Marathon Petroleum (MPC) Releases Earnings Results, Beats Estimates By $0.02 EPS

Marathon Petroleum (NYSE:MPC) posted its earnings results on Thursday. The oil and gas company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.02, Morningstar.com reports. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. The business had revenue of $23.13 billion for the quarter, compared to analyst estimates of $23.20 billion. During the same period last year, the business posted $1.77 EPS. Marathon Petroleum’s revenue was up 19.3% compared to the same quarter last year.

NYSE MPC traded down $1.59 during midday trading on Friday, hitting $69.49. The company had a trading volume of 5,668,791 shares, compared to its average volume of 7,974,152. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.60 and a quick ratio of 1.04. The firm has a market capitalization of $31.77 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 0.97 and a beta of 1.50. Marathon Petroleum has a fifty-two week low of $60.10 and a fifty-two week high of $88.45.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be given a $0.46 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $1.84 annualized dividend and a yield of 2.65%. Marathon Petroleum’s dividend payout ratio is 48.42%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legacy Financial Advisors Inc. acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $113,000. Northwest Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $116,000. NEXT Financial Group Inc acquired a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $124,000. Norway Savings Bank acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $126,000. Finally, Destination Wealth Management acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $144,000. Institutional investors own 83.02% of the company’s stock.

MPC has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Goldman Sachs Group initiated coverage on shares of Marathon Petroleum in a research note on Tuesday, October 2nd. They issued a “conviction-buy” rating on the stock. Citigroup raised their target price on shares of Marathon Petroleum from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Barclays initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 target price on the stock. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Marathon Petroleum in a research note on Monday, August 27th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $92.38.

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 for Marathon Petroleum (NYSE:MPC)

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