Marathon Petroleum Corporation Expected to Earn Q3 2017 Earnings of $1.48 Per Share (MPC)
Marathon Petroleum Corporation (NYSE:MPC) – Research analysts at Jefferies Group issued their Q3 2017 earnings estimates for shares of Marathon Petroleum Corporation in a research note issued to investors on Monday. Jefferies Group analyst C. Goldman forecasts that the oil and gas company will earn $1.48 per share for the quarter. Jefferies Group has a “Buy” rating and a $64.00 price target on the stock. Jefferies Group also issued estimates for Marathon Petroleum Corporation’s Q4 2017 earnings at $0.45 EPS, FY2017 earnings at $2.99 EPS, Q1 2018 earnings at $0.05 EPS, Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $1.04 EPS, FY2019 earnings at $0.72 EPS, FY2020 earnings at $0.72 EPS and FY2021 earnings at $0.79 EPS.
Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.01). The business had revenue of $18.35 billion for the quarter, compared to analysts’ expectations of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. TRADEMARK VIOLATION NOTICE: This news story was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/10/19/marathon-petroleum-corporation-expected-to-earn-q3-2017-earnings-of-1-48-per-share-mpc.html.
Several other equities analysts also recently weighed in on the stock. Citigroup Inc. lifted their price target on shares of Marathon Petroleum Corporation from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Monday. Edward Jones raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Barclays PLC reaffirmed an “overweight” rating and set a $63.00 price target (up previously from $62.00) on shares of Marathon Petroleum Corporation in a report on Tuesday, October 10th. Finally, BidaskClub raised shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.63.
Shares of Marathon Petroleum Corporation (MPC) opened at 56.75 on Thursday. The company’s 50 day moving average is $54.73 and its 200-day moving average is $52.98. The stock has a market capitalization of $28.73 billion, a PE ratio of 33.84 and a beta of 1.56. Marathon Petroleum Corporation has a 52 week low of $40.01 and a 52 week high of $57.02.
In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.05% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Chip Partners Inc. bought a new position in shares of Marathon Petroleum Corporation in the second quarter worth about $100,000. Guardian Life Insurance Co. of America grew its holdings in shares of Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 14 shares during the last quarter. Lee Financial Co grew its holdings in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 48 shares during the last quarter. Jacobi Capital Management LLC grew its holdings in shares of Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after purchasing an additional 570 shares during the last quarter. Finally, First Interstate Bank grew its holdings in shares of Marathon Petroleum Corporation by 81.1% in the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock worth $124,000 after purchasing an additional 1,064 shares during the last quarter. Hedge funds and other institutional investors own 78.24% of the company’s stock.
Marathon Petroleum Corporation Company Profile
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.
Receive News & Stock Ratings for Marathon Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum Corporation and related stocks with our FREE daily email newsletter.