Marathon Petroleum Corporation (MPC) Expected to Earn Q1 2018 Earnings of ($0.02) Per Share

Marathon Petroleum Corporation (NYSE:MPC) – Analysts at Jefferies Group decreased their Q1 2018 earnings per share (EPS) estimates for shares of Marathon Petroleum Corporation in a research report issued on Wednesday. Jefferies Group analyst C. Goldman now anticipates that the oil and gas company will post earnings per share of ($0.02) for the quarter, down from their prior estimate of $0.03. Jefferies Group currently has a “Buy” rating and a $64.00 target price on the stock. Jefferies Group also issued estimates for Marathon Petroleum Corporation’s 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.

MPC has been the topic of several other reports. Scotiabank restated a “hold” rating and set a $55.00 price target on shares of Marathon Petroleum Corporation in a report on Friday, September 1st. BidaskClub upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Credit Suisse Group AG restated a “buy” rating and set a $64.00 price target on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. Royal Bank Of Canada restated a “buy” rating and set a $71.00 price target on shares of Marathon Petroleum Corporation in a report on Thursday, August 31st. Finally, Wells Fargo & Company cut Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $65.00 to $56.00 in a report on Tuesday, September 5th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $59.16.

WARNING: This piece of content was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another domain, it was copied illegally and republished in violation of international trademark & copyright laws. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/09/17/marathon-petroleum-corporation-mpc-expected-to-earn-q1-2018-earnings-of-0-02-per-share.html.

Marathon Petroleum Corporation (NYSE:MPC) opened at 53.42 on Friday. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81. The stock has a 50 day moving average of $53.18 and a 200 day moving average of $51.96. The company has a market cap of $27.04 billion, a price-to-earnings ratio of 31.85 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by $0.01. The business had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio is presently 90.91%.

In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.05% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Marathon Petroleum Corporation by 2,779.4% during the 1st quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock worth $2,836,372,000 after buying an additional 54,172,304 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Marathon Petroleum Corporation by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock worth $2,054,251,000 after buying an additional 1,544,114 shares in the last quarter. State Street Corp boosted its holdings in shares of Marathon Petroleum Corporation by 0.4% during the 1st quarter. State Street Corp now owns 28,029,983 shares of the oil and gas company’s stock worth $1,416,636,000 after buying an additional 107,894 shares in the last quarter. Boston Partners boosted its holdings in shares of Marathon Petroleum Corporation by 1.8% during the 1st quarter. Boston Partners now owns 14,798,820 shares of the oil and gas company’s stock worth $747,933,000 after buying an additional 267,469 shares in the last quarter. Finally, Kensico Capital Management Corp boosted its holdings in shares of Marathon Petroleum Corporation by 7.7% during the 1st quarter. Kensico Capital Management Corp now owns 9,260,000 shares of the oil and gas company’s stock worth $468,000,000 after buying an additional 660,000 shares in the last quarter. Hedge funds and other institutional investors own 78.85% of the company’s stock.

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.

Earnings History and Estimates for Marathon Petroleum Corporation (NYSE:MPC)

Receive News & Ratings for Marathon Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply