Toronto Dominion Bank Sells 8,955 Shares of Marathon Petroleum Co. (NYSE:MPC)

Toronto Dominion Bank trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 5.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,671 shares of the oil and gas company's stock after selling 8,955 shares during the period. Toronto Dominion Bank owned approximately 0.05% of Marathon Petroleum worth $27,315,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MPC. Wellington Management Group LLP raised its position in Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company's stock valued at $911,274,000 after purchasing an additional 4,328,470 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Marathon Petroleum by 2.6% during the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company's stock worth $743,690,000 after buying an additional 107,915 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Marathon Petroleum by 8.8% during the 3rd quarter. Pacer Advisors Inc. now owns 2,905,610 shares of the oil and gas company's stock worth $473,353,000 after buying an additional 235,795 shares during the last quarter. Bank of Montreal Can boosted its stake in Marathon Petroleum by 45.4% in the third quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company's stock valued at $217,560,000 after buying an additional 415,368 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Marathon Petroleum by 19,153.8% in the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company's stock valued at $213,605,000 after acquiring an additional 1,304,372 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Insider Activity at Marathon Petroleum

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Trading Down 3.7 %

NYSE MPC traded down $5.68 during mid-day trading on Thursday, reaching $146.29. 2,723,175 shares of the stock were exchanged, compared to its average volume of 2,618,012. The stock has a market cap of $47.02 billion, a P/E ratio of 12.04, a P/E/G ratio of 2.65 and a beta of 1.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a one year low of $142.57 and a one year high of $221.11. The stock has a 50 day simple moving average of $156.20 and a 200-day simple moving average of $165.42.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.90. The company had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm's revenue was down 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $8.14 EPS. On average, analysts anticipate that Marathon Petroleum Co. will post 9.5 EPS for the current year.

Marathon Petroleum declared that its Board of Directors has initiated a share repurchase program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.91 per share. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.49%. Marathon Petroleum's dividend payout ratio (DPR) is 28.84%.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of research reports. TD Cowen reissued a "buy" rating and issued a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday. Barclays cut their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Piper Sandler cut their price objective on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, September 20th. Finally, Citigroup lowered their target price on Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating for the company in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $185.27.

Marathon Petroleum Company 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.