Marathon Petroleum Corporation $MPC Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 26.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 569,752 shares of the oil and gas company’s stock after selling 205,782 shares during the period. Hsbc Holdings PLC owned 0.19% of Marathon Petroleum worth $82,945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Vanguard Group Inc. boosted its position in shares of Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after acquiring an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP increased its position in Marathon Petroleum by 18.7% during the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. raised its stake in Marathon Petroleum by 6.3% during the first quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after purchasing an additional 355,215 shares during the period. Boston Partners boosted its holdings in shares of Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after purchasing an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Marathon Petroleum by 3.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock valued at $725,878,000 after buying an additional 178,397 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $165.7630 on Thursday. The firm has a market capitalization of $50.40 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 2.99 and a beta of 0.90. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. The stock’s 50 day moving average price is $169.52 and its 200 day moving average price is $154.34. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same quarter last year, the firm posted $4.12 earnings per share. The business’s quarterly revenue was down 11.1% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MPC. Citigroup increased their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. TD Cowen cut their price objective on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. UBS Group boosted their target price on Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Evercore ISI began coverage on shares of Marathon Petroleum in a report on Wednesday, June 18th. They issued an “in-line” rating and a $170.00 price target on the stock. Finally, Piper Sandler lifted their price target on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $185.29.

Check Out Our Latest Research Report on Marathon Petroleum

Marathon Petroleum Company Profile

(Free Report)

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.

Featured Stories

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