Berry Wealth Group LP Invests $3.12 Million in Marathon Petroleum Corporation $MPC

Berry Wealth Group LP bought a new stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,222 shares of the oil and gas company’s stock, valued at approximately $3,125,000. Marathon Petroleum makes up approximately 10.0% of Berry Wealth Group LP’s portfolio, making the stock its 3rd largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of MPC. Bell Investment Advisors Inc purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth $36,000. Main Street Group LTD purchased a new position in shares of Marathon Petroleum in the 1st quarter worth about $35,000. Cedar Mountain Advisors LLC bought a new position in Marathon Petroleum during the first quarter valued at about $40,000. Finally, Navalign LLC bought a new position in Marathon Petroleum during the fourth quarter valued at about $30,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Morgan Stanley increased their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. Mizuho lifted their price target on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Zacks Research downgraded Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $312.50.

Check Out Our Latest Report on Marathon Petroleum

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $362.18 on Friday. The firm has a market capitalization of $105.73 billion, a PE ratio of 12.45, a P/E/G ratio of 0.23 and a beta of 0.52. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The company has a 50-day moving average price of $297.25 and a two-hundred day moving average price of $254.23. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60.

Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.27 by $3.46. The company had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.96 earnings per share. Equities analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum’s dividend payout ratio is currently 13.75%.

Marathon Petroleum Profile

(Free Report)

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

See Also

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC — Free Report).

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