12,944 Shares in Marathon Petroleum Corporation $MPC Acquired by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA disclosed a new first-quarter stake in Marathon Petroleum, buying 12,944 shares valued at about $3.16 million.
• Analysts have turned more bullish on MPC, with several firms raising price targets; the stock now carries a Moderate Buy consensus and an average target of $272.94.
• Marathon Petroleum reported strong quarterly results, with EPS of $1.65 beating estimates and revenue of $34.2 billion topping expectations, while also paying a $1.00 quarterly dividend.

Union Bancaire Privee UBP SA acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,944 shares of the oil and gas company's stock, valued at approximately $3,161,000.

Several other institutional investors have also added to or reduced their stakes in MPC. Cambient Family Office LLC bought a new position in shares of Marathon Petroleum during the first quarter valued at $382,000. Lewis Asset Management LLC purchased a new stake in shares of Marathon Petroleum during the first quarter valued at $511,000. Pinnacle Wealth Management Advisory Group LLC increased its holdings in Marathon Petroleum by 8.7% in the 1st 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 buying an additional 538 shares in the last quarter. Sequent Planning LLC purchased a new position in Marathon Petroleum in the 1st quarter worth about $221,000. Finally, Wesbanco Bank Inc. lifted its stake in Marathon Petroleum by 2.0% during the 1st quarter. Wesbanco Bank Inc. now owns 20,409 shares of the oil and gas company's stock valued at $4,983,000 after acquiring an additional 392 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MPC. Morgan Stanley raised their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a report on Friday, June 12th. Wall Street Zen upgraded shares of Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 10th. Jefferies Financial Group raised their target price on shares of Marathon Petroleum from $279.00 to $296.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Barclays lifted their target price on shares of Marathon Petroleum from $230.00 to $270.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $272.94.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $253.78 on Friday. The stock has a market cap of $74.09 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.39 and a beta of 0.52. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $272.46. The firm has a fifty day moving average price of $247.79 and a 200-day moving average price of $216.35. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.91. The company had revenue of $34.20 billion for the quarter, compared to analysts' expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. Marathon Petroleum's revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.24) EPS. Equities analysts anticipate that Marathon Petroleum Corporation will post 31.35 earnings per share for the current fiscal 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 dividend on an annualized basis and a yield of 1.6%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.