Jefferies Group LLC reissued their buy rating on shares of Marathon Petroleum Corporation (NYSE:MPC) in a report published on Wednesday. They currently have a $64.00 price objective on the oil and gas company’s stock, down from their previous price objective of $65.00. Jefferies Group also issued estimates for Marathon Petroleum Corporation’s Q3 2017 earnings at $1.27 EPS, Q4 2017 earnings at $0.40 EPS, FY2017 earnings at $2.74 EPS, Q1 2018 earnings at ($0.02) EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.08 EPS, FY2018 earnings at $0.72 EPS, FY2019 earnings at $0.34 EPS, FY2020 earnings at $0.30 EPS and FY2021 earnings at $0.36 EPS.
Several other equities research analysts have also recently issued reports on MPC. US Capital Advisors reiterated a buy rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. Piper Jaffray Companies reiterated an overweight rating and issued a $62.00 price objective on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. Royal Bank Of Canada reiterated a buy rating and issued a $69.00 price objective on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. BidaskClub cut Marathon Petroleum Corporation from a buy rating to a hold rating in a report on Tuesday, June 27th. Finally, Scotiabank set a $55.00 price objective on Marathon Petroleum Corporation and gave the stock a hold rating in a report on Tuesday, July 11th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $59.16.
Shares of Marathon Petroleum Corporation (NYSE:MPC) opened at 53.42 on Wednesday. The firm’s 50-day moving average price is $53.18 and its 200 day moving average price is $51.96. The company has a market cap of $27.04 billion, a price-to-earnings ratio of 31.85 and a beta of 1.56. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81.
Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The firm had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Corporation will post $2.83 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 90.91%.
In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.05% of the company’s stock.
Large investors have recently bought and sold shares of the business. Blockhouse Capital Management LP acquired a new position in shares of Marathon Petroleum Corporation in the first quarter worth $14,970,000. Fox Run Management L.L.C. grew its stake in shares of Marathon Petroleum Corporation by 143.6% in the second quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock worth $1,402,000 after acquiring an additional 15,800 shares in the last quarter. Heritage Way Advisors LLC grew its stake in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock worth $1,935,000 after acquiring an additional 850 shares in the last quarter. Buckingham Asset Management LLC grew its stake in shares of Marathon Petroleum Corporation by 2.1% in the first quarter. Buckingham Asset Management LLC now owns 4,141 shares of the oil and gas company’s stock worth $209,000 after acquiring an additional 87 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Marathon Petroleum Corporation by 1.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,119,312 shares of the oil and gas company’s stock worth $56,570,000 after acquiring an additional 12,792 shares in the last quarter. Institutional investors and hedge funds own 78.85% of the company’s stock.
Marathon Petroleum Corporation Company Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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