Equities research analysts expect Marathon Petroleum Corporation (NYSE:MPC) to announce $17.75 billion in sales for the current quarter, according to Zacks. Three analysts have made estimates for Marathon Petroleum Corporation’s earnings. The lowest sales estimate is $17.10 billion and the highest is $18.65 billion. Marathon Petroleum Corporation posted sales of $16.46 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 7.8%. The firm is scheduled to announce its next quarterly earnings results on Thursday, October 26th.

On average, analysts expect that Marathon Petroleum Corporation will report full year sales of $17.75 billion for the current fiscal year, with estimates ranging from $66.54 billion to $72.09 billion. For the next financial year, analysts forecast that the business will post sales of $71.32 billion per share, with estimates ranging from $59.72 billion to $80.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Marathon Petroleum Corporation.

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

Several equities analysts have recently issued reports on MPC shares. Jefferies Group LLC reiterated a “buy” rating and set a $54.83 price target (down from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. BidaskClub upgraded Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Credit Suisse Group reiterated a “buy” rating and set a $64.00 price target on shares of Marathon Petroleum Corporation in a research report on Friday, July 14th. Royal Bank Of Canada reiterated a “buy” rating and set a $71.00 price target on shares of Marathon Petroleum Corporation in a research report on Thursday, August 31st. Finally, ValuEngine upgraded Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Marathon Petroleum Corporation presently has a consensus rating of “Buy” and an average target price of $60.27.

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In other news, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.05% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Blue Chip Partners Inc. acquired a new stake in shares of Marathon Petroleum Corporation in the second quarter worth $100,000. Guardian Life Insurance Co. of America boosted 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 worth $103,000 after buying an additional 14 shares during the period. Lee Financial Co boosted 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 worth $107,000 after buying an additional 48 shares during the period. Jacobi Capital Management LLC boosted 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 worth $116,000 after buying an additional 570 shares during the period. Finally, First Interstate Bank boosted its position in shares of Marathon Petroleum Corporation by 81.1% in the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock worth $124,000 after buying an additional 1,064 shares during the period. 78.25% of the stock is owned by institutional investors and hedge funds.

Shares of Marathon Petroleum Corporation (NYSE MPC) opened at 56.31 on Thursday. Marathon Petroleum Corporation has a 52-week low of $40.01 and a 52-week high of $56.81. The firm’s 50-day moving average price is $53.13 and its 200-day moving average price is $52.51. The stock has a market capitalization of $28.51 billion, a P/E ratio of 33.58 and a beta of 1.56.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 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.

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

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