Zacks: Brokerages Anticipate Marathon Petroleum Corp (NYSE:MPC) to Announce $1.58 EPS

Wall Street analysts forecast that Marathon Petroleum Corp (NYSE:MPC) will report earnings of $1.58 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Marathon Petroleum’s earnings, with the highest EPS estimate coming in at $1.88 and the lowest estimate coming in at $1.09. Marathon Petroleum posted earnings of $1.70 per share in the same quarter last year, which would suggest a negative year over year growth rate of 7.1%. The firm is scheduled to issue its next earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Marathon Petroleum will report full year earnings of $4.40 per share for the current year, with EPS estimates ranging from $3.75 to $5.30. For the next financial year, analysts expect that the firm will post earnings of $7.80 per share, with EPS estimates ranging from $5.75 to $9.32. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.40. Marathon Petroleum had a return on equity of 9.55% and a net margin of 2.36%. The firm had revenue of $33.70 billion during the quarter, compared to analysts’ expectations of $33.26 billion. Marathon Petroleum’s revenue was up 50.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.27 earnings per share.

Several equities research analysts have issued reports on MPC shares. Raymond James boosted their price target on Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Zacks Investment Research downgraded Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, May 17th. Morgan Stanley decreased their target price on Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, May 17th. ValuEngine upgraded Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 22nd. Finally, Cowen downgraded Marathon Petroleum from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $90.00 to $65.00 in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Marathon Petroleum has a consensus rating of “Buy” and a consensus price target of $82.62.

Shares of MPC traded up $0.82 during trading hours on Friday, reaching $46.22. 4,952,900 shares of the company traded hands, compared to its average volume of 5,790,675. The stock has a fifty day simple moving average of $53.50 and a 200 day simple moving average of $56.73. The company has a quick ratio of 0.63, a current ratio of 1.24 and a debt-to-equity ratio of 0.69. Marathon Petroleum has a fifty-two week low of $43.96 and a fifty-two week high of $88.45. The stock has a market capitalization of $29.38 billion, a PE ratio of 6.82, a price-to-earnings-growth ratio of 1.25 and a beta of 1.68.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend is Tuesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 31.27%.

In other Marathon Petroleum news, Director James E. Rohr purchased 12,500 shares of Marathon Petroleum stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average price of $48.14 per share, for a total transaction of $601,750.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.06% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Alpha Omega Wealth Management LLC increased its stake in Marathon Petroleum by 135.1% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 250 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in Marathon Petroleum by 345.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 508 shares of the oil and gas company’s stock worth $28,000 after buying an additional 394 shares during the period. Bay Harbor Wealth Management LLC purchased a new position in Marathon Petroleum in the 1st quarter worth about $31,000. AllSquare Wealth Management LLC purchased a new position in Marathon Petroleum in the 1st quarter worth about $32,000. Finally, Tarbox Family Office Inc. increased its stake in Marathon Petroleum by 51.5% in the 2nd quarter. Tarbox Family Office Inc. now owns 568 shares of the oil and gas company’s stock worth $32,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 76.94% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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