Zacks: Analysts Anticipate Marathon Petroleum Corporation (MPC) to Post $1.04 EPS
Wall Street brokerages forecast that Marathon Petroleum Corporation (NYSE:MPC) will announce earnings per share (EPS) of $1.04 for the current quarter, Zacks reports. Four analysts have made estimates for Marathon Petroleum Corporation’s earnings. The lowest EPS estimate is $0.63 and the highest is $1.28. Marathon Petroleum Corporation reported earnings of $0.58 per share during the same quarter last year, which would indicate a positive year over year growth rate of 79.3%. The firm is expected to announce its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Marathon Petroleum Corporation will report full-year earnings of $2.73 per share for the current year, with EPS estimates ranging from $2.05 to $3.50. For the next fiscal year, analysts anticipate that the company will post earnings of $2.90 per share, with EPS estimates ranging from $0.78 to $4.04. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Marathon Petroleum Corporation.
Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The company had revenue of $18.35 billion for 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%. Marathon Petroleum Corporation’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS.
A number of equities research analysts have issued reports on the company. BidaskClub upgraded Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Monday. Cowen and Company boosted their price target on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. 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 research note on Thursday, July 20th. Finally, US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $58.62.
Marathon Petroleum Corporation (NYSE:MPC) traded down 0.84% during trading on Tuesday, reaching $54.44. 2,312,201 shares of the company traded hands. The firm has a market capitalization of $27.55 billion, a price-to-earnings ratio of 31.34 and a beta of 1.56. The company’s 50-day moving average price is $53.87 and its 200 day moving average price is $51.38. Marathon Petroleum Corporation has a 52 week low of $38.37 and a 52 week high of $56.81.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. Marathon Petroleum Corporation’s payout ratio is 81.82%.
In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total value of $213,000.00. Following the completion of the transaction, the vice president now directly owns 61,757 shares in the company, valued at approximately $3,288,560.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The disclosure for this sale can be found here. Insiders sold a total of 33,568 shares of company stock valued at $1,808,969 over the last 90 days. 1.05% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Investment Advisors LLC increased its position in Marathon Petroleum Corporation by 0.4% in the first quarter. Capital Investment Advisors LLC now owns 6,401 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 24 shares during the last quarter. CGOV Asset Management increased its position in Marathon Petroleum Corporation by 30.0% in the first quarter. CGOV Asset Management now owns 13,000 shares of the oil and gas company’s stock valued at $875,000 after buying an additional 3,000 shares during the last quarter. Pinnacle Bank acquired a new position in Marathon Petroleum Corporation during the first quarter valued at $124,000. Cullinan Associates Inc. increased its position in Marathon Petroleum Corporation by 0.9% in the first quarter. Cullinan Associates Inc. now owns 129,810 shares of the oil and gas company’s stock valued at $6,561,000 after buying an additional 1,182 shares during the last quarter. Finally, Tompkins Financial Corp increased its position in Marathon Petroleum Corporation by 413.6% in the first quarter. Tompkins Financial Corp now owns 3,595 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 2,895 shares during the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.
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Marathon Petroleum Corporation Company Profile
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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