Marathon Petroleum Co. (NYSE:MPC) Position Increased by Berry Wealth Group LP

Berry Wealth Group LP grew its position in Marathon Petroleum Co. (NYSE:MPC) by 0.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 36,736 shares of the oil and gas company’s stock after purchasing an additional 336 shares during the period. Marathon Petroleum makes up 5.1% of Berry Wealth Group LP’s holdings, making the stock its 6th biggest position. Berry Wealth Group LP’s holdings in Marathon Petroleum were worth $6,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. FinTrust Capital Advisors LLC raised its position in Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter worth approximately $29,000. ICA Group Wealth Management LLC acquired a new stake in Marathon Petroleum during the 4th quarter valued at $30,000. Vima LLC purchased a new position in Marathon Petroleum during the fourth quarter worth $30,000. Finally, Manchester Capital Management LLC raised its holdings in shares of Marathon Petroleum by 97.2% in the fourth quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 106 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 3.6 %

Shares of NYSE MPC traded up $6.15 during midday trading on Friday, hitting $177.12. The stock had a trading volume of 3,460,905 shares, compared to its average volume of 2,308,623. The company has a fifty day moving average price of $171.47 and a 200 day moving average price of $180.24. The company has a market capitalization of $59.28 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 2.33 and a beta of 1.40. Marathon Petroleum Co. has a 1-year low of $139.32 and a 1-year high of $221.11. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the previous year, the firm earned $5.32 earnings per share. Marathon Petroleum’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MPC shares. Barclays cut their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. JPMorgan Chase & Co. cut their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. TD Cowen raised their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. StockNews.com downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $198.38.

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.