Wall Street analysts expect Marathon Petroleum Corp (NYSE:MPC) to announce $22.88 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Marathon Petroleum’s earnings, with the highest sales estimate coming in at $23.76 billion and the lowest estimate coming in at $22.00 billion. Marathon Petroleum posted sales of $19.39 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 18%. The business is expected to issue its next earnings results before the market opens on Thursday, November 1st.

On average, analysts expect that Marathon Petroleum will report full year sales of $88.57 billion for the current year, with estimates ranging from $78.57 billion to $101.70 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $109.09 billion, with estimates ranging from $88.00 billion to $146.13 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.27 EPS for the quarter, topping the consensus estimate of $1.98 by $0.29. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.14 billion. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period last year, the firm posted $0.93 earnings per share.

Several analysts recently commented on the stock. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Sunday, July 15th. Royal Bank of Canada reiterated a “buy” rating and issued a $87.00 price objective on shares of Marathon Petroleum in a report on Friday, July 27th. JPMorgan Chase & Co. boosted their price objective on Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Mizuho assumed coverage on Marathon Petroleum in a report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Marathon Petroleum has an average rating of “Buy” and a consensus price target of $92.38.

Shares of MPC stock traded down $1.10 during trading hours on Tuesday, hitting $68.86. 7,837,688 shares of the company’s stock were exchanged, compared to its average volume of 9,525,544. The company has a market capitalization of $31.06 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.97 and a beta of 1.50. Marathon Petroleum has a 12-month low of $57.40 and a 12-month high of $88.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.60.

Hedge funds and other institutional investors have recently modified their holdings of the business. NEXT Financial Group Inc acquired a new position in Marathon Petroleum during the 3rd quarter worth approximately $124,000. Legacy Financial Advisors Inc. acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $113,000. Northwest Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $116,000. Norway Savings Bank acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $126,000. Finally, Destination Wealth Management acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $144,000. Institutional investors own 82.90% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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Earnings History and Estimates for Marathon Petroleum (NYSE:MPC)

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