Marathon Petroleum (NYSE:MPC) Releases Earnings Results, Misses Estimates By $0.10 EPS

Marathon Petroleum (NYSE:MPC) released its quarterly earnings data 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), MarketWatch Earnings reports. The firm had revenue of $28.62 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.08 earnings per share.

Shares of NYSE MPC opened at $47.11 on Friday. The company has a market capitalization of $32.36 billion, a P/E ratio of 6.95, a PEG ratio of 1.12 and a beta of 1.35. Marathon Petroleum has a 52 week low of $46.95 and a 52 week high of $88.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 1.20.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a $0.53 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.12 dividend on an annualized basis and a yield of 4.50%. Marathon Petroleum’s dividend payout ratio is currently 31.27%.

In other news, insider Donald C. Templin bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average price of $50.74 per share, for a total transaction of $253,700.00. Following the completion of the transaction, the insider now directly owns 93,182 shares in the company, valued at $4,728,054.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.06% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in MPC. Hanson McClain Inc. acquired a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $25,000. Alpha Omega Wealth Management LLC raised its stake in shares of Marathon Petroleum by 135.1% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock worth $26,000 after buying an additional 250 shares during the period. Certified Advisory Corp raised its stake in shares of Marathon Petroleum by 71.2% during the 4th quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock worth $28,000 after buying an additional 198 shares during the period. Kistler Tiffany Companies LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $30,000. Finally, SeaBridge Investment Advisors LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $30,000. 77.58% of the stock is owned by institutional investors.

MPC has been the topic of several analyst reports. Citigroup cut their target price on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Cowen lowered Marathon Petroleum from an “outperform” rating to a “market perform” rating and cut their target price for the company from $90.00 to $65.00 in a research note on Friday, May 10th. Macquarie began coverage on Marathon Petroleum in a research note on Tuesday, February 5th. They set an “outperform” rating and a $67.18 price target on the stock. Royal Bank of Canada dropped their price target on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, Wells Fargo & Co dropped their price target on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $85.68.

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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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Earnings History for Marathon Petroleum (NYSE:MPC)

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