Hosking Partners LLP Sells 23,942 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Hosking Partners LLP reduced its stake in Marathon Petroleum Corporation by 10.5%, selling 23,942 shares and holding 204,569 shares, which now constitutes about 1.3% of their portfolio.
• Analysts have mixed ratings on Marathon Petroleum, with an average rating of "Hold" and a price target of approximately $185.29, while some brokerages have increased their price objectives recently.
• Marathon Petroleum recently declared a quarterly dividend of $0.91 per share, representing an annualized dividend yield of 2.3%, with a payout ratio of 54.01%.

Hosking Partners LLP reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 10.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,569 shares of the oil and gas company's stock after selling 23,942 shares during the period. Marathon Petroleum accounts for about 1.3% of Hosking Partners LLP's holdings, making the stock its 26th biggest position. Hosking Partners LLP owned about 0.07% of Marathon Petroleum worth $29,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of MPC. Brighton Jones LLC increased its position in Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after purchasing an additional 1,178 shares during the last quarter. GHE LLC lifted its position in Marathon Petroleum by 1.8% in the 4th quarter. GHE LLC now owns 38,572 shares of the oil and gas company's stock valued at $5,381,000 after purchasing an additional 665 shares during the last quarter. F M Investments LLC lifted its position in Marathon Petroleum by 8.8% in the 4th quarter. F M Investments LLC now owns 27,278 shares of the oil and gas company's stock valued at $3,805,000 after purchasing an additional 2,215 shares during the last quarter. Argent Trust Co increased its stake in Marathon Petroleum by 1.5% during the 4th quarter. Argent Trust Co now owns 18,419 shares of the oil and gas company's stock valued at $2,569,000 after buying an additional 265 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Marathon Petroleum by 5.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 220,144 shares of the oil and gas company's stock worth $30,736,000 after purchasing an additional 10,663 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Mizuho upped their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Piper Sandler upped their target price 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. TD Cowen cut their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $185.29.

Marathon Petroleum Price Performance

MPC stock traded down $0.56 during midday trading on Friday, reaching $160.95. The company had a trading volume of 1,278,171 shares, compared to its average volume of 1,807,968. The stock has a 50 day moving average price of $169.25 and a 200-day moving average price of $153.73. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.10. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The company has a market capitalization of $48.93 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 2.88 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same period in the previous year, the firm earned $4.12 earnings per share. The company's revenue was down 11.1% compared to the same quarter last year. Equities research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.3%. Marathon Petroleum's dividend payout ratio is presently 54.01%.

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.