Marathon Petroleum Corporation (NYSE:MPC) – Investment analysts at US Capital Advisors reduced their Q3 2018 earnings per share (EPS) estimates for Marathon Petroleum Corporation in a report released on Thursday. US Capital Advisors analyst C. Weiland now anticipates that the oil and gas company will earn $1.11 per share for the quarter, down from their previous forecast of $1.17. US Capital Advisors currently has a “Buy” rating on the stock.

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

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A number of other brokerages have also recently issued reports on MPC. BidaskClub cut shares of Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Cowen and Company boosted their target price on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Citigroup Inc. reissued a “buy” rating and set a $67.00 target price (down previously from $68.50) on shares of Marathon Petroleum Corporation in a report on Saturday, April 22nd. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Credit Suisse Group reissued a “buy” rating and set a $64.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $58.62.

Shares of Marathon Petroleum Corporation (NYSE MPC) traded up 0.28% during midday trading on Friday, reaching $49.84. The company had a trading volume of 1,093,537 shares. The company has a 50 day moving average price of $54.07 and a 200-day moving average price of $51.69. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81. The firm has a market capitalization of $25.23 billion, a P/E ratio of 29.72 and a beta of 1.56.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MPC. Blue Chip Partners Inc. bought a new position in shares of Marathon Petroleum Corporation during the second quarter valued at about $100,000. Guardian Life Insurance Co. of America raised its position in shares of Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 14 shares during the period. FTB Advisors Inc. raised its position in shares of Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,697 shares during the period. Lee Financial Co raised its position in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 48 shares during the period. Finally, Jacobi Capital Management LLC raised its position in shares of Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 570 shares during the period. 81.36% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP C. Michael Palmer sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.60 annualized dividend and a dividend yield of 3.22%. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio is presently 90.91%.

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)

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