Marathon Petroleum Co. (NYSE:MPC) Plans Quarterly Dividend of $0.91

Marathon Petroleum Co. (NYSE:MPC) announced a quarterly dividend on Wednesday, April 30th, RTT News reports. Shareholders of record on Wednesday, May 21st will be given a dividend of 0.91 per share by the oil and gas company on Tuesday, June 10th. This represents a $3.64 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Wednesday, May 21st.

Marathon Petroleum has raised its dividend by an average of 13.4% annually over the last three years and has raised its dividend every year for the last 3 years. Marathon Petroleum has a payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Marathon Petroleum to earn $11.56 per share next year, which means the company should continue to be able to cover its $3.64 annual dividend with an expected future payout ratio of 31.5%.

Marathon Petroleum Stock Performance

MPC opened at $164.07 on Monday. The company has a market capitalization of $50.40 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum has a 1-year low of $115.10 and a 1-year high of $183.31. The business has a 50 day moving average price of $139.76 and a two-hundred day moving average price of $145.57.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The firm had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.58 earnings per share. Research analysts predict that Marathon Petroleum will post 8.47 EPS for the current fiscal year.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Evan Bayh purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. The trade was a 1.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ricky D. Hessling purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the acquisition, the insider now directly owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This trade represents a 19.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

An institutional investor recently raised its position in Marathon Petroleum stock. Brighton Jones LLC lifted its stake in Marathon Petroleum Co. (NYSE:MPC) by 30.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,988 shares of the oil and gas company’s stock after buying an additional 1,178 shares during the period. Brighton Jones LLC’s holdings in Marathon Petroleum were worth $696,000 at the end of the most recent reporting period. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

MPC has been the topic of several research reports. TD Cowen upped their price target on Marathon Petroleum from $142.00 to $152.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Raymond James dropped their price target on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 9th. Scotiabank cut their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Barclays boosted their target price on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $175.29.

Marathon Petroleum Company Profile

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.