2 Dividend Stocks to Buy According to Gilchrist Berg’s Water Street Capital

In this article, we will take a look at 2 dividend stocks to buy according to Gilchrist Berg’s Water Street Capital. If you want to see our detailed analysis of these stocks and the early beginnings of Mr. Berg, you can go directly to 7 Dividend Stocks to Buy According to Gilchrist Berg’s Water Street Capital.

2. Marathon Petroleum Corporation (NYSE:MPC)

Stake Value of Water Street Capital: $11,619,000

Percentage of Water Street Capital’s 13F Portfolio: 1.22%

Number of Hedge Fund Holders:  43

Dividend Yield as of December 5: 3.76%

Marathon Petroleum Corporation (NYSE:MPC) engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates in two segments: Refining & Marketing, and Midstream. As of December 5th, 2021, the stock’s forward dividend yield sits at 3.76% and its price-to-earnings ratio is 34.66.

Marathon Petroleum Corporation (NYSE:MPC) generated $32.61 billion in revenues for the fiscal third quarter of 2021. The company beat on revenue by $10.44 billion and saw a year-over-year increase of 85.85%, up from $17.55 billion in the third quarter of 2020. Marathon Petroleum Corporation (NYSE:MPC) also reported an EPS of $0.73, beating estimates by $0.03.

Insider Monkey identified 43 positions for Marathon Petroleum Corporation (NYSE:MPC) by the end of the third quarter of 2021. The total stakes of these hedge funds in the company were over $2.68 billion, up from $2.61 billion in the prior quarter when the stock was present in 48 hedge fund portfolios.

On 15th November, Wells Fargo analyst Roger Read raised his price target on Marathon Petroleum Corporation (NYSE:MPC) to $87 from $73 and reiterated an Overweight rating, in light of the analyst’s beliefs of bullishness surrounding the refining business in 2022.