Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 310,159 shares of the oil and gas company’s stock after selling 10,300 shares during the period. Pictet Asset Management Ltd.’s holdings in Marathon Petroleum Corporation were worth $16,141,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Oakbrook Investments LLC increased its stake in Marathon Petroleum Corporation by 2.9% in the first quarter. Oakbrook Investments LLC now owns 49,000 shares of the oil and gas company’s stock valued at $2,476,000 after buying an additional 1,400 shares during the last quarter. Wendell David Associates Inc. increased its stake in Marathon Petroleum Corporation by 5.2% in the first quarter. Wendell David Associates Inc. now owns 36,638 shares of the oil and gas company’s stock valued at $1,852,000 after buying an additional 1,800 shares during the last quarter. Hengehold Capital Management LLC increased its stake in Marathon Petroleum Corporation by 12.2% in the first quarter. Hengehold Capital Management LLC now owns 36,403 shares of the oil and gas company’s stock valued at $1,840,000 after buying an additional 3,952 shares during the last quarter. Boys Arnold & Co. Inc. increased its stake in Marathon Petroleum Corporation by 1.6% in the first quarter. Boys Arnold & Co. Inc. now owns 15,972 shares of the oil and gas company’s stock valued at $807,000 after buying an additional 248 shares during the last quarter. Finally, Hartford Investment Management Co. increased its stake in Marathon Petroleum Corporation by 13.2% in the first quarter. Hartford Investment Management Co. now owns 147,217 shares of the oil and gas company’s stock valued at $7,440,000 after buying an additional 17,182 shares during the last quarter. Institutional investors own 81.58% of the company’s stock.
Marathon Petroleum Corporation (NYSE:MPC) opened at 52.16 on Friday. Marathon Petroleum Corporation has a 52-week low of $39.29 and a 52-week high of $56.81. The stock’s 50 day moving average price is $54.14 and its 200-day moving average price is $51.64. The stock has a market capitalization of $26.41 billion, a PE ratio of 31.10 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.04 by $0.01. The company had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $1.07 earnings per share. On average, equities analysts expect that Marathon Petroleum Corporation will post $2.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.07%. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 81.82%.
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Several equities research analysts recently commented on the company. BidaskClub upgraded Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Cowen and Company lifted their price objective on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $54.83 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Finally, Scotiabank set a $55.00 price objective on Marathon Petroleum Corporation and gave the stock a “hold” rating in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Marathon Petroleum Corporation has a consensus rating of “Buy” and a consensus price target of $58.62.
In related news, insider Thomas M. Kelley sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP C. Michael Palmer sold 4,568 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $52.04, for a total value of $237,718.72. Following the sale, the vice president now directly owns 62,325 shares in the company, valued at $3,243,393. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,568 shares of company stock worth $1,808,969. 1.05% of the stock is owned by corporate insiders.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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