Marathon Petroleum Corporation (NYSE:MPC) Shareholders to Get $1.00 Quarterly Dividend

Marathon Petroleum Corporation (NYSE:MPC) declared a quarterly dividend on Wednesday, October 28th. Stockholders of record on Wednesday, November 18th will be given a dividend of $1.00 per share by the oil and gas company on Thursday, December 10th. This represents a $4.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 18th.

Marathon Petroleum has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 3 years. Marathon Petroleum has a payout ratio of 34.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Marathon Petroleum to earn $66.21 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 6.0%.

Marathon Petroleum Stock Up 1.0%

Shares of MPC opened at $440.25 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The company has a 50-day simple moving average of $414.63 and a 200-day simple moving average of $287.14. Marathon Petroleum has a 52 week low of $161.93 and a 52 week high of $493.98. The firm has a market capitalization of $128.52 billion, a P/E ratio of 15.13, a P/E/G ratio of 0.12 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same period last year, the business earned $3.96 earnings per share. On average, equities research analysts expect that Marathon Petroleum will post 64.12 earnings per share for the current year.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.