TD Waterhouse Canada Inc. Buys 30,710 Shares of Marathon Petroleum Corporation $MPC

Key Points

• TD Waterhouse Canada increased its Marathon Petroleum stake by 200.3% in the third quarter, acquiring 30,710 additional shares for a total of 46,043 shares valued at approximately $19.36 million.
• Institutional investors own 76.77% of MPC, while analysts maintain a “Moderate Buy” consensus with an average price target of $417.88, despite some recent concerns about valuation and relative stock weakness.
• Marathon Petroleum reported quarterly EPS of $17.73, surpassing estimates of $14.27, and maintains a quarterly dividend of $1.00, equivalent to a $4.00 annual payout and a 0.8% yield.

TD Waterhouse Canada Inc. boosted its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 200.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,043 shares of the oil and gas company's stock after acquiring an additional 30,710 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Marathon Petroleum were worth $19,360,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Marathon Petroleum in the 2nd quarter worth $6,648,958,000. Bank of New York Mellon Corp bought a new stake in Marathon Petroleum in the second quarter worth $1,029,611,000. Bank of America Corp DE bought a new stake in Marathon Petroleum in the second quarter worth $621,832,000. Legal & General Group Plc bought a new stake in Marathon Petroleum in the second quarter worth $380,745,000. Finally, Deutsche Bank AG purchased a new stake in Marathon Petroleum during the second quarter valued at about $280,761,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum News Roundup

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Wells Fargo issued a Buy rating on MPC, adding to the positive analyst sentiment surrounding the refiner. Wells Fargo Issues a Buy Rating on Marathon Petroleum
• Positive Sentiment: Analysts raised their estimated fair value for Marathon Petroleum to approximately $433.44 from $375.50, citing improved refining assumptions and stronger anticipated margins and crack spreads. Marathon Petroleum Stock Gets Fair Value Boost
• Positive Sentiment: Citigroup projected significant potential appreciation for MPC, while a separate report noted the stock reached a new 12-month high following an analyst upgrade. These developments reinforce the bullish view on refining profitability. Citigroup Forecasts Strong Price Appreciation Marathon Petroleum Sets New 12-Month High
• Positive Sentiment: Coverage describes MPC as a potential hedge against diesel-related weakness, with its scale and refining exposure benefiting if industry margins remain firm. Marathon Petroleum: A Solid Hedge Vs. Diesel's Damage
• Neutral Sentiment: Although MPC and Delek US reported stronger earnings as refining margins improved, analysts favored Delek because of its lower valuation and stronger earnings-estimate revisions. Marathon vs. Delek US
• Negative Sentiment: The stock’s decline while the market advanced highlights near-term relative weakness. Investors may also be questioning whether MPC’s large multiyear gain and current valuation already reflect much of the expected cash-flow and refining-margin improvement. Marathon Petroleum Stock Declines While Market Improves

Analyst Ratings Changes

A number of brokerages have recently issued reports on MPC. Bank of America raised their price objective on Marathon Petroleum from $410.00 to $426.00 and gave the company a "neutral" rating in a research note on Friday, October 2nd. Raymond James Financial boosted their target price on Marathon Petroleum from $350.00 to $445.00 and gave the company an "outperform" rating in a research note on Monday, September 14th. Jefferies Financial Group reissued a "hold" rating and issued a $433.00 target price on shares of Marathon Petroleum in a research note on Sunday, October 11th. Barclays increased their target price on Marathon Petroleum from $321.00 to $488.00 and gave the company an "overweight" rating in a report on Monday, October 12th. Finally, Citigroup raised their price target on Marathon Petroleum from $318.00 to $518.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum presently has an average rating of "Moderate Buy" and an average price target of $417.88.

Marathon Petroleum Stock Up 0.3%

Shares of NYSE MPC opened at $478.38 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $485.22. The firm's fifty day moving average is $397.65 and its 200 day moving average is $308.94. The company has a market cap of $139.66 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 0.14 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts' consensus estimates of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm's revenue was up 53.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.96 EPS. On average, equities research analysts expect that Marathon Petroleum Corporation will post 62.78 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were given a $1.00 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.8%. Marathon Petroleum's payout ratio is presently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Erin M. Brzezinski sold 570 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $362.79, for a total transaction 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. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Molly Benson sold 17,196 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the transaction, the insider directly owned 30,334 shares of the company's stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation NYSE: MPC is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum's refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.

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