TD Asset Management Inc Sells 3,265 Shares of Marathon Petroleum Corporation $MPC

Key Points

• TD Asset Management Inc has reduced its stake in Marathon Petroleum Corporation by 2.4%, now owning 130,044 shares valued at approximately $21.6 million after selling 3,265 shares.
• Marathon Petroleum recently reported strong quarterly earnings, with an EPS of $3.96, exceeding expectations, while also having a dividend yield of 2.0%.
• Analysts maintain a generally positive outlook on Marathon Petroleum, with eight analysts rating it a "Buy" and a consensus price target increasing to $200.31.

TD Asset Management Inc reduced its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,044 shares of the oil and gas company's stock after selling 3,265 shares during the period. TD Asset Management Inc's holdings in Marathon Petroleum were worth $21,602,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Marathon Petroleum by 30.9% in the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock valued at $696,000 after buying an additional 1,178 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Marathon Petroleum by 3.4% in the 1st quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company's stock worth $1,541,000 after acquiring an additional 351 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Marathon Petroleum by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 110,599 shares of the oil and gas company's stock valued at $16,113,000 after acquiring an additional 2,539 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Marathon Petroleum by 7.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 5,024 shares of the oil and gas company's stock worth $734,000 after purchasing an additional 364 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its stake in shares of Marathon Petroleum by 15.7% in the first quarter. CWA Asset Management Group LLC now owns 2,785 shares of the oil and gas company's stock worth $406,000 after purchasing an additional 378 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares of the company's stock, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MPC has been the subject of several recent research reports. Wells Fargo & Company assumed coverage on Marathon Petroleum in a report on Friday. They set an "overweight" rating and a $214.00 price target for the company. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. UBS Group raised their price target on shares of Marathon Petroleum from $203.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Piper Sandler upped their price objective on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Finally, Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $200.31.

Marathon Petroleum Trading Up 1.7%

NYSE MPC opened at $184.14 on Friday. The business's fifty day moving average is $180.61 and its 200-day moving average is $164.76. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The stock has a market capitalization of $55.98 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.83 and a beta of 0.90. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. The business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm's quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.12 earnings per share. Equities research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum's dividend payout ratio is presently 54.01%.

About Marathon Petroleum

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.

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