Equities research analysts predict that Marathon Petroleum Corp (NYSE:MPC) will report $1.09 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Marathon Petroleum’s earnings. The lowest EPS estimate is $0.94 and the highest is $1.27. Marathon Petroleum reported earnings of $0.43 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 153.5%. The firm is scheduled to announce its next earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that Marathon Petroleum will report full-year earnings of $3.85 per share for the current fiscal year, with EPS estimates ranging from $3.24 to $4.08. For the next financial year, analysts expect that the firm will report earnings of $3.95 per share, with EPS estimates ranging from $1.04 to $5.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Marathon Petroleum.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.29. Marathon Petroleum had a net margin of 2.35% and a return on equity of 8.52%. The business had revenue of $19.36 billion for the quarter, compared to analyst estimates of $19.38 billion. During the same quarter in the prior year, the business posted $0.58 EPS. Marathon Petroleum’s revenue for the quarter was up 17.6% compared to the same quarter last year.
MPC has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Barclays increased their price objective on shares of Marathon Petroleum from $63.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. UBS Group lowered shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $63.00 to $65.00 in a research note on Sunday, November 26th. Cowen reiterated a “buy” rating and issued a $60.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, October 17th. Finally, Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Friday, November 10th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $67.83.
In related news, insider Anthony R. Kenney sold 77,578 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $62.35, for a total transaction of $4,836,988.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas M. Kelley sold 35,604 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $64.75, for a total transaction of $2,305,359.00. The disclosure for this sale can be found here. Insiders sold 149,854 shares of company stock worth $9,482,177 in the last quarter. Company insiders own 1.05% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. boosted its holdings in Marathon Petroleum by 61.6% during the third quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock worth $223,630,000 after buying an additional 1,520,471 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Marathon Petroleum by 2.3% during the third quarter. Parametric Portfolio Associates LLC now owns 2,320,761 shares of the oil and gas company’s stock worth $130,148,000 after buying an additional 52,667 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Marathon Petroleum during the third quarter worth $1,286,000. Tortoise Capital Advisors L.L.C. boosted its holdings in Marathon Petroleum by 3.5% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 44,950 shares of the oil and gas company’s stock worth $2,521,000 after buying an additional 1,524 shares in the last quarter. Finally, Americafirst Capital Management LLC purchased a new stake in Marathon Petroleum during the third quarter worth $332,000. 80.61% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Petroleum (NYSE:MPC) opened at $69.34 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. Marathon Petroleum has a 52 week low of $46.88 and a 52 week high of $69.46. The stock has a market cap of $33,544.15, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 1.24 and a beta of 1.61.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Thursday, November 16th were paid a $0.40 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.31%. Marathon Petroleum’s payout ratio is currently 49.08%.
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About Marathon Petroleum
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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