Marathon Petroleum Corp (MPC) Expected to Post Quarterly Sales of $19.70 Billion

Wall Street analysts expect Marathon Petroleum Corp (NYSE:MPC) to announce $19.70 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Marathon Petroleum’s earnings, with the highest sales estimate coming in at $22.76 billion and the lowest estimate coming in at $17.50 billion. Marathon Petroleum posted sales of $17.28 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 14%. The company is scheduled to issue its next earnings results before the market opens on Thursday, February 1st.

On average, analysts expect that Marathon Petroleum will report full year sales of $19.70 billion for the current fiscal year, with estimates ranging from $69.23 billion to $76.44 billion. For the next financial year, analysts anticipate that the business will report sales of $77.10 billion per share, with estimates ranging from $66.46 billion to $90.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.29. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The firm had revenue of $19.36 billion during the quarter, compared to analysts’ expectations of $19.38 billion. During the same quarter last year, the firm posted $0.58 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year.

A number of equities research analysts have commented on the company. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, October 16th. Goldman Sachs Group cut Marathon Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Scotiabank reissued a “hold” rating and issued a $75.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, January 10th. Cowen raised their price objective on Marathon Petroleum from $60.00 to $79.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. They noted that the move was a valuation call. Finally, Barclays raised their price objective on Marathon Petroleum from $63.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $70.33.

In other Marathon Petroleum news, insider Anthony R. Kenney sold 77,578 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Raymond L. Brooks sold 13,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $62.26, for a total value of $809,380.00. Following the completion of the transaction, the vice president now directly owns 32,205 shares in the company, valued at approximately $2,005,083.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 149,854 shares of company stock worth $9,482,177. 1.05% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of MPC. Thrivent Financial For Lutherans boosted its position in Marathon Petroleum by 1.4% in the second quarter. Thrivent Financial For Lutherans now owns 19,748 shares of the oil and gas company’s stock worth $1,033,000 after purchasing an additional 280 shares during the last quarter. Van ECK Associates Corp boosted its position in Marathon Petroleum by 31.6% in the second quarter. Van ECK Associates Corp now owns 5,600 shares of the oil and gas company’s stock worth $293,000 after purchasing an additional 1,344 shares during the last quarter. GSA Capital Partners LLP boosted its position in Marathon Petroleum by 93.2% in the second quarter. GSA Capital Partners LLP now owns 11,397 shares of the oil and gas company’s stock worth $596,000 after purchasing an additional 5,497 shares during the last quarter. D.A. Davidson & CO. boosted its position in Marathon Petroleum by 77.6% in the second quarter. D.A. Davidson & CO. now owns 12,061 shares of the oil and gas company’s stock worth $631,000 after purchasing an additional 5,269 shares during the last quarter. Finally, ETRADE Capital Management LLC boosted its position in Marathon Petroleum by 15.1% in the second quarter. ETRADE Capital Management LLC now owns 9,253 shares of the oil and gas company’s stock worth $484,000 after purchasing an additional 1,216 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Shares of Marathon Petroleum (MPC) traded up $0.40 during trading on Monday, reaching $71.89. The company’s stock had a trading volume of 3,894,300 shares, compared to its average volume of 3,384,577. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64. Marathon Petroleum has a 12-month low of $46.88 and a 12-month high of $72.52. The firm has a market capitalization of $35,660.00, a PE ratio of 22.47, a PEG ratio of 1.48 and a beta of 1.62.

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

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