Toronto Dominion Bank Raises Holdings in Marathon Petroleum Corporation (MPC)

Toronto Dominion Bank boosted its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 22.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,838 shares of the oil and gas company’s stock after acquiring an additional 33,384 shares during the quarter. Toronto Dominion Bank’s holdings in Marathon Petroleum Corporation were worth $9,410,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MPC. Blue Chip Partners Inc. bought a new stake in Marathon Petroleum Corporation in the second quarter worth about $100,000. Guardian Life Insurance Co. of America raised its position in Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after acquiring an additional 14 shares in the last quarter. Lee Financial Co raised its position in Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after acquiring an additional 48 shares in the last quarter. Jacobi Capital Management LLC raised its position in Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 570 shares in the last quarter. Finally, First Interstate Bank raised its position in Marathon Petroleum Corporation by 81.1% in the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock worth $124,000 after acquiring an additional 1,064 shares in the last quarter. Hedge funds and other institutional investors own 78.24% of the company’s stock.

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In other news, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.05% of the company’s stock.

Shares of Marathon Petroleum Corporation (NYSE:MPC) traded up 1.18% during trading on Tuesday, hitting $56.38. The stock had a trading volume of 913,496 shares. The company has a market capitalization of $28.54 billion, a price-to-earnings ratio of 33.62 and a beta of 1.56. The firm has a 50 day moving average of $54.42 and a 200 day moving average of $52.87. Marathon Petroleum Corporation has a 1-year low of $40.01 and a 1-year high of $57.02.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.01). The business had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. Analysts expect that Marathon Petroleum Corporation will post $3.06 EPS for the current fiscal year.

MPC has been the topic of several research reports. BidaskClub cut shares of Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Scotiabank reiterated a “hold” rating and issued a $55.00 price target on shares of Marathon Petroleum Corporation in a research report on Friday, September 1st. Cowen and Company boosted their price target on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Edward Jones upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $60.50.

Marathon Petroleum Corporation Company Profile

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

Institutional Ownership by Quarter for Marathon Petroleum Corporation (NYSE:MPC)

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