Brokerages Expect Marathon Petroleum Co. (MPC) to Announce $0.24 Earnings Per Share

Equities analysts expect that Marathon Petroleum Co. (NYSE:MPC) will post earnings of $0.24 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Marathon Petroleum’s earnings, with the highest EPS estimate coming in at $0.57 and the lowest estimate coming in at $0.00. Marathon Petroleum reported earnings per share of $0.06 in the same quarter last year, which would suggest a positive year over year growth rate of 300%. The firm is scheduled to issue its next earnings report before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Marathon Petroleum will report full-year earnings of $4.59 per share for the current fiscal year, with EPS estimates ranging from $2.95 to $6.19. For the next year, analysts anticipate that the company will report earnings of $5.26 per share, with EPS estimates ranging from $2.57 to $7.14. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Marathon Petroleum.

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Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.05. Marathon Petroleum had a net margin of 4.60% and a return on equity of 9.90%. The firm had revenue of $21.24 billion during the quarter, compared to analyst estimates of $17.27 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Marathon Petroleum’s quarterly revenue was up 22.9% on a year-over-year basis.

MPC has been the subject of a number of analyst reports. Citigroup reissued a “buy” rating and issued a $79.00 price objective on shares of Marathon Petroleum in a report on Friday, February 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $89.00 price objective on shares of Marathon Petroleum in a report on Tuesday, January 30th. Piper Jaffray reissued a “buy” rating and issued a $90.00 price objective on shares of Marathon Petroleum in a report on Friday, February 23rd. Barclays reissued a “buy” rating and issued a $90.00 price objective on shares of Marathon Petroleum in a report on Friday, February 16th. Finally, Goldman Sachs raised shares of Marathon Petroleum from a “neutral” rating to a “buy” rating in a report on Tuesday, February 13th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $80.80.

Shares of MPC opened at $77.52 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.28 and a debt-to-equity ratio of 0.59. Marathon Petroleum has a 12-month low of $47.78 and a 12-month high of $77.92. The stock has a market capitalization of $35,509.29, a P/E ratio of 20.40, a PEG ratio of 1.12 and a beta of 1.33.

In related news, Director Charles E. Bunch bought 1,500 shares of the stock in a transaction on Tuesday, March 6th. The stock was bought at an average price of $67.38 per share, with a total value of $101,070.00. Following the completion of the purchase, the director now directly owns 12,853 shares in the company, valued at approximately $866,035.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas M. Kelley sold 20,000 shares of the stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $69.77, for a total transaction of $1,395,400.00. The disclosure for this sale can be found here. Company insiders own 1.09% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Marathon Petroleum by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 5,870,292 shares of the oil and gas company’s stock worth $386,599,000 after purchasing an additional 367,650 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Marathon Petroleum by 9.9% during the fourth quarter. Bank of New York Mellon Corp now owns 5,209,413 shares of the oil and gas company’s stock worth $343,716,000 after purchasing an additional 470,220 shares in the last quarter. Millennium Management LLC lifted its position in shares of Marathon Petroleum by 24.3% during the fourth quarter. Millennium Management LLC now owns 5,209,211 shares of the oil and gas company’s stock worth $343,704,000 after purchasing an additional 1,019,354 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Marathon Petroleum by 28.1% during the fourth quarter. Deutsche Bank AG now owns 4,208,375 shares of the oil and gas company’s stock worth $277,664,000 after purchasing an additional 923,646 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Marathon Petroleum by 61.6% during the third quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock worth $223,630,000 after purchasing an additional 1,520,471 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Marathon Petroleum (NYSE:MPC)

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