Berry Wealth Group LP Takes $6.05 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Berry Wealth Group LP bought a new position in Marathon Petroleum Co. (NYSE:MPC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 40,779 shares of the oil and gas company's stock, valued at approximately $6,050,000. Marathon Petroleum makes up about 5.6% of Berry Wealth Group LP's portfolio, making the stock its 4th biggest position.

A number of other institutional investors have also made changes to their positions in the company. Marino Stram & Associates LLC lifted its stake in shares of Marathon Petroleum by 0.5% in the fourth quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company's stock worth $1,695,000 after buying an additional 60 shares during the last quarter. SteelPeak Wealth LLC grew its position in shares of Marathon Petroleum by 0.3% in the fourth quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company's stock valued at $3,028,000 after purchasing an additional 67 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in shares of Marathon Petroleum by 4.5% in the fourth quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company's stock worth $231,000 after purchasing an additional 67 shares during the period. Mission Wealth Management LP lifted its position in shares of Marathon Petroleum by 0.8% during the 4th quarter. Mission Wealth Management LP now owns 8,756 shares of the oil and gas company's stock worth $1,299,000 after purchasing an additional 67 shares during the last quarter. Finally, Empower Advisory Group LLC increased its position in Marathon Petroleum by 1.6% in the 3rd quarter. Empower Advisory Group LLC now owns 4,465 shares of the oil and gas company's stock worth $676,000 after buying an additional 72 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Kim K.W. Rucker sold 1,000 shares of the business's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the sale, the director now owns 23,446 shares in the company, valued at $3,994,026.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

MPC has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $214.00 to $227.00 and gave the stock an "overweight" rating in a research note on Thursday, April 4th. Barclays boosted their price objective on shares of Marathon Petroleum from $168.00 to $221.00 and gave the stock an "overweight" rating in a report on Friday, April 5th. Scotiabank lifted their target price on Marathon Petroleum from $175.00 to $207.00 and gave the stock a "sector outperform" rating in a research report on Thursday, April 11th. TD Cowen increased their price objective on shares of Marathon Petroleum from $168.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, January 31st. Finally, Citigroup began coverage on shares of Marathon Petroleum in a research report on Wednesday, January 24th. They issued a "neutral" rating for the company. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $193.77.

Marathon Petroleum Price Performance

MPC traded down $2.75 during trading on Wednesday, hitting $178.97. The company's stock had a trading volume of 3,856,183 shares, compared to its average volume of 2,796,828. The company has a quick ratio of 1.13, a current ratio of 1.59 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $64.49 billion, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of 1.63 and a beta of 1.52. The firm's 50 day moving average price is $193.36 and its two-hundred day moving average price is $167.68. Marathon Petroleum Co. has a 12 month low of $104.32 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.25. The business had revenue of $32.71 billion during the quarter, compared to analysts' expectations of $32.07 billion. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $6.09 earnings per share. Sell-side analysts forecast that Marathon Petroleum Co. will post 20.49 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum's dividend payout ratio (DPR) is presently 14.02%.

About Marathon Petroleum

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.