Marathon Petroleum Corporation (MPC) Expected to Post Q3 2017 Earnings of $1.15 Per Share
Marathon Petroleum Corporation (NYSE:MPC) – Analysts at Jefferies Group raised their Q3 2017 earnings per share (EPS) estimates for shares of Marathon Petroleum Corporation in a research report issued on Monday. Jefferies Group analyst C. Goldman now forecasts that the oil and gas company will earn $1.15 per share for the quarter, up from their prior estimate of $0.63. Jefferies Group has a “Buy” rating and a $65.00 price objective on the stock. Jefferies Group also issued estimates for Marathon Petroleum Corporation’s Q4 2017 earnings at $0.41 EPS, FY2017 earnings at $2.62 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.34 EPS, Q4 2018 earnings at $0.12 EPS, FY2019 earnings at $0.55 EPS, FY2020 earnings at $0.54 EPS and FY2021 earnings at $0.62 EPS.
Several other analysts have also commented on MPC. Zacks Investment Research lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Scotiabank set a $55.00 target price on Marathon Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada restated a “buy” rating and issued a $69.00 target price on shares of Marathon Petroleum Corporation in a research report on Thursday, June 1st. Credit Suisse Group reiterated a “buy” rating and issued a $64.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $62.00 price objective on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $59.30.
COPYRIGHT VIOLATION NOTICE: This story was first published by Watch List News and is owned by of Watch List News. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.watchlistnews.com/marathon-petroleum-corporation-mpc-expected-to-post-q3-2017-earnings-of-1-15-per-share/1531190.html.
Marathon Petroleum Corporation (MPC) opened at 51.43 on Wednesday. The company’s 50-day moving average is $53.66 and its 200 day moving average is $51.79. Marathon Petroleum Corporation has a 52-week low of $39.29 and a 52-week high of $56.81. The company has a market cap of $26.04 billion, a price-to-earnings ratio of 30.67 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last released its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The firm had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. During the same period in the prior year, the firm earned $1.07 EPS. The firm’s revenue was up 9.3% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 3.11%. Marathon Petroleum Corporation’s payout ratio is presently 90.91%.
In related news, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.05% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the company. Blue Chip Partners Inc. purchased a new stake in Marathon Petroleum Corporation during the second quarter worth approximately $100,000. Guardian Life Insurance Co. of America raised its position in shares of Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 14 shares in the last quarter. FTB Advisors Inc. raised its position in shares of Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,697 shares in the last quarter. Lee Financial Co raised its position in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 48 shares in the last quarter. Finally, Jacobi Capital Management LLC raised its position in shares of Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 570 shares in the last quarter. 78.84% of the stock is currently owned by hedge funds and other institutional investors.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
Receive News & Ratings for Marathon Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.