Marathon Petroleum Corp (NYSE:MPC) Expected to Post Quarterly Sales of $27.27 Billion

Wall Street brokerages forecast that Marathon Petroleum Corp (NYSE:MPC) will post sales of $27.27 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Marathon Petroleum’s earnings. The highest sales estimate is $30.35 billion and the lowest is $21.48 billion. Marathon Petroleum posted sales of $32.54 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 16.2%. The firm is scheduled to announce its next earnings results before the market opens on Wednesday, January 29th.

According to Zacks, analysts expect that Marathon Petroleum will report full year sales of $119.92 billion for the current financial year, with estimates ranging from $112.84 billion to $123.85 billion. For the next fiscal year, analysts anticipate that the company will post sales of $137.65 billion, with estimates ranging from $120.00 billion to $151.07 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, October 31st. The oil and gas company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.30 by $0.33. Marathon Petroleum had a return on equity of 8.94% and a net margin of 2.50%. The company had revenue of $31.20 billion for the quarter, compared to the consensus estimate of $32.89 billion. During the same quarter in the prior year, the business earned $1.70 earnings per share. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis.

Several equities analysts have recently commented on MPC shares. Cfra downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Jefferies Financial Group started coverage on Marathon Petroleum in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $75.00 target price on the stock. Morgan Stanley upped their target price on Marathon Petroleum from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. ValuEngine raised Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Citigroup upped their target price on Marathon Petroleum from $60.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Marathon Petroleum currently has an average rating of “Buy” and an average price target of $73.83.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Marathon Petroleum by 2.3% in the second quarter. BlackRock Inc. now owns 56,398,616 shares of the oil and gas company’s stock valued at $3,151,555,000 after buying an additional 1,251,901 shares during the period. Boston Partners lifted its stake in Marathon Petroleum by 77.8% during the third quarter. Boston Partners now owns 12,807,028 shares of the oil and gas company’s stock worth $778,559,000 after purchasing an additional 5,604,647 shares during the last quarter. Steadfast Capital Management LP lifted its stake in Marathon Petroleum by 45.6% during the second quarter. Steadfast Capital Management LP now owns 7,369,706 shares of the oil and gas company’s stock worth $411,819,000 after purchasing an additional 2,307,655 shares during the last quarter. Invesco Ltd. lifted its stake in Marathon Petroleum by 52.4% during the second quarter. Invesco Ltd. now owns 6,712,810 shares of the oil and gas company’s stock worth $375,112,000 after purchasing an additional 2,308,553 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Marathon Petroleum by 8,399.2% during the third quarter. Millennium Management LLC now owns 4,380,729 shares of the oil and gas company’s stock worth $266,129,000 after purchasing an additional 4,329,186 shares during the last quarter. Institutional investors and hedge funds own 76.12% of the company’s stock.

Shares of Marathon Petroleum stock traded down $0.39 on Wednesday, hitting $58.61. The stock had a trading volume of 4,124,972 shares, compared to its average volume of 4,726,511. Marathon Petroleum has a twelve month low of $43.96 and a twelve month high of $69.65. The business’s 50 day moving average is $63.36 and its two-hundred day moving average is $55.99. The company has a quick ratio of 0.62, a current ratio of 1.25 and a debt-to-equity ratio of 0.71. The stock has a market cap of $37.08 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 1.31 and a beta of 1.67.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Tuesday, November 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 31.27%.

About Marathon Petroleum

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; Retail; 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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