Equities analysts expect that Marathon Petroleum Corporation (NYSE:MPC) will announce sales of $19.48 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Marathon Petroleum Corporation’s earnings, with the highest sales estimate coming in at $22.16 billion and the lowest estimate coming in at $17.50 billion. Marathon Petroleum Corporation posted sales of $17.28 billion in the same quarter last year, which would indicate a positive year over year growth rate of 12.7%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 7th.
On average, analysts expect that Marathon Petroleum Corporation will report full year sales of $19.48 billion for the current financial year, with estimates ranging from $69.92 billion to $75.84 billion. For the next fiscal year, analysts expect that the firm will report sales of $73.06 billion per share, with estimates ranging from $65.87 billion to $80.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Marathon Petroleum Corporation.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.29. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.52%. The firm had revenue of $19.36 billion for the quarter, compared to analyst estimates of $19.38 billion. During the same quarter in the previous year, the business posted $0.58 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year.
A number of brokerages have commented on MPC. Cowen and Company boosted their price objective on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Friday. BidaskClub lowered shares of Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. 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 report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $54.83 price objective (down previously from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $62.64.
Marathon Petroleum Corporation (MPC) opened at $61.72 on Friday. Marathon Petroleum Corporation has a 1-year low of $42.57 and a 1-year high of $63.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80. The company has a market cap of $30,115.50, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 1.56 and a beta of 1.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 annualized dividend and a yield of 2.59%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 49.08%.
In related news, insider Anthony R. Kenney sold 77,578 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $62.35, for a total transaction of $4,836,988.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP C. Michael Palmer sold 11,450 shares of the 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. 1.05% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MPC. Principal Financial Group Inc. raised its stake in Marathon Petroleum Corporation by 312.4% during the second quarter. Principal Financial Group Inc. now owns 3,947,936 shares of the oil and gas company’s stock worth $206,595,000 after acquiring an additional 2,990,640 shares during the period. Third Point LLC bought a new position in Marathon Petroleum Corporation in the 3rd quarter worth about $154,220,000. Alliancebernstein L.P. grew its position in Marathon Petroleum Corporation by 93.3% in the 2nd quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock worth $278,998,000 after purchasing an additional 2,572,727 shares during the last quarter. Vanguard Group Inc. grew its position in Marathon Petroleum Corporation by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock worth $2,054,251,000 after purchasing an additional 1,544,114 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Marathon Petroleum Corporation by 61.6% in the 3rd quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock worth $223,630,000 after purchasing an additional 1,520,471 shares during the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.
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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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