TD Asset Management Inc. reduced its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 4.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 204,812 shares of the oil and gas company’s stock after selling 10,560 shares during the period. TD Asset Management Inc.’s holdings in Marathon Petroleum were worth $11,445,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in MPC. Keybank National Association OH boosted its holdings in Marathon Petroleum by 10.4% in the 2nd quarter. Keybank National Association OH now owns 103,532 shares of the oil and gas company’s stock worth $5,785,000 after buying an additional 9,727 shares during the period. Westpac Banking Corp boosted its holdings in Marathon Petroleum by 4.7% in the 2nd quarter. Westpac Banking Corp now owns 159,246 shares of the oil and gas company’s stock worth $8,899,000 after buying an additional 7,192 shares during the period. Wedbush Securities Inc. boosted its holdings in Marathon Petroleum by 107.6% in the 2nd quarter. Wedbush Securities Inc. now owns 15,301 shares of the oil and gas company’s stock worth $855,000 after buying an additional 7,932 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in Marathon Petroleum by 3.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 154,426 shares of the oil and gas company’s stock worth $8,629,000 after buying an additional 5,800 shares during the period. Finally, CWM LLC boosted its holdings in Marathon Petroleum by 14.2% in the 2nd quarter. CWM LLC now owns 11,419 shares of the oil and gas company’s stock worth $638,000 after buying an additional 1,421 shares during the period. 77.55% of the stock is owned by hedge funds and other institutional investors.
NYSE MPC opened at $47.69 on Monday. Marathon Petroleum Corp has a 1 year low of $43.96 and a 1 year high of $88.45. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.24 and a quick ratio of 0.63. The stock has a market capitalization of $29.89 billion, a PE ratio of 7.03, a P/E/G ratio of 1.27 and a beta of 1.68. The company’s 50 day simple moving average is $53.50 and its two-hundred day simple moving average is $56.73.Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.40. Marathon Petroleum had a net margin of 2.36% and a return on equity of 9.55%. The business had revenue of $33.70 billion for the quarter, compared to analysts’ expectations of $33.26 billion. During the same period in the prior year, the company posted $2.27 EPS. The business’s revenue for the quarter was up 50.1% compared to the same quarter last year. On average, research analysts anticipate that Marathon Petroleum Corp will post 4.4 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 4.45%. The ex-dividend date is Tuesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 31.27%.
Several research analysts recently commented on MPC shares. Raymond James raised their price objective on shares of Marathon Petroleum from $72.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. ValuEngine raised shares of Marathon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 22nd. Credit Suisse Group cut their price objective on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Cowen downgraded shares of Marathon Petroleum from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $90.00 to $65.00 in a report on Friday, May 10th. Finally, Royal Bank of Canada cut their price objective on shares of Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $82.62.
In other news, Director James E. Rohr bought 12,500 shares of the stock in a transaction on Tuesday, June 11th. The shares were acquired at an average cost of $48.14 per share, for a total transaction of $601,750.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.06% of the company’s stock.
Marathon Petroleum Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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