Marathon Petroleum (MPC) Expected to Announce Earnings on Tuesday

Marathon Petroleum (NYSE:MPC) is anticipated to post its quarterly earnings results before the market opens on Tuesday, February 4th. Analysts expect Marathon Petroleum to post earnings of ($0.01) per share and revenue of $32,195,112.65 billion for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. During the same period in the previous year, the business posted $8.14 earnings per share. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, analysts expect Marathon Petroleum to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $152.69 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average is $147.18 and its 200-day moving average is $158.52. Marathon Petroleum has a 1 year low of $130.54 and a 1 year high of $221.11. The firm has a market capitalization of $49.07 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 2.88 and a beta of 1.42.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is 28.84%.

Marathon Petroleum declared that its board has initiated a share repurchase plan on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now directly owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MPC shares. Mizuho lowered their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Citigroup lowered their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Bank of America began coverage on Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. Barclays dropped their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.20.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.