Marathon Petroleum Corp (NYSE:MPC) – Research analysts at Piper Jaffray Companies dropped their Q2 2019 earnings per share (EPS) estimates for shares of Marathon Petroleum in a report issued on Wednesday, May 15th. Piper Jaffray Companies analyst B. Fernandez now expects that the oil and gas company will earn $1.50 per share for the quarter, down from their previous forecast of $2.00. Piper Jaffray Companies also issued estimates for Marathon Petroleum’s FY2019 earnings at $4.18 EPS, Q1 2020 earnings at $0.94 EPS, Q2 2020 earnings at $2.42 EPS, Q3 2020 earnings at $2.92 EPS, Q4 2020 earnings at $1.40 EPS and FY2020 earnings at $7.67 EPS.
MPC has been the subject of a number of other research reports. Cowen lowered Marathon Petroleum from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $90.00 to $65.00 in a research report on Friday, May 10th. Credit Suisse Group cut their price objective on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Royal Bank of Canada cut their price objective on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Raymond James cut their price objective on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 10th. Finally, Macquarie began coverage on Marathon Petroleum in a research report on Tuesday, February 5th. They set an “outperform” rating and a $67.18 price objective for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $85.68.
Shares of MPC stock opened at $51.95 on Friday. Marathon Petroleum has a 52-week low of $50.19 and a 52-week high of $88.45. The company has a quick ratio of 0.55, a current ratio of 1.20 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $33.92 billion, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 1.26 and a beta of 1.35.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.10). Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The business had revenue of $28.62 billion during the quarter, compared to analysts’ expectations of $27.70 billion. During the same quarter in the previous year, the company posted $0.08 EPS. The company’s quarterly revenue was up 50.7% on a year-over-year basis.
Large investors have recently made changes to their positions in the stock. Hanson McClain Inc. bought a new position in shares of Marathon Petroleum in the 4th quarter valued at about $25,000. Alpha Omega Wealth Management LLC lifted its holdings in shares of 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 acquiring an additional 250 shares during the last quarter. Certified Advisory Corp lifted its holdings in shares of Marathon Petroleum by 71.2% in the 4th quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 198 shares during the last quarter. SeaBridge Investment Advisors LLC bought a new position in shares of Marathon Petroleum in the 4th quarter valued at about $30,000. Finally, Claybrook Capital LLC bought a new position in shares of Marathon Petroleum in the 4th quarter valued at about $30,000. 77.93% of the stock is owned by hedge funds and other institutional investors.
In other Marathon Petroleum news, insider Donald C. Templin purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average price of $50.74 per share, with a total value of $253,700.00. Following the acquisition, the insider now owns 93,182 shares in the company, valued at $4,728,054.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary R. Heminger sold 187,142 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $65.00, for a total transaction of $12,164,230.00. Following the completion of the transaction, the chief executive officer now directly owns 434,166 shares of the company’s stock, valued at approximately $28,220,790. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.08%. Marathon Petroleum’s payout ratio is 31.27%.
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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