Todd Asset Management Lowers stake in Marathon Petroleum Corp (MPC)

Marathon Petroleum Corp (MPC) : Todd Asset Management reduced its stake in Marathon Petroleum Corp by 7.34% during the most recent quarter end. The investment management company now holds a total of 761,547 shares of Marathon Petroleum Corp which is valued at $31,390,967 after selling 60,350 shares in Marathon Petroleum Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Marathon Petroleum Corp makes up approximately 0.97% of Todd Asset Management’s portfolio.

Other Hedge Funds, Including , Shelton Capital Management reduced its stake in MPC by selling 2,700 shares or 10.8% in the most recent quarter. The Hedge Fund company now holds 22,298 shares of MPC which is valued at $919,124. Marathon Petroleum Corp makes up approx 0.08% of Shelton Capital Management’s portfolio.Retirement Systems Of Alabama boosted its stake in MPC in the latest quarter, The investment management firm added 1,581 additional shares and now holds a total of 270,116 shares of Marathon Petroleum Corp which is valued at $10,218,488. Marathon Petroleum Corp makes up approx 0.06% of Retirement Systems Of Alabama’s portfolio.1st Global Advisors reduced its stake in MPC by selling 664 shares or 7.04% in the most recent quarter. The Hedge Fund company now holds 8,774 shares of MPC which is valued at $331,833. Marathon Petroleum Corp makes up approx 0.04% of 1st Global Advisors’s portfolio.Cutler Group Lp boosted its stake in MPC in the latest quarter, The investment management firm added 3,015 additional shares and now holds a total of 10,496 shares of Marathon Petroleum Corp which is valued at $388,142. Marathon Petroleum Corp makes up approx 0.03% of Cutler Group Lp’s portfolio.

Marathon Petroleum Corp closed down -0.59 points or -1.43% at $40.63 with 72,58,673 shares getting traded on Thursday. Post opening the session at $41.19, the shares hit an intraday low of $40.32 and an intraday high of $41.66 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Marathon Petroleum Corp reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.98. The company had revenue of $16790.00 million for the quarter, compared to analysts expectations of $14500.00 million. The company’s revenue was down -18.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.51 EPS.

Investors should note that on Jul 27, 2016, Marathon Petroleum Corp announced a cash dividend of $0.3600. The company’s management has announced Aug 15, 2016 as the ex-dividend date and fixed the record date on Aug 17, 2016. The payable date has been fixed on Sep 12, 2016.

Many Wall Street Analysts have commented on Marathon Petroleum Corp. Marathon Petroleum Corp was Downgraded by Scotia Howard Weil to ” Sector Perform” on Jul 11, 2016.

Marathon Petroleum Corporation (MPC) is engaged petroleum product refining marketing retail and transportation businesses. It has three segments: Refining & Marketing which refines crude oil and other feedstocks at its seven refineries in the Gulf Coast and Midwest regions of the United States purchases ethanol and refined products for resale and distributes refined products; Speedway which sells transportation fuels and convenience products in the retail market in the Midwest East Coast and Southeast and Pipeline Transportation which transports crude oil and other feedstocks to its refineries and other locations delivers refined products to wholesale and retail market areas and includes the aggregated operations of MPLX LP.

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