Brokerages predict that Marathon Petroleum Co. (NYSE:MPC) will report sales of $15.94 billion for the current quarter, Zacks reports. Two analysts have made estimates for Marathon Petroleum’s earnings. The highest sales estimate is $16.88 billion and the lowest is $15.00 billion. Marathon Petroleum reported sales of $24.08 billion during the same quarter last year, which would suggest a negative year over year growth rate of 33.8%. The company is scheduled to announce its next earnings results on Tuesday, May 4th.
On average, analysts expect that Marathon Petroleum will report full-year sales of $65.45 billion for the current fiscal year, with estimates ranging from $60.00 billion to $69.62 billion. For the next financial year, analysts forecast that the firm will report sales of $73.61 billion, with estimates ranging from $60.00 billion to $83.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Marathon Petroleum.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Monday, February 1st. The oil and gas company reported ($0.94) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.47. Marathon Petroleum had a negative net margin of 11.11% and a negative return on equity of 1.81%. The business had revenue of $18.19 billion during the quarter, compared to the consensus estimate of $17.68 billion. During the same quarter last year, the firm earned $1.56 earnings per share. Marathon Petroleum’s quarterly revenue was down 35.4% on a year-over-year basis.
MPC has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised shares of Marathon Petroleum from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a report on Monday. Morgan Stanley raised their target price on shares of Marathon Petroleum from $39.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, December 11th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell decreased their price target on shares of Marathon Petroleum from $38.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 20th. Tudor Pickering upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Thursday, January 21st. Finally, UBS Group initiated coverage on shares of Marathon Petroleum in a report on Tuesday, January 26th. They set a “neutral” rating and a $47.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Marathon Petroleum has a consensus rating of “Buy” and an average target price of $44.27.
MPC traded up $0.64 during midday trading on Thursday, reaching $55.49. The company had a trading volume of 263,749 shares, compared to its average volume of 6,287,052. The stock has a market cap of $36.10 billion, a PE ratio of -3.67 and a beta of 2.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.32 and a current ratio of 1.84. The business has a 50-day moving average price of $46.44 and a two-hundred day moving average price of $38.09. Marathon Petroleum has a 12-month low of $15.26 and a 12-month high of $57.01.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 17th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Tuesday, February 16th. Marathon Petroleum’s payout ratio is presently 46.96%.
Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its position in Marathon Petroleum by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 4,271,066 shares of the oil and gas company’s stock worth $176,651,000 after buying an additional 132,248 shares during the period. Albion Financial Group UT acquired a new position in Marathon Petroleum during the fourth quarter worth $41,000. KCM Investment Advisors LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $270,000. EP Wealth Advisors LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $336,000. Finally, Truist Financial Corp boosted its position in Marathon Petroleum by 56.6% during the fourth quarter. Truist Financial Corp now owns 170,608 shares of the oil and gas company’s stock worth $7,057,000 after purchasing an additional 61,675 shares in the last quarter. Hedge funds and other institutional investors own 73.69% of the company’s stock.
Marathon Petroleum Company Profile
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, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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