Toronto Dominion Bank Sells 42,059 Shares of Marathon Petroleum Co. (NYSE:MPC)

Toronto Dominion Bank lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 19.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 174,471 shares of the oil and gas company’s stock after selling 42,059 shares during the quarter. Toronto Dominion Bank’s holdings in Marathon Petroleum were worth $35,156,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MPC. Dimensional Fund Advisors LP lifted its position in Marathon Petroleum by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,153,636 shares of the oil and gas company’s stock worth $764,526,000 after purchasing an additional 137,341 shares during the period. Raymond James & Associates lifted its position in Marathon Petroleum by 1.9% during the first quarter. Raymond James & Associates now owns 4,178,977 shares of the oil and gas company’s stock worth $842,064,000 after purchasing an additional 76,920 shares during the period. Norges Bank bought a new stake in Marathon Petroleum during the fourth quarter worth about $500,685,000. Acadian Asset Management LLC lifted its position in Marathon Petroleum by 7.6% during the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after purchasing an additional 117,790 shares during the period. Finally, Capital Wealth Planning LLC lifted its position in Marathon Petroleum by 10,902.9% during the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after purchasing an additional 1,100,536 shares during the period. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

MPC has been the subject of several recent analyst reports. Scotiabank cut their price objective on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Piper Sandler lowered their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. StockNews.com downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Jefferies Financial Group boosted their target price on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Tudor Pickering raised Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $193.64.

Marathon Petroleum Trading Up 0.7 %

Shares of Marathon Petroleum stock traded up $1.15 on Friday, hitting $172.65. The stock had a trading volume of 1,580,847 shares, compared to its average volume of 2,678,637. The stock has a 50 day moving average of $171.80 and a 200 day moving average of $177.91. Marathon Petroleum Co. has a twelve month low of $128.07 and a twelve month high of $221.11. The firm has a market capitalization of $60.83 billion, a P/E ratio of 8.62, a PEG ratio of 2.02 and a beta of 1.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same period in the prior year, the business posted $6.09 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. Sell-side analysts expect that Marathon Petroleum Co. will post 13.84 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum 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.