Marathon Petroleum Corporation (NYSE:MPC) announced its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.29, reports. The firm had revenue of $19.36 billion for the quarter, compared to analysts’ expectations of $19.38 billion. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.52%. Marathon Petroleum Corporation’s revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 earnings per share.
Marathon Petroleum Corporation (MPC) traded up $0.06 during mid-day trading on Friday, reaching $61.72. 3,220,100 shares of the company traded hands, compared to its average volume of 4,415,190. The firm has a market capitalization of $30,115.50, a P/E ratio of 18.74, a P/E/G ratio of 1.56 and a beta of 1.59. Marathon Petroleum Corporation has a 1-year low of $42.57 and a 1-year high of $63.41. 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 also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Wednesday, November 15th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 49.08%.
A number of analysts have recently issued reports on MPC shares. BidaskClub lowered shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Jefferies Group LLC set a $65.00 price objective on shares of Marathon Petroleum Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Goldman Sachs Group, Inc. (The) lowered shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Barclays PLC restated an “overweight” rating and issued a $63.00 price target (up previously from $62.00) on shares of Marathon Petroleum Corporation in a research note on Tuesday, October 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $62.64.
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In related news, insider Anthony R. Kenney sold 77,578 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $62.35, for a total value of $4,836,988.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
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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