Hsbc Holdings PLC raised its holdings in Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 21.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 547,309 shares of the oil and gas company’s stock after acquiring an additional 97,801 shares during the period. Hsbc Holdings PLC’s holdings in Marathon Petroleum were worth $89,035,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV raised its stake in shares of Marathon Petroleum by 2.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock valued at $333,000 after buying an additional 51 shares during the last quarter. IFG Advisory LLC boosted its stake in shares of Marathon Petroleum by 1.5% in the fourth quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock worth $558,000 after buying an additional 51 shares during the last quarter. Eagle Bluffs Wealth Management LLC grew its holdings in Marathon Petroleum by 1.2% during the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company’s stock worth $709,000 after acquiring an additional 52 shares during the period. Auxano Advisors LLC raised its position in Marathon Petroleum by 2.1% during the fourth quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company’s stock valued at $428,000 after acquiring an additional 55 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC raised its position in Marathon Petroleum by 4.7% during the fourth quarter. Onyx Bridge Wealth Group LLC now owns 1,253 shares of the oil and gas company’s stock valued at $204,000 after acquiring an additional 56 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.
Marathon Petroleum Stock Performance
MPC opened at $243.11 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The company has a market cap of $70.97 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 0.37 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $272.46. The firm’s fifty day simple moving average is $245.18 and its two-hundred day simple moving average is $214.45.
Marathon Petroleum Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s payout ratio is presently 26.11%.
Insider Buying and Selling
In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on MPC shares. Jefferies Financial Group upped their price objective on Marathon Petroleum from $279.00 to $296.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Bank of America lifted their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Scotiabank boosted their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Mizuho increased their price target on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $344.00 price target on shares of Marathon Petroleum in a research report on Monday, June 15th. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $272.94.
Check Out Our Latest Research Report on Marathon Petroleum
Marathon Petroleum Profile
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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