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

Key Points

• Pictet Asset Management Holding SA boosted its Marathon Petroleum stake by 31% in the first quarter, buying 50,521 additional shares to reach 213,545 shares worth about $52.1 million.
• Marathon Petroleum reported better-than-expected Q1 results, with EPS of $1.65 versus the $0.74 estimate and revenue of $34.2 billion, while quarterly revenue rose 8.5% year over year.
• The company continues to draw bullish analyst support, with a consensus rating of “Moderate Buy” and an average target price of $272.62, while also paying a quarterly dividend of $1.00 per share.

Pictet Asset Management Holding SA increased its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 31.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 213,545 shares of the oil and gas company's stock after purchasing an additional 50,521 shares during the period. Pictet Asset Management Holding SA owned 0.07% of Marathon Petroleum worth $52,146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co. grew its stake in shares of Marathon Petroleum by 39.3% in the fourth quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company's stock worth $2,549,000 after acquiring an additional 4,419 shares during the last quarter. North Dakota State Investment Board bought a new stake in Marathon Petroleum in the fourth quarter valued at about $1,714,000. USA Financial Formulas acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $791,000. KBC Group NV raised its stake in Marathon Petroleum by 22.4% during the fourth quarter. KBC Group NV now owns 225,837 shares of the oil and gas company's stock worth $36,728,000 after acquiring an additional 41,259 shares in the last quarter. Finally, KKM Financial LLC increased its position in shares of Marathon Petroleum by 27.6% during the 3rd quarter. KKM Financial LLC now owns 26,202 shares of the oil and gas company's stock worth $5,050,000 after purchasing an additional 5,661 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 2.1%

Shares of Marathon Petroleum stock opened at $259.35 on Tuesday. The company has a market capitalization of $75.72 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 0.39 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The business has a 50-day moving average of $248.45 and a two-hundred day moving average of $217.03. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $272.46.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.Marathon Petroleum's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.24) EPS. As a group, equities analysts predict that Marathon Petroleum Corporation will post 31.35 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given 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 dividend yield of 1.5%. Marathon Petroleum's dividend payout ratio is currently 26.11%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MPC shares. Barclays raised their price target on Marathon Petroleum from $230.00 to $270.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Bank of America boosted their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Weiss Ratings lowered shares of Marathon Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. UBS Group set a $285.00 target price on shares of Marathon Petroleum in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group increased their target price on Marathon Petroleum from $279.00 to $296.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $272.62.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business'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 sale, the vice president directly owned 16,900 shares of the company's stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC - Free Report).

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.