FY2019 Earnings Forecast for Marathon Petroleum Corp (NYSE:MPC) Issued By Piper Jaffray Companies
Marathon Petroleum Corp (NYSE:MPC) – Research analysts at Piper Jaffray Companies dropped their FY2019 earnings per share (EPS) estimates for shares of Marathon Petroleum in a research note issued to investors on Monday, July 15th. Piper Jaffray Companies analyst B. Fernandez now expects that the oil and gas company will post earnings of $3.73 per share for the year, down from their prior forecast of $4.18.
Other equities research analysts have also recently issued reports about the stock. Credit Suisse Group cut their price objective on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. ValuEngine upgraded 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 research report on Friday, May 10th. Wells Fargo & Co dropped their price target on shares of Teva Pharmaceutical Industries from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Thursday, May 9th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a GBX 460 ($6.01) price target on shares of Sophos Group in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $85.68.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. The company had revenue of $28.62 billion for the quarter, compared to the consensus estimate of $27.70 billion. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Marathon Petroleum’s revenue for the quarter was up 50.7% compared to the same quarter last year.
In other Marathon Petroleum news, insider Donald C. Templin purchased 5,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average cost of $50.74 per share, for a total transaction of $253,700.00. Following the completion of the transaction, the insider now 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 through this hyperlink. Also, Director James E. Rohr purchased 12,500 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $48.14 per share, for a total transaction of $601,750.00. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Squar Milner Financial Services LLC increased its stake in Marathon Petroleum by 7.7% in 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 purchasing an additional 168 shares in the last quarter. Accurate Investment Solutions Inc. increased its stake in Marathon Petroleum by 4.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 4,370 shares of the oil and gas company’s stock worth $262,000 after purchasing an additional 173 shares in the last quarter. LS Investment Advisors LLC increased its stake in Marathon Petroleum by 0.7% in the 1st quarter. LS Investment Advisors LLC now owns 26,169 shares of the oil and gas company’s stock worth $1,566,000 after purchasing an additional 188 shares in the last quarter. Unison Advisors LLC increased its stake in Marathon Petroleum by 0.9% in the 2nd quarter. Unison Advisors LLC now owns 22,197 shares of the oil and gas company’s stock worth $1,240,000 after purchasing an additional 191 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Marathon Petroleum by 2.3% in the 1st quarter. Parallel Advisors LLC now owns 8,721 shares of the oil and gas company’s stock worth $522,000 after purchasing an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 77.42% of the company’s stock.
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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