Marathon Petroleum Corporation (MPC) To Go Ex-Dividend on November 15th
Marathon Petroleum Corporation (NYSE:MPC) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Investors of record on Thursday, November 16th will be paid a dividend of 0.40 per share by the oil and gas company on Monday, December 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, November 15th.
Marathon Petroleum Corporation has raised its dividend payment by an average of 20.9% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Marathon Petroleum Corporation has a dividend payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Marathon Petroleum Corporation to earn $3.52 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 45.5%.
Marathon Petroleum Corporation (MPC) opened at $61.66 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. The company has a market cap of $30,877.42, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.63 and a beta of 1.59. Marathon Petroleum Corporation has a 12 month low of $42.57 and a 12 month high of $63.41.
Marathon Petroleum Corporation (NYSE:MPC) last issued its earnings results 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. The firm had revenue of $19.36 billion during the quarter, compared to the consensus estimate of $19.38 billion. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.52%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. analysts expect that Marathon Petroleum Corporation will post 3.53 EPS for the current year.
A number of brokerages recently weighed in on MPC. Cowen and Company boosted their price target on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. BidaskClub cut shares of Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Goldman Sachs Group, Inc. (The) cut shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $54.83 price target (down from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $62.07.
In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anthony R. Kenney sold 77,578 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $62.35, for a total transaction of $4,836,988.30. The disclosure for this sale can be found here. Corporate insiders own 1.05% 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.
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