Marathon Petroleum Corporation $MPC Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 25.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 155,236 shares of the oil and gas company’s stock after selling 52,150 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Marathon Petroleum were worth $61,383,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Solstein Capital LLC bought a new position in Marathon Petroleum during the second quarter valued at approximately $26,000. Caitlin John LLC bought a new stake in Marathon Petroleum in the 2nd quarter worth approximately $26,000. Bell Investment Advisors Inc purchased a new stake in Marathon Petroleum during the 2nd quarter valued at $27,000. Main Street Group LTD purchased a new stake in Marathon Petroleum during the 1st quarter valued at $35,000. Finally, Cetera Trust Company N.A purchased a new stake in Marathon Petroleum during the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of a number of research reports. Bank of America raised their price target on Marathon Petroleum from $410.00 to $426.00 and gave the stock a “neutral” rating in a research note on Friday, October 2nd. Weiss Ratings raised Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. The Goldman Sachs Group raised their target price on Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. UBS Group set a $510.00 price target on Marathon Petroleum in a research note on Friday, October 9th. Finally, Morgan Stanley upped their price target on shares of Marathon Petroleum from $453.00 to $458.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $425.12.

Insider Activity at Marathon Petroleum

In related news, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the transaction, the vice president directly owned 1,576 shares in the company, valued at approximately $571,757.04. The trade was a 26.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Shawn Lyon sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is owned by company insiders.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $389.91 on Tuesday. The stock has a market cap of $106.16 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.10 and a beta of 0.53. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 1.45. The stock’s fifty day moving average is $422.11 and its 200 day moving average is $296.41. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $493.98.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $25.37 by $1.56. The business had revenue of $56.03 billion during the quarter, compared to analyst estimates of $46.60 billion. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. Marathon Petroleum’s revenue for the quarter was up 57.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.01 earnings per share. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 66.31 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Marathon Petroleum’s payout ratio is presently 13.75%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks.

The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.

Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.