Marathon Petroleum Corp. (MPC) Set to Announce Quarterly Earnings on Friday
Marathon Petroleum Corp. (NYSE:MPC) is set to issue its quarterly earnings data on Friday, November 18th.
Marathon Petroleum Corp. (NYSE:MPC) last issued its earnings results on Thursday, October 27th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by $0.23. The company had revenue of $16.46 billion for the quarter, compared to analysts’ expectations of $17.18 billion. Marathon Petroleum Corp. had a return on equity of 6.74% and a net margin of 1.84%. Marathon Petroleum Corp.’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 earnings per share. On average, analysts expect Marathon Petroleum Corp. to post $2.05 EPS for the current fiscal year and $3.41 EPS for the next fiscal year.
Shares of Marathon Petroleum Corp. (NYSE:MPC) opened at 43.83 on Wednesday. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 20.64 and a beta of 1.80. The firm’s 50 day moving average is $42.42 and its 200 day moving average is $39.51. Marathon Petroleum Corp. has a 12 month low of $29.24 and a 12 month high of $59.99.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Wednesday, November 16th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, November 14th. Marathon Petroleum Corp.’s dividend payout ratio is currently 67.61%.
Several brokerages have weighed in on MPC. Vetr raised Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 target price on the stock in a research report on Monday, August 22nd. TheStreet raised Marathon Petroleum Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. Piper Jaffray Cos. increased their target price on Marathon Petroleum Corp. from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, September 16th. Bank of America Corp. reaffirmed a “buy” rating on shares of Marathon Petroleum Corp. in a research report on Monday, September 26th. Finally, Jefferies Group set a $48.00 target price on Marathon Petroleum Corp. and gave the stock a “buy” rating in a research report on Saturday, October 15th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $52.78.
A number of large investors have recently made changes to their positions in MPC. BlackRock Inc. increased its stake in shares of Marathon Petroleum Corp. by 3.7% in the second quarter. BlackRock Inc. now owns 1,309,632 shares of the company’s stock valued at $49,713,000 after buying an additional 46,598 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Marathon Petroleum Corp. by 21.9% in the second quarter. BlackRock Fund Advisors now owns 9,733,911 shares of the company’s stock valued at $369,499,000 after buying an additional 1,750,344 shares in the last quarter. South Dakota Investment Council acquired a new stake in shares of Marathon Petroleum Corp. during the second quarter valued at about $2,608,000. Ameritas Investment Partners Inc. increased its stake in shares of Marathon Petroleum Corp. by 4.6% in the second quarter. Ameritas Investment Partners Inc. now owns 11,115 shares of the company’s stock valued at $422,000 after buying an additional 493 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in shares of Marathon Petroleum Corp. by 3.5% in the second quarter. Segall Bryant & Hamill LLC now owns 11,898 shares of the company’s stock valued at $452,000 after buying an additional 400 shares in the last quarter. 78.86% of the stock is owned by hedge funds and other institutional investors.
About Marathon Petroleum Corp.
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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