gas company’s stock valued at $11,973,000 after purchasing an additional 23,541 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MPC. Piper Sandler decreased their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Wells Fargo & Company dropped their target price on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. TD Cowen boosted their price target on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $197.69.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $163.38 on Friday. The company’s fifty day moving average price is $169.75 and its 200-day moving average price is $179.48. The stock has a market cap of $57.56 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same quarter in the previous year, the firm posted $5.32 earnings per share. Marathon Petroleum’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts expect that Marathon Petroleum Co. will post 10.56 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

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.