Jefferies Group LLC restated their buy rating on shares of Marathon Petroleum Corporation (NYSE:MPC) in a research report sent to investors on Wednesday, September 6th. Jefferies Group LLC currently has a $64.00 price objective on the oil and gas company’s stock, down from their prior price objective of $65.00. Jefferies Group also issued estimates for Marathon Petroleum Corporation’s Q3 2017 earnings at $1.27 EPS, Q4 2017 earnings at $0.40 EPS, FY2017 earnings at $2.74 EPS, Q1 2018 earnings at ($0.02) EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.08 EPS, FY2018 earnings at $0.72 EPS, FY2019 earnings at $0.34 EPS, FY2020 earnings at $0.30 EPS and FY2021 earnings at $0.36 EPS.
Several other equities analysts also recently weighed in on the company. Bank of America Corporation downgraded Marathon Petroleum Corporation from a buy rating to a neutral rating in a research report on Tuesday, September 5th. Zacks Investment Research lowered Marathon Petroleum Corporation from a hold rating to a sell rating in a research note on Thursday, July 27th. Wells Fargo & Company lowered Marathon Petroleum Corporation from an outperform rating to a market perform rating and dropped their price target for the stock from $65.00 to $56.00 in a research note on Tuesday, September 5th. Royal Bank Of Canada restated a buy rating and set a $71.00 price target on shares of Marathon Petroleum Corporation in a research note on Thursday, August 31st. Finally, Scotiabank set a $55.00 price target on Marathon Petroleum Corporation and gave the stock a hold rating in a research note on Tuesday, July 11th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Marathon Petroleum Corporation currently has an average rating of Buy and a consensus price target of $59.67.
Shares of Marathon Petroleum Corporation (NYSE MPC) traded up 1.18% during mid-day trading on Wednesday, hitting $52.96. The company’s stock had a trading volume of 9,062,782 shares. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81. The company has a market cap of $26.81 billion, a PE ratio of 31.58 and a beta of 1.56. The stock has a 50-day moving average of $52.82 and a 200-day moving average of $52.06.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.01). Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The company had revenue of $18.35 billion during the quarter, compared to analysts’ expectations of $19.98 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that Marathon Petroleum Corporation will post $2.90 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is currently 90.91%.
A number of large investors have recently added to or reduced their stakes in MPC. Blue Chip Partners Inc. bought a new stake in shares of Marathon Petroleum Corporation in the 2nd quarter worth approximately $100,000. Guardian Life Insurance Co. of America lifted its holdings in shares of Marathon Petroleum Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 14 shares during the last quarter. FTB Advisors Inc. lifted its holdings in shares of Marathon Petroleum Corporation by 484.9% in the 1st quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 1,697 shares during the last quarter. Lee Financial Co lifted its holdings in shares of Marathon Petroleum Corporation by 2.4% in the 2nd quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 48 shares during the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in shares of Marathon Petroleum Corporation by 32.2% in the 1st quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after purchasing an additional 570 shares during the last quarter. 78.85% of the stock is currently owned by institutional investors.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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