TD Asset Management Inc Cuts Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)

TD Asset Management Inc lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,309 shares of the oil and gas company's stock after selling 2,458 shares during the period. TD Asset Management Inc's holdings in Marathon Petroleum were worth $19,422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MPC. HB Wealth Management LLC lifted its holdings in shares of Marathon Petroleum by 13.1% during the 1st quarter. HB Wealth Management LLC now owns 25,905 shares of the oil and gas company's stock valued at $3,774,000 after purchasing an additional 2,998 shares during the last quarter. Applied Finance Capital Management LLC lifted its holdings in shares of Marathon Petroleum by 14.4% during the 1st quarter. Applied Finance Capital Management LLC now owns 14,239 shares of the oil and gas company's stock valued at $2,074,000 after purchasing an additional 1,796 shares during the last quarter. Stevens Capital Management LP lifted its holdings in shares of Marathon Petroleum by 77.9% during the 1st quarter. Stevens Capital Management LP now owns 6,031 shares of the oil and gas company's stock valued at $879,000 after purchasing an additional 2,640 shares during the last quarter. Caliber Wealth Management LLC KS purchased a new stake in shares of Marathon Petroleum during the 1st quarter valued at $3,347,000. Finally, Trilogy Capital Inc. purchased a new stake in shares of Marathon Petroleum during the 1st quarter valued at $249,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MPC shares. Evercore ISI started coverage on Marathon Petroleum in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price on the stock. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Piper Sandler upped their target price on Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Mizuho increased their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $183.93.

Marathon Petroleum Price Performance

MPC traded down $4.54 during trading on Wednesday, reaching $170.89. The company's stock had a trading volume of 1,492,318 shares, compared to its average volume of 1,963,375. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The firm has a fifty day simple moving average of $168.18 and a two-hundred day simple moving average of $152.87. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31. The company has a market cap of $52.50 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 3.00 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 EPS. As a group, analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.13%. Marathon Petroleum's payout ratio is presently 51.20%.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director owned 18,944 shares of the company's stock, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company's stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.