Hexagon Capital Partners LLC Decreases Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Hexagon Capital Partners LLC lowered its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 12.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 704 shares of the oil and gas company’s stock after selling 97 shares during the period. Hexagon Capital Partners LLC’s holdings in Marathon Petroleum were worth $122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Marathon Petroleum during the fourth quarter valued at about $500,685,000. Capital Wealth Planning LLC grew its position in shares of Marathon Petroleum by 10,902.9% during the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after buying an additional 1,100,536 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Marathon Petroleum by 309.9% in the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after buying an additional 486,573 shares during the last quarter. Canoe Financial LP acquired a new stake in Marathon Petroleum in the fourth quarter valued at $33,604,000. Finally, Hsbc Holdings PLC grew its holdings in Marathon Petroleum by 35.0% during the 4th quarter. Hsbc Holdings PLC now owns 870,461 shares of the oil and gas company’s stock worth $129,345,000 after acquiring an additional 225,837 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

MPC stock traded up $1.68 on Friday, reaching $175.83. The company’s stock had a trading volume of 2,321,874 shares, compared to its average volume of 2,645,106. The firm has a fifty day moving average of $170.93 and a two-hundred day moving average of $179.30. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The company has a market capitalization of $61.95 billion, a P/E ratio of 8.78, a price-to-earnings-growth ratio of 2.09 and a beta of 1.40. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $5.32 earnings per share. As a group, analysts predict that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.88%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Marathon Petroleum announced that its Board of Directors has authorized a stock buyback plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

MPC has been the topic of several research analyst reports. TD Cowen increased their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho reduced their price objective on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.38.

Marathon Petroleum 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.