Marathon Petroleum (NYSE:MPC) Announces Earnings Results

Marathon Petroleum (NYSE:MPC) released its earnings results on Tuesday. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25, Briefing.com reports. The company had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $6.09 EPS.

Marathon Petroleum Stock Down 9.3 %

Shares of Marathon Petroleum stock opened at $181.92 on Wednesday. The company has a market cap of $65.55 billion, a P/E ratio of 7.73, a PEG ratio of 1.63 and a beta of 1.52. The firm has a fifty day moving average of $193.36 and a two-hundred day moving average of $167.68. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 1.59. Marathon Petroleum has a one year low of $104.32 and a one year high of $221.11.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.81%. Marathon Petroleum’s dividend payout ratio is currently 14.02%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Raymond James increased their target price on Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 31st. The Goldman Sachs Group lifted their price target on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays upped their price objective on shares of Marathon Petroleum from $168.00 to $221.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Mizuho boosted their target price on Marathon Petroleum from $201.00 to $202.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, TD Cowen raised their price target on Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $193.77.

Insider Activity

In related news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the sale, the director now owns 23,446 shares in the company, valued at $3,994,026.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.