Wall Street brokerages expect Marathon Petroleum Corp (NYSE:MPC) to report $32.93 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Marathon Petroleum’s earnings, with the highest sales estimate coming in at $35.86 billion and the lowest estimate coming in at $30.00 billion. Marathon Petroleum posted sales of $18.98 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 73.5%. The company is scheduled to issue its next earnings results on Monday, April 29th.
On average, analysts expect that Marathon Petroleum will report full-year sales of $121.74 billion for the current fiscal year, with estimates ranging from $87.01 billion to $158.23 billion. For the next financial year, analysts anticipate that the firm will report sales of $132.24 billion, with estimates ranging from $99.45 billion to $177.26 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Marathon Petroleum.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.43. Marathon Petroleum had a return on equity of 14.14% and a net margin of 2.86%. The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $34.16 billion. During the same period last year, the company earned $1.05 earnings per share. The company’s revenue for the quarter was up 53.2% on a year-over-year basis.
MPC has been the subject of several recent research reports. Citigroup decreased their price target on Marathon Petroleum from $104.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, December 6th. Cowen reaffirmed an “outperform” rating and set a $101.00 price target (up from $87.00) on shares of Marathon Petroleum in a report on Thursday, December 6th. They noted that the move was a valuation call. ValuEngine raised Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, December 6th. Standpoint Research initiated coverage on Marathon Petroleum in a report on Wednesday, December 26th. They set an “accumulate” rating for the company. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Marathon Petroleum in a report on Thursday, January 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $92.85.
In other Marathon Petroleum news, CEO Gary R. Heminger sold 187,142 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total value of $12,164,230.00. Following the completion of the transaction, the chief executive officer now owns 434,166 shares in the company, valued at $28,220,790. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.06% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd increased its position in shares of Marathon Petroleum by 73.3% in the third quarter. Point72 Hong Kong Ltd now owns 19,007 shares of the oil and gas company’s stock valued at $1,520,000 after buying an additional 8,040 shares in the last quarter. Greatmark Investment Partners Inc. increased its position in shares of Marathon Petroleum by 347.8% in the fourth quarter. Greatmark Investment Partners Inc. now owns 38,530 shares of the oil and gas company’s stock valued at $2,274,000 after buying an additional 29,925 shares in the last quarter. Barings LLC increased its position in shares of Marathon Petroleum by 30.5% in the fourth quarter. Barings LLC now owns 51,550 shares of the oil and gas company’s stock valued at $3,042,000 after buying an additional 12,050 shares in the last quarter. Kwmg LLC increased its position in shares of Marathon Petroleum by 14.9% in the fourth quarter. Kwmg LLC now owns 32,755 shares of the oil and gas company’s stock valued at $1,933,000 after buying an additional 4,259 shares in the last quarter. Finally, Investec Asset Management LTD increased its position in shares of Marathon Petroleum by 452.8% in the fourth quarter. Investec Asset Management LTD now owns 492,095 shares of the oil and gas company’s stock valued at $29,039,000 after buying an additional 403,079 shares in the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.
Shares of NYSE MPC opened at $60.38 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.36 and a quick ratio of 0.62. Marathon Petroleum has a 1-year low of $54.29 and a 1-year high of $88.45. The firm has a market cap of $40.36 billion, a P/E ratio of 8.91, a P/E/G ratio of 1.21 and a beta of 1.37.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 20th were given a $0.53 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.46. The ex-dividend date was Tuesday, February 19th. This represents a $2.12 annualized dividend and a yield of 3.51%. Marathon Petroleum’s dividend payout ratio is presently 31.27%.
About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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