Marathon Petroleum Co. (NYSE:MPC) Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its stake in Marathon Petroleum Co. (NYSE:MPC) by 3.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 146,883 shares of the oil and gas company’s stock after selling 5,842 shares during the quarter. TD Asset Management Inc’s holdings in Marathon Petroleum were worth $25,481,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. FinTrust Capital Advisors LLC raised its stake in shares of Marathon Petroleum by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Crewe Advisors LLC purchased a new stake in Marathon Petroleum in the first quarter valued at approximately $29,000. ICA Group Wealth Management LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $30,000. Wellington Shields & Co. LLC purchased a new position in shares of Marathon Petroleum during the first quarter worth $40,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Marathon Petroleum in the second quarter valued at $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 1.5 %

Marathon Petroleum stock opened at $166.00 on Monday. The stock has a market cap of $58.49 billion, a PE ratio of 8.29, a P/E/G ratio of 2.33 and a beta of 1.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The stock’s fifty day moving average is $171.21 and its two-hundred day moving average is $180.42. Marathon Petroleum Co. has a 1-year low of $139.32 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping the consensus estimate of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.32 earnings per share. On average, sell-side analysts expect that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s payout ratio is 16.48%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MPC. Tudor Pickering raised Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company reduced their price target on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Jefferies Financial Group increased their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, TD Cowen boosted their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.38.

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.