Brokerages Anticipate Marathon Petroleum Corp (MPC) Will Post Earnings of $1.39 Per Share

Wall Street analysts expect Marathon Petroleum Corp (NYSE:MPC) to announce $1.39 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Marathon Petroleum’s earnings. The lowest EPS estimate is $0.85 and the highest is $1.63. Marathon Petroleum reported earnings of $1.77 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 21.5%. The company is expected to issue its next quarterly earnings report on Thursday, October 25th.

On average, analysts expect that Marathon Petroleum will report full-year earnings of $4.99 per share for the current financial year, with EPS estimates ranging from $4.16 to $6.19. For the next financial year, analysts forecast that the business will post earnings of $6.73 per share, with EPS estimates ranging from $4.63 to $9.00. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.29. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.14 billion. Marathon Petroleum had a net margin of 4.45% and a return on equity of 10.05%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS.

Several research analysts recently issued reports on the stock. Tudor Pickering downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. Royal Bank of Canada restated a “buy” rating and set a $87.00 target price on shares of Marathon Petroleum in a research report on Friday. JPMorgan Chase & Co. upped their target price on shares of Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday. ValuEngine downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 6th. Finally, Bank of America upgraded shares of Marathon Petroleum from a “neutral” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Thursday, May 10th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Marathon Petroleum presently has a consensus rating of “Buy” and an average target price of $84.38.

NYSE MPC traded up $0.83 on Friday, hitting $80.99. 5,450,941 shares of the company were exchanged, compared to its average volume of 4,950,020. The company has a market cap of $34.51 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.08 and a beta of 1.31. The company has a quick ratio of 1.12, a current ratio of 1.73 and a debt-to-equity ratio of 0.91. Marathon Petroleum has a 1-year low of $49.30 and a 1-year high of $83.33.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Thursday, August 16th will be given a dividend of $0.46 per share. The ex-dividend date is Wednesday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 2.27%. Marathon Petroleum’s payout ratio is presently 48.42%.

In other Marathon Petroleum news, insider Thomas M. Kelley sold 24,818 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $79.47, for a total transaction of $1,972,286.46. Following the transaction, the insider now directly owns 51,869 shares in the company, valued at approximately $4,122,029.43. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.09% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MPC. Advisors Preferred LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $101,000. Bruderman Asset Management LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $102,000. Bedel Financial Consulting Inc. bought a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $106,000. Legacy Financial Advisors Inc. bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at about $113,000. Finally, Northwest Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at about $116,000. Institutional investors own 79.32% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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