Marathon Petroleum Corp Declares Quarterly Dividend of $0.50 (MPC)
Marathon Petroleum Corp (NYSE:MPC) announced a quarterly dividend on Wednesday, July 30th, American Banking News reports. Shareholders of record on Wednesday, August 20th will be paid a dividend of 0.50 per share on Wednesday, September 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.53%.
Several analysts have recently commented on the stock. Analysts at Wolfe Research upgraded shares of Marathon Petroleum Corp from a “market perform” rating to an “outperform” rating in a research note on Monday. On the ratings front, analysts at Macquarie reiterated an “outperform” rating on shares of Marathon Petroleum Corp in a research note on Friday, July 11th. They now have a $100.00 price target on the stock, down previously from $116.00. Finally, analysts at Citigroup Inc. upgraded shares of Marathon Petroleum Corp from a “neutral” rating to a “buy” rating in a research note on Friday, July 11th. They now have a $94.00 price target on the stock, down previously from $96.00. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $92.73.
Marathon Petroleum Corp (NYSE:MPC) traded down 0.82% on Wednesday, hitting $78.98. The stock had a trading volume of 3,167,596 shares. Marathon Petroleum Corp has a one year low of $61.32 and a one year high of $97.70. The stock has a 50-day moving average of $80.9 and a 200-day moving average of $86.47. The company has a market cap of $22.796 billion and a price-to-earnings ratio of 15.50.
Marathon Petroleum Corp (NYSE:MPC) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.67 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.05 by $0.38. The company had revenue of $23.35 billion for the quarter, compared to the consensus estimate of $23.26 billion. During the same quarter last year, the company posted $2.17 earnings per share. Marathon Petroleum Corp’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corp will post $7.45 earnings per share for the current fiscal year.
Marathon Petroleum Corporation (NYSE:MPC) is engaged in refining, transporting and marketing petroleum products in the United States.
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