$1.18 EPS Expected for Marathon Petroleum Corp (MPC) This Quarter

Brokerages predict that Marathon Petroleum Corp (NYSE:MPC) will post earnings of $1.18 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Marathon Petroleum’s earnings, with the highest EPS estimate coming in at $1.65 and the lowest estimate coming in at $0.69. Marathon Petroleum posted earnings per share of $1.05 during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.4%. The business is expected to issue its next earnings report on Thursday, February 7th.

On average, analysts expect that Marathon Petroleum will report full-year earnings of $5.06 per share for the current year, with EPS estimates ranging from $4.41 to $5.41. For the next fiscal year, analysts anticipate that the firm will post earnings of $7.10 per share, with EPS estimates ranging from $4.63 to $9.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.02. Marathon Petroleum had a net margin of 4.48% and a return on equity of 12.28%. The business had revenue of $23.13 billion for the quarter, compared to analyst estimates of $23.20 billion. During the same quarter last year, the firm earned $1.77 EPS. Marathon Petroleum’s quarterly revenue was up 19.3% compared to the same quarter last year.

Several research analysts recently weighed in on MPC shares. Royal Bank of Canada reissued a “buy” rating and set a $87.00 price objective on shares of Marathon Petroleum in a research note on Friday, July 27th. Tudor Pickering raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Tuesday, October 9th. Citigroup lifted their price objective on shares of Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Finally, Wells Fargo & Co restated a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Marathon Petroleum has an average rating of “Buy” and a consensus target price of $91.44.

In related news, Director Steven A. Davis bought 2,500 shares of the company’s stock in a transaction on Monday, November 19th. The shares were purchased at an average cost of $62.20 per share, for a total transaction of $155,500.00. Following the acquisition, the director now owns 16,462 shares of the company’s stock, valued at approximately $1,023,936.40. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.09% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MPC. Rational Advisors LLC raised its holdings in shares of Marathon Petroleum by 282.4% in the third quarter. Rational Advisors LLC now owns 1,480 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 1,093 shares during the last quarter. NEXT Financial Group Inc acquired a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $124,000. Legacy Financial Advisors Inc. acquired a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $113,000. Columbia Asset Management acquired a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $156,000. Finally, Destination Wealth Management acquired a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $144,000. Hedge funds and other institutional investors own 83.16% of the company’s stock.

Marathon Petroleum stock traded up $1.84 during midday trading on Thursday, hitting $63.73. 6,438,607 shares of the stock were exchanged, compared to its average volume of 7,172,324. Marathon Petroleum has a 52 week low of $60.64 and a 52 week high of $88.45. The firm has a market capitalization of $42.76 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 0.84 and a beta of 1.50. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.65 and a quick ratio of 1.09.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.84 annualized dividend and a yield of 2.89%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 48.42%.

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, 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.

Further Reading: Return on Equity (ROE)

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

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