Zacks: Brokerages Expect Marathon Petroleum Corp (MPC) to Announce $0.02 Earnings Per Share

Brokerages forecast that Marathon Petroleum Corp (NYSE:MPC) will post $0.02 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Marathon Petroleum’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at ($0.10). Marathon Petroleum reported earnings of $0.08 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 75%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, May 8th.

On average, analysts expect that Marathon Petroleum will report full year earnings of $5.40 per share for the current fiscal year, with EPS estimates ranging from $4.04 to $6.59. For the next year, analysts anticipate that the firm will post earnings of $9.07 per share, with EPS estimates ranging from $7.65 to $10.51. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.43. The business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $34.16 billion. Marathon Petroleum had a return on equity of 14.14% and a net margin of 2.86%. The business’s revenue for the quarter was up 53.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS.

Several analysts have issued reports on MPC shares. Raymond James dropped their target price on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 10th. Macquarie started coverage on Marathon Petroleum in a report on Tuesday, February 5th. They set an “outperform” rating and a $67.18 price objective for the company. Piper Jaffray Companies reiterated an “overweight” rating on shares of Marathon Petroleum in a report on Thursday, January 10th. ValuEngine upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Citigroup decreased their price objective on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating for the company in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $91.24.

NYSE MPC traded down $1.56 during midday trading on Wednesday, hitting $59.50. 5,972,951 shares of the company traded hands, compared to its average volume of 6,417,854. The company has a current ratio of 1.36, a quick ratio of 0.62 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $40.50 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 1.32 and a beta of 1.37. Marathon Petroleum has a 52 week low of $54.29 and a 52 week high of $88.45.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.56%. Marathon Petroleum’s dividend payout ratio is presently 31.27%.

In other news, CEO Gary R. Heminger sold 187,142 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total transaction of $12,164,230.00. Following the completion of the sale, the chief executive officer now owns 434,166 shares in the company, valued at approximately $28,220,790. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.06% of the company’s stock.

A number of hedge funds have recently modified their holdings of MPC. Hanson McClain Inc. acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at about $25,000. Certified Advisory Corp boosted its holdings in shares of Marathon Petroleum by 71.2% in the 4th quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 198 shares during the period. Kistler Tiffany Companies LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at about $30,000. SeaBridge Investment Advisors LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at about $30,000. Finally, Berman Capital Advisors LLC acquired a new position in Marathon Petroleum during the 4th quarter valued at about $30,000. Institutional investors own 79.25% of the company’s stock.

About Marathon Petroleum

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, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.

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