Hexagon Capital Partners LLC Has $161,000 Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Hexagon Capital Partners LLC cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 10.7% in the first quarter, Holdings Channel reports. The firm owned 801 shares of the oil and gas company’s stock after selling 96 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Marathon Petroleum were worth $161,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MPC. Norges Bank acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $500,685,000. Assenagon Asset Management S.A. lifted its holdings in Marathon Petroleum by 256.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock worth $131,235,000 after acquiring an additional 636,281 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Marathon Petroleum by 309.9% during 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 acquiring an additional 486,573 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Marathon Petroleum by 248.1% during the fourth quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock worth $90,335,000 after acquiring an additional 433,977 shares in the last quarter. Finally, Canoe Financial LP bought a new position in Marathon Petroleum during the fourth quarter worth about $33,604,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on MPC. Scotiabank lifted their target price on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler reduced their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Wells Fargo & Company reduced their target price on Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. Mizuho reduced their target price on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, Raymond James cut their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus price target of $191.31.

Marathon Petroleum Stock Up 0.8 %

Shares of NYSE MPC traded up $1.31 during trading hours on Monday, hitting $174.79. The company had a trading volume of 1,695,894 shares, compared to its average volume of 2,721,203. The stock has a market capitalization of $61.58 billion, a P/E ratio of 8.73, a price-to-earnings-growth ratio of 1.62 and a beta of 1.40. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a 1-year low of $112.82 and a 1-year high of $221.11. The firm’s 50 day moving average is $178.71 and its 200-day moving average is $175.96.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.53 by $0.25. The company had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.09 EPS. On average, analysts expect that Marathon Petroleum Co. will post 17.85 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is presently 16.48%.

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.