Pictet Asset Management Holding SA Has $52.15 Million Stock Position in Marathon Petroleum Corporation $MPC

Pictet Asset Management Holding SA lifted its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 31.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,545 shares of the oil and gas company’s stock after purchasing an additional 50,521 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Marathon Petroleum were worth $52,146,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Traveka Wealth LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at $208,000. Union Bancaire Privee UBP SA acquired a new position in shares of Marathon Petroleum during the 1st quarter worth about $3,161,000. Cambient Family Office LLC bought a new position in shares of Marathon Petroleum in the 1st quarter valued at about $382,000. Lewis Asset Management LLC acquired a new stake in shares of Marathon Petroleum in the first quarter valued at about $511,000. Finally, Pinnacle Wealth Management Advisory Group LLC raised its holdings in Marathon Petroleum by 8.7% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,702 shares of the oil and gas company’s stock worth $1,636,000 after acquiring an additional 538 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Mizuho increased their price target on Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Morgan Stanley upped their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Citigroup increased their price objective on Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. UBS Group set a $285.00 target price on shares of Marathon Petroleum in a research note on Wednesday, May 6th. Finally, Barclays boosted their target price on shares of Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.62.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $259.35 on Tuesday. 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 business’s 50 day moving average price is $248.45 and its two-hundred day moving average price is $217.03. The company has a market cap of $75.72 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.39 and a beta of 0.52. Marathon Petroleum Corporation has a twelve month low of $158.00 and a twelve month high of $272.46.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The company had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm posted ($0.24) earnings per share. On average, analysts predict that Marathon Petroleum Corporation will post 31.35 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.5%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.11%.

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.