Analysts Expect Marathon Petroleum Corp (NYSE:MPC) Will Post Earnings of -$1.28 Per Share

Wall Street brokerages expect Marathon Petroleum Corp (NYSE:MPC) to announce ($1.28) earnings per share for the current quarter, according to Zacks. Three analysts have provided estimates for Marathon Petroleum’s earnings, with the lowest EPS estimate coming in at ($1.75) and the highest estimate coming in at ($0.64). Marathon Petroleum posted earnings of $1.73 per share during the same quarter last year, which suggests a negative year over year growth rate of 174%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 6th.

On average, analysts expect that Marathon Petroleum will report full year earnings of ($2.13) per share for the current year, with EPS estimates ranging from ($3.76) to $0.11. For the next financial year, analysts expect that the firm will report earnings of $1.86 per share, with EPS estimates ranging from ($0.35) to $3.87. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 5th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.15. The firm had revenue of $24.08 billion during the quarter, compared to analysts’ expectations of $27.96 billion. Marathon Petroleum had a positive return on equity of 7.88% and a negative net margin of 5.48%. The company’s revenue was down 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS.

A number of research firms have issued reports on MPC. Royal Bank of Canada reiterated a “buy” rating and set a $40.00 target price on shares of Marathon Petroleum in a report on Wednesday, May 6th. Credit Suisse Group increased their target price on Marathon Petroleum from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Wells Fargo & Co reduced their price objective on shares of Marathon Petroleum from $67.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $82.00 to $74.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, ValuEngine upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $55.62.

MPC stock traded down $0.12 during trading hours on Monday, reaching $35.57. 5,660,481 shares of the stock were exchanged, compared to its average volume of 10,917,539. The firm’s 50-day moving average is $27.67 and its 200-day moving average is $46.67. The company has a market cap of $23.21 billion, a price-to-earnings ratio of -3.47 and a beta of 2.19. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.16 and a quick ratio of 0.61. Marathon Petroleum has a 12 month low of $15.26 and a 12 month high of $69.65.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a $0.58 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $2.32 annualized dividend and a yield of 6.52%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 46.96%.

Large investors have recently modified their holdings of the stock. Teza Capital Management LLC acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $413,000. Independent Advisor Alliance lifted its stake in Marathon Petroleum by 44.1% in the 4th quarter. Independent Advisor Alliance now owns 6,608 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 2,023 shares during the last quarter. ARP Americas LP lifted its stake in Marathon Petroleum by 30.0% in the 4th quarter. ARP Americas LP now owns 45,900 shares of the oil and gas company’s stock valued at $2,765,000 after purchasing an additional 10,600 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Marathon Petroleum by 15.7% in the 4th quarter. Alliancebernstein L.P. now owns 5,368,413 shares of the oil and gas company’s stock valued at $323,447,000 after purchasing an additional 730,249 shares during the last quarter. Finally, Hartree Partners LP acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $2,229,000. Institutional investors and hedge funds own 76.60% 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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Earnings History and Estimates for Marathon Petroleum (NYSE:MPC)

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