Equities analysts predict that Marathon Petroleum Corp (NYSE:MPC) will announce sales of $22.88 billion for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Marathon Petroleum’s earnings. The lowest sales estimate is $22.00 billion and the highest is $23.76 billion. Marathon Petroleum posted sales of $19.39 billion during the same quarter last year, which would indicate a positive year over year growth rate of 18%. The business is scheduled to issue its next earnings report on Thursday, October 25th.

On average, analysts expect that Marathon Petroleum will report full-year sales of $87.40 billion for the current year, with estimates ranging from $75.07 billion to $101.70 billion. For the next year, analysts forecast that the company will post sales of $96.54 billion, with estimates ranging from $76.50 billion to $125.13 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Marathon Petroleum.

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

Several equities research analysts have commented on the company. Zacks Investment Research downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Citigroup boosted their target price on Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Goldman Sachs Group assumed coverage on Marathon Petroleum in a report on Tuesday, October 2nd. They issued a “conviction-buy” rating on the stock. Wells Fargo & Co reissued a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $87.00 target price on shares of Marathon Petroleum in a report on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Marathon Petroleum presently has an average rating of “Buy” and an average target price of $91.75.

Hedge funds have recently bought and sold shares of the company. Cypress Capital Group raised its stake in shares of Marathon Petroleum by 184.3% in the second quarter. Cypress Capital Group now owns 27,957 shares of the oil and gas company’s stock worth $1,961,000 after purchasing an additional 18,124 shares during the last quarter. Cozad Asset Management Inc. purchased a new position in shares of Marathon Petroleum in the second quarter worth $694,000. WINTON GROUP Ltd raised its stake in shares of Marathon Petroleum by 8.4% in the second quarter. WINTON GROUP Ltd now owns 135,374 shares of the oil and gas company’s stock worth $9,498,000 after purchasing an additional 10,529 shares during the last quarter. Andra AP fonden purchased a new position in shares of Marathon Petroleum in the second quarter worth $6,258,000. Finally, Rothschild Asset Management Inc. raised its stake in shares of Marathon Petroleum by 60.7% in the second quarter. Rothschild Asset Management Inc. now owns 871,639 shares of the oil and gas company’s stock worth $61,154,000 after purchasing an additional 329,307 shares during the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

Shares of NYSE MPC traded up $1.35 during mid-day trading on Friday, hitting $80.08. 7,341,944 shares of the stock traded hands, compared to its average volume of 5,217,578. The company has a quick ratio of 1.04, a current ratio of 1.60 and a debt-to-equity ratio of 0.92. Marathon Petroleum has a 52 week low of $55.68 and a 52 week high of $88.45. The firm has a market capitalization of $36.07 billion, a PE ratio of 21.07, a P/E/G ratio of 1.34 and a beta of 1.50.

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, Speedway 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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