Marathon Petroleum Corp (NYSE:MPC) Expected to Announce Earnings of $1.02 Per Share

Wall Street analysts expect Marathon Petroleum Corp (NYSE:MPC) to report $1.02 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Marathon Petroleum’s earnings, with the lowest EPS estimate coming in at $0.66 and the highest estimate coming in at $1.29. Marathon Petroleum reported earnings of $2.41 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 57.7%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, January 29th.

On average, analysts expect that Marathon Petroleum will report full year earnings of $4.38 per share for the current financial year, with EPS estimates ranging from $4.12 to $4.70. For the next financial year, analysts anticipate that the company will post earnings of $7.46 per share, with EPS estimates ranging from $6.00 to $9.34. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.33. Marathon Petroleum had a net margin of 2.50% and a return on equity of 8.94%. The company had revenue of $31.20 billion for the quarter, compared to analyst estimates of $32.89 billion. During the same period in the prior year, the firm posted $1.70 EPS. The company’s quarterly revenue was up 34.9% on a year-over-year basis.

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Marathon Petroleum in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $75.00 price objective on the stock. Cowen upped their price objective on shares of Marathon Petroleum from $57.00 to $60.00 and gave the company a “market perform” rating in a research note on Wednesday, September 25th. Citigroup upped their price objective on shares of Marathon Petroleum from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Co upped their price objective on shares of Marathon Petroleum from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lowered shares of Marathon Petroleum from an “overweight” rating to a “neutral” rating and set a $67.00 target price on the stock. in a research note on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $73.83.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MPC. Boston Partners boosted its stake in shares of Marathon Petroleum by 77.8% in the third quarter. Boston Partners now owns 12,807,028 shares of the oil and gas company’s stock worth $778,559,000 after acquiring an additional 5,604,647 shares during the last quarter. Millennium Management LLC increased its position in Marathon Petroleum by 8,399.2% in the third quarter. Millennium Management LLC now owns 4,380,729 shares of the oil and gas company’s stock worth $266,129,000 after purchasing an additional 4,329,186 shares during the last quarter. Nuveen Asset Management LLC increased its position in Marathon Petroleum by 742.1% in the second quarter. Nuveen Asset Management LLC now owns 3,400,707 shares of the oil and gas company’s stock worth $190,032,000 after purchasing an additional 2,996,874 shares during the last quarter. Invesco Ltd. increased its position in Marathon Petroleum by 52.4% in the second quarter. Invesco Ltd. now owns 6,712,810 shares of the oil and gas company’s stock worth $375,112,000 after purchasing an additional 2,308,553 shares during the last quarter. Finally, Steadfast Capital Management LP increased its position in Marathon Petroleum by 45.6% in the second quarter. Steadfast Capital Management LP now owns 7,369,706 shares of the oil and gas company’s stock worth $411,819,000 after purchasing an additional 2,307,655 shares during the last quarter. Hedge funds and other institutional investors own 76.12% of the company’s stock.

NYSE:MPC opened at $57.11 on Monday. The firm’s fifty day moving average is $63.64 and its 200-day moving average is $55.90. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.62 and a current ratio of 1.25. Marathon Petroleum has a 52 week low of $43.96 and a 52 week high of $69.65. The firm has a market cap of $37.94 billion, a P/E ratio of 8.42, a P/E/G ratio of 1.34 and a beta of 1.67.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $2.12 annualized dividend and a yield of 3.71%. Marathon Petroleum’s payout ratio 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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