Jefferies Group LLC reiterated their buy rating on shares of Marathon Petroleum Corporation (NYSE:MPC) in a research note released on Wednesday, September 6th. Jefferies Group LLC currently has a $64.00 price objective on the oil and gas company’s stock, down from their previous price objective of $65.00. Jefferies Group also issued estimates for Marathon Petroleum Corporation’s Q3 2017 earnings at $1.27 EPS, Q4 2017 earnings at $0.40 EPS, FY2017 earnings at $2.74 EPS, Q1 2018 earnings at ($0.02) EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.08 EPS, FY2018 earnings at $0.72 EPS, FY2019 earnings at $0.34 EPS, FY2020 earnings at $0.30 EPS and FY2021 earnings at $0.36 EPS.
Other analysts have also issued reports about the stock. Cowen and Company increased their target price on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an outperform rating in a report on Thursday, July 27th. Scotiabank set a $55.00 price objective on shares of Marathon Petroleum Corporation and gave the stock a hold rating in a report on Tuesday, July 11th. BidaskClub upgraded shares of Marathon Petroleum Corporation from a hold rating to a buy rating in a report on Thursday, July 6th. Zacks Investment Research lowered shares of Marathon Petroleum Corporation from a hold rating to a sell rating in a report on Monday, July 17th. Finally, Piper Jaffray Companies reissued an overweight rating and set a $62.00 price target on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $59.67.
Marathon Petroleum Corporation (NYSE MPC) opened at 54.73 on Wednesday. The company has a market capitalization of $28.89 billion, a P/E ratio of 24.76 and a beta of 1.56. The company has a 50 day moving average price of $52.72 and a 200-day moving average price of $52.13. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81.
Marathon Petroleum Corporation (NYSE:MPC) last posted 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). The firm had revenue of $18.35 billion for the quarter, compared to analysts’ expectations of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 earnings per share. On average, equities analysts anticipate that Marathon Petroleum Corporation will post $2.95 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were issued a $0.40 dividend. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Monday, August 14th. Marathon Petroleum Corporation’s payout ratio is currently 90.91%.
In other news, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.05% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Blue Chip Partners Inc. bought a new stake in shares of Marathon Petroleum Corporation in the 2nd quarter worth about $100,000. Guardian Life Insurance Co. of America grew its holdings in Marathon Petroleum Corporation by 0.7% during the 1st 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 purchasing an additional 14 shares during the last quarter. FTB Advisors Inc. grew its holdings in Marathon Petroleum Corporation by 484.9% during the 1st quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock valued at $104,000 after purchasing an additional 1,697 shares during the last quarter. Lee Financial Co grew its holdings in Marathon Petroleum Corporation by 2.4% during the 2nd quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after purchasing an additional 48 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its holdings in Marathon Petroleum Corporation by 32.2% during the 1st quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after purchasing an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 78.25% of the company’s stock.
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.
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