Marathon Petroleum Corporation (NYSE:MPC) posted its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.29, reports. The firm had revenue of $19.36 billion for the quarter, compared to analysts’ expectations of $19.38 billion. Marathon Petroleum Corporation had a return on equity of 8.52% and a net margin of 2.35%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 EPS.
Shares of Marathon Petroleum Corporation (NYSE:MPC) traded up $0.06 during trading hours on Friday, reaching $61.72. The company’s stock had a trading volume of 3,220,100 shares, compared to its average volume of 4,138,471. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64. Marathon Petroleum Corporation has a fifty-two week low of $42.57 and a fifty-two week high of $63.41. The company has a market cap of $30,144.79, a PE ratio of 18.76, a PEG ratio of 1.57 and a beta of 1.59.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.59%. The ex-dividend date is Wednesday, November 15th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is presently 49.08%.
In other news, insider Anthony R. Kenney sold 77,578 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $62.35, for a total transaction of $4,836,988.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub upgraded Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC restated a “buy” rating and set a $54.83 price target (down from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Cowen and Company increased their price target on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) cut Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and set a $63.00 target price on the stock. in a report on Tuesday, October 3rd. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Marathon Petroleum Corporation has an average rating of “Buy” and a consensus target price of $62.64.
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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