Marathon Petroleum Co. (NYSE:MPC) Declares Quarterly Dividend of $0.58

Marathon Petroleum Co. (NYSE:MPC) announced a quarterly dividend on Wednesday, October 28th, RTT News reports. Shareholders of record on Wednesday, November 18th will be paid a dividend of 0.58 per share by the oil and gas company on Thursday, December 10th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 8.44%.

Marathon Petroleum has increased its dividend by 55.9% over the last three years and has increased its dividend annually for the last 1 consecutive years.

Shares of NYSE MPC opened at $27.50 on Thursday. The stock has a market cap of $17.89 billion, a price-to-earnings ratio of -2.31 and a beta of 2.13. Marathon Petroleum has a 52 week low of $15.26 and a 52 week high of $69.65. The company’s 50-day moving average price is $29.98 and its 200 day moving average price is $33.55. The company has a current ratio of 1.27, a quick ratio of 0.57 and a debt-to-equity ratio of 0.99.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas company reported ($1.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.86) by $0.53. The firm had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $17.49 billion. Marathon Petroleum had a negative net margin of 7.55% and a positive return on equity of 3.04%. The firm’s revenue was down 54.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. As a group, research analysts expect that Marathon Petroleum will post -3.83 earnings per share for the current year.

A number of research firms have issued reports on MPC. JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $44.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, September 11th. Cowen upgraded shares of Marathon Petroleum from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $37.00 to $43.00 in a report on Wednesday, August 12th. Citigroup cut their price objective on shares of Marathon Petroleum from $38.00 to $30.00 in a report on Thursday, September 24th. Morgan Stanley cut their price objective on shares of Marathon Petroleum from $50.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Finally, Scotiabank cut their price objective on shares of Marathon Petroleum from $51.00 to $48.00 and set a “sector outperform” rating on the stock in a report on Monday, July 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Marathon Petroleum has an average rating of “Buy” and a consensus price target of $43.36.

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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Dividend History for Marathon Petroleum (NYSE:MPC)

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