Marathon Petroleum Corporation $MPC Stake Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 25.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,236 shares of the oil and gas company's stock after selling 52,150 shares during the period. Pictet Asset Management Holding SA owned 0.05% of Marathon Petroleum worth $61,383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaCentric Advisors LLC lifted its stake in shares of Marathon Petroleum by 66.9% in the 3rd quarter. AlphaCentric Advisors LLC now owns 1,320 shares of the oil and gas company's stock valued at $522,000 after purchasing an additional 529 shares during the period. Abacus Wealth Partners LLC purchased a new stake in Marathon Petroleum in the third quarter worth $221,000. United Advisor Group LLC grew its stake in Marathon Petroleum by 124.6% in the third quarter. United Advisor Group LLC now owns 3,537 shares of the oil and gas company's stock worth $1,398,000 after purchasing an additional 1,962 shares during the period. Plancorp LLC raised its holdings in Marathon Petroleum by 11.1% in the third quarter. Plancorp LLC now owns 1,427 shares of the oil and gas company's stock worth $564,000 after purchasing an additional 142 shares in the last quarter. Finally, May Hill Capital LLC bought a new position in Marathon Petroleum in the third quarter worth $252,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 4.6%

NYSE MPC opened at $389.91 on Tuesday. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $493.98. 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 stock's fifty day moving average price is $422.11 and its 200-day moving average price is $296.41. The company has a current ratio of 1.45, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $25.37 by $1.56. The firm 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 quarterly revenue was up 57.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.01 EPS. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the transaction, the vice president directly owned 1,576 shares of the company's stock, valued at approximately $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Shawn Lyon sold 1,000 shares of the company's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $375.75, for a total transaction of $375,750.00. Following the completion of the transaction, the senior vice president owned 11,194 shares in the company, valued at approximately $4,206,145.50. This represents a 8.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 corporate insiders.

Analysts Set New Price Targets

MPC has been the subject of several recent research reports. TD Cowen raised their price objective on Marathon Petroleum from $450.00 to $478.00 and gave the company a "buy" rating in a research report on Thursday, October 22nd. Evercore set a $330.00 target price on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 4th. Piper Sandler lifted their price target on shares of Marathon Petroleum from $462.00 to $466.00 and gave the company an "overweight" rating in a research report on Thursday, November 5th. Finally, Barclays boosted their price objective on shares of Marathon Petroleum from $321.00 to $488.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $425.12.

Marathon Petroleum 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.

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