Marathon Petroleum Corporation $MPC Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Marathon Petroleum by 26.5%, selling 205,782 shares, and now owns 569,752 shares valued at approximately $82.9 million.
• Several institutional investors, including Vanguard Group and Wellington Management, have increased their stakes in Marathon Petroleum, indicating renewed interest in the stock.
• Marathon Petroleum recently reported impressive quarterly earnings with an EPS of $3.96, exceeding estimates, despite a year-over-year revenue decline of 11.1%.

Hsbc Holdings PLC cut its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 26.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 569,752 shares of the oil and gas company's stock after selling 205,782 shares during the period. Hsbc Holdings PLC owned approximately 0.19% of Marathon Petroleum worth $82,945,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new position in Marathon Petroleum during the fourth quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC increased its stake in Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 201 shares during the last quarter. Hughes Financial Services LLC acquired a new stake in Marathon Petroleum during the first quarter worth $32,000. Decker Retirement Planning Inc. increased its stake in Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Marathon Petroleum during the first quarter worth $35,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares of the company's stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares of the company's stock, valued at $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Marathon Petroleum Stock Up 1.0%

NYSE:MPC traded up $1.7110 during midday trading on Monday, reaching $172.5910. The company had a trading volume of 969,111 shares, compared to its average volume of 2,610,238. The firm has a market capitalization of $52.47 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 3.11 and a beta of 0.90. The stock's fifty day simple moving average is $169.60 and its 200-day simple moving average is $154.56. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.10. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

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

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's payout ratio is presently 54.01%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MPC shares. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. UBS Group lifted their price objective on Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Evercore ISI started coverage on Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price objective for the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $200.00 price objective (up from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. Finally, Barclays lifted their price objective on Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $185.29.

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.