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Berry Wealth Group LP Sells 6,794 Shares of Marathon Petroleum Co. (NYSE:MPC)

Marathon Petroleum logo with Energy background

Berry Wealth Group LP trimmed its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 18.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,942 shares of the oil and gas company's stock after selling 6,794 shares during the period. Marathon Petroleum accounts for 3.5% of Berry Wealth Group LP's holdings, making the stock its 9th biggest position. Berry Wealth Group LP's holdings in Marathon Petroleum were worth $4,878,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Raymond James & Associates boosted its stake in Marathon Petroleum by 2.6% during the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company's stock worth $743,690,000 after purchasing an additional 107,915 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Marathon Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company's stock worth $620,815,000 after acquiring an additional 31,100 shares during the last quarter. Boston Partners grew its stake in Marathon Petroleum by 0.3% during the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company's stock valued at $558,390,000 after acquiring an additional 8,476 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Marathon Petroleum by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company's stock valued at $463,160,000 after acquiring an additional 209,270 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Marathon Petroleum by 7.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company's stock worth $335,241,000 after purchasing an additional 117,790 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on MPC. BMO Capital Markets cut their price target on Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Mizuho reduced their price target on Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Morgan Stanley cut their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. decreased their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Finally, Piper Sandler reduced their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $187.00.

Read Our Latest Report on Marathon Petroleum

Marathon Petroleum Trading Down 0.9 %

NYSE:MPC traded down $1.39 on Monday, reaching $156.91. 2,203,186 shares of the company's stock were exchanged, compared to its average volume of 2,680,519. The business has a fifty day moving average of $167.72 and a 200-day moving average of $175.38. 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 Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The firm has a market capitalization of $55.28 billion, a price-to-earnings ratio of 7.91, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $36.66 billion. During the same period in the prior year, the business earned $5.32 EPS. The firm's quarterly revenue was up 4.2% on a year-over-year basis. As a group, analysts expect that Marathon Petroleum Co. will post 10.22 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.825 per share. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.10%. Marathon Petroleum's dividend payout ratio (DPR) is 16.48%.

Marathon Petroleum Profile

(Free Report)

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.

Further Reading

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

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