Marathon Petroleum Corp (NYSE:MPC) – Research analysts at Piper Jaffray Companies cut their Q2 2019 earnings per share estimates for Marathon Petroleum in a research note issued on Wednesday, May 15th. Piper Jaffray Companies analyst B. Fernandez now anticipates that the oil and gas company will earn $1.50 per share for the quarter, down from their prior estimate of $2.00. Piper Jaffray Companies also issued estimates for Marathon Petroleum’s FY2019 earnings at $4.18 EPS, Q1 2020 earnings at $0.94 EPS, Q2 2020 earnings at $2.42 EPS, Q3 2020 earnings at $2.92 EPS, Q4 2020 earnings at $1.40 EPS and FY2020 earnings at $7.67 EPS.
A number of other brokerages also recently issued reports on MPC. Macquarie began coverage on shares of Marathon Petroleum in a report on Tuesday, February 5th. They set an “outperform” rating and a $67.18 price target on the stock. Raymond James dropped their price target on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 10th. Citigroup dropped their price target on shares of Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, March 4th. ValuEngine downgraded shares of Marathon Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Finally, Morgan Stanley dropped their price target on shares of Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $85.68.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). The company had revenue of $28.62 billion for the quarter, compared to analysts’ expectations of $27.70 billion. Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. The business’s revenue was up 50.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Reliance Trust Co. of Delaware raised its stake in Marathon Petroleum by 2.4% during the 4th quarter. Reliance Trust Co. of Delaware now owns 6,595 shares of the oil and gas company’s stock worth $389,000 after acquiring an additional 157 shares during the period. Alpha Cubed Investments LLC raised its stake in Marathon Petroleum by 1.7% during the 4th quarter. Alpha Cubed Investments LLC now owns 9,810 shares of the oil and gas company’s stock worth $579,000 after acquiring an additional 162 shares during the period. FTB Advisors Inc. raised its stake in Marathon Petroleum by 5.5% during the 4th quarter. FTB Advisors Inc. now owns 3,174 shares of the oil and gas company’s stock worth $187,000 after acquiring an additional 165 shares during the period. Squar Milner Financial Services LLC raised its stake in Marathon Petroleum by 7.7% during the 1st quarter. Squar Milner Financial Services LLC now owns 2,353 shares of the oil and gas company’s stock worth $140,000 after acquiring an additional 168 shares during the period. Finally, Accurate Investment Solutions Inc. raised its stake in Marathon Petroleum by 4.1% during the 1st quarter. Accurate Investment Solutions Inc. now owns 4,370 shares of the oil and gas company’s stock worth $262,000 after acquiring an additional 173 shares during the period. 77.93% of the stock is currently owned by institutional investors.
In related news, CEO Gary R. Heminger sold 187,142 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $65.00, for a total value of $12,164,230.00. Following the transaction, the chief executive officer now owns 434,166 shares of the company’s stock, valued at $28,220,790. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald C. Templin acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average cost of $50.74 per share, for a total transaction of $253,700.00. Following the acquisition, the insider now owns 93,182 shares of the company’s stock, valued at approximately $4,728,054.68. The disclosure for this purchase can be found here. Company insiders own 1.06% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s payout ratio is 31.27%.
Marathon Petroleum Company Profile
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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