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

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.

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

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.