Marathon Petroleum Corp (MPC) Raises Dividend to $0.46 Per Share

Marathon Petroleum Corp (NYSE:MPC) declared a quarterly dividend on Monday, January 29th, RTT News reports. Shareholders of record on Wednesday, February 21st will be paid a dividend of 0.46 per share by the oil and gas company on Monday, March 12th. This represents a $1.84 annualized dividend and a yield of 2.56%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.40.

Marathon Petroleum has increased its dividend payment by an average of 18.2% annually over the last three years and has raised its dividend every year for the last 7 years. Marathon Petroleum has a dividend payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Marathon Petroleum to earn $4.67 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 34.3%.

Marathon Petroleum (NYSE MPC) opened at $71.74 on Monday. Marathon Petroleum has a 12 month low of $46.88 and a 12 month high of $73.53. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $35,038.69, a PE ratio of 21.81, a price-to-earnings-growth ratio of 1.08 and a beta of 1.61.

In other news, insider Anthony R. Kenney sold 77,578 shares of Marathon Petroleum stock in a transaction dated Monday, November 6th. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas M. Kelley sold 35,604 shares of Marathon Petroleum stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $64.75, for a total value of $2,305,359.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 149,854 shares of company stock valued at $9,482,177. Corporate insiders own 1.05% of the company’s stock.

Several research analysts have commented on MPC shares. Goldman Sachs Group downgraded Marathon Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Edward Jones upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Barclays restated an “overweight” rating and issued a $63.00 target price (up previously from $62.00) on shares of Marathon Petroleum in a research note on Tuesday, October 10th. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Monday, October 16th. Finally, Cowen restated a “buy” rating and issued a $60.00 target price on shares of Marathon Petroleum in a research note on Tuesday, October 17th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Marathon Petroleum currently has a consensus rating of “Buy” and a consensus target price of $70.33.

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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.

Dividend History for Marathon Petroleum (NYSE:MPC)

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