$30.82 Billion in Sales Expected for Marathon Petroleum Corp (NYSE:MPC) This Quarter

Analysts forecast that Marathon Petroleum Corp (NYSE:MPC) will report $30.82 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Marathon Petroleum’s earnings, with estimates ranging from $30.00 billion to $31.65 billion. Marathon Petroleum reported sales of $22.45 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 37.3%. The company is scheduled to announce its next earnings report before the market opens on Thursday, August 1st.

On average, analysts expect that Marathon Petroleum will report full year sales of $115.47 billion for the current fiscal year, with estimates ranging from $92.87 billion to $135.14 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $130.21 billion, with estimates ranging from $90.60 billion to $180.04 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.10). The business had revenue of $28.62 billion during the quarter, compared to the consensus estimate of $27.70 billion. Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The business’s revenue for the quarter was up 50.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share.

MPC has been the subject of several research analyst reports. Royal Bank of Canada raised their target price on shares of Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the company a “sector perform” rating in a research note on Thursday, May 9th. ValuEngine raised shares of Westpac Banking from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Cowen reiterated a “buy” rating on shares of G1 Therapeutics in a report on Friday, May 10th. Zacks Investment Research upgraded shares of HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, Credit Suisse Group reduced their price target on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Marathon Petroleum currently has an average rating of “Buy” and a consensus target price of $85.68.

Shares of NYSE:MPC traded up $0.04 during midday trading on Friday, hitting $55.48. 3,791,900 shares of the stock traded hands, compared to its average volume of 6,841,272. The stock has a market cap of $36.73 billion, a PE ratio of 8.18, a PEG ratio of 1.43 and a beta of 1.65. The stock’s 50 day simple moving average is $50.90. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.20 and a quick ratio of 0.55. Marathon Petroleum has a one year low of $45.47 and a one year high of $88.45.

In related news, Director James E. Rohr acquired 12,500 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were bought at an average price of $48.14 per share, with a total value of $601,750.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald C. Templin acquired 5,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were bought 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.

Several institutional investors have recently made changes to their positions in the company. Deprince Race & Zollo Inc. purchased a new stake in Marathon Petroleum in the fourth quarter worth about $28,588,000. Commonwealth Equity Services LLC grew its holdings in Marathon Petroleum by 6.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 107,390 shares of the oil and gas company’s stock worth $6,337,000 after purchasing an additional 6,553 shares during the period. Castleark Management LLC grew its holdings in Marathon Petroleum by 24.8% in the fourth quarter. Castleark Management LLC now owns 64,588 shares of the oil and gas company’s stock worth $3,811,000 after purchasing an additional 12,838 shares during the period. Van ECK Associates Corp grew its holdings in Marathon Petroleum by 20.9% in the fourth quarter. Van ECK Associates Corp now owns 64,667 shares of the oil and gas company’s stock worth $3,816,000 after purchasing an additional 11,181 shares during the period. Finally, Employees Retirement System of Texas grew its holdings in Marathon Petroleum by 33.4% in the fourth quarter. Employees Retirement System of Texas now owns 69,387 shares of the oil and gas company’s stock worth $4,095,000 after purchasing an additional 17,387 shares during the period. 77.44% of the stock is currently owned by institutional investors and hedge funds.

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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