Brokers Set Expectations for Marathon Petroleum Corp’s Q3 2019 Earnings (NYSE:MPC)

Marathon Petroleum Corp (NYSE:MPC) – Investment analysts at Piper Jaffray Companies issued their Q3 2019 EPS estimates for Marathon Petroleum in a report issued on Tuesday, August 6th. Piper Jaffray Companies analyst P. Flam anticipates that the oil and gas company will post earnings of $1.88 per share for the quarter. Piper Jaffray Companies also issued estimates for Marathon Petroleum’s Q4 2019 earnings at $1.04 EPS, FY2019 earnings at $4.53 EPS, Q1 2020 earnings at $1.28 EPS, Q2 2020 earnings at $1.51 EPS, Q3 2020 earnings at $2.66 EPS, Q4 2020 earnings at $1.28 EPS and FY2020 earnings at $7.72 EPS.

Several other equities analysts also recently issued reports on MPC. Raymond James boosted their price objective on Marathon Petroleum from $72.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Cowen downgraded Marathon Petroleum from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $90.00 to $65.00 in a research report on Friday, May 10th. Royal Bank of Canada reduced 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. Morgan Stanley reduced their price objective on Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, May 17th. Finally, Zacks Investment Research downgraded Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $82.62.

Shares of NYSE MPC opened at $48.39 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 1.24. The business’s 50 day simple moving average is $54.37. The firm has a market capitalization of $31.86 billion, a P/E ratio of 7.14, a PEG ratio of 1.37 and a beta of 1.68. Marathon Petroleum has a 12-month low of $45.47 and a 12-month high of $88.45.

Marathon Petroleum (NYSE:MPC) last issued 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. The business had revenue of $33.70 billion during the quarter, compared to the consensus estimate of $33.26 billion. Marathon Petroleum had a return on equity of 9.55% and a net margin of 2.36%. The business’s revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.27 earnings per share.

Large investors have recently made changes to their positions in the company. Alpha Omega Wealth Management LLC lifted its position in shares of Marathon Petroleum by 135.1% during 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. Wealthcare Advisory Partners LLC lifted its position in shares of Marathon Petroleum by 345.6% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 508 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 394 shares during the last quarter. Bay Harbor Wealth Management LLC acquired a new stake in Marathon Petroleum during the 1st quarter valued at $31,000. AllSquare Wealth Management LLC acquired a new stake in Marathon Petroleum during the 1st quarter valued at $32,000. Finally, CNB Bank raised its stake in Marathon Petroleum by 1,650.0% during the 1st quarter. CNB Bank now owns 560 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 528 shares during the period. Institutional investors own 77.34% of the company’s stock.

In related news, insider Donald C. Templin acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $50.74 per share, for a total transaction of $253,700.00. Following the transaction, the insider now owns 93,182 shares of the company’s stock, valued at $4,728,054.68. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James E. Rohr acquired 12,500 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were bought at an average price of $48.14 per share, with a total value of $601,750.00. The disclosure for this purchase can be found here. Corporate insiders own 1.06% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $2.12 dividend on an annualized basis and a yield of 4.38%. Marathon Petroleum’s dividend payout ratio (DPR) is 31.27%.

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

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