Marathon Petroleum (NYSE:MPC) Issues Quarterly Earnings Results

Marathon Petroleum (NYSE:MPC) announced its quarterly earnings data on Tuesday. The oil and gas company reported $4.07 EPS for the quarter, beating the consensus estimate of $3.73 by $0.34, FiscalAI reports. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $176.75 on Tuesday. The company has a market capitalization of $53.13 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. Marathon Petroleum has a one year low of $115.10 and a one year high of $202.29. The company’s 50-day moving average is $177.35 and its 200 day moving average is $180.61.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 18th. Marathon Petroleum’s payout ratio is currently 42.64%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MPC. TD Cowen lowered their price objective on Marathon Petroleum from $195.00 to $183.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Mizuho increased their target price on shares of Marathon Petroleum from $198.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Raymond James Financial boosted their price target on Marathon Petroleum from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, BMO Capital Markets cut their price objective on Marathon Petroleum from $208.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Ten analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $197.19.

Hedge Funds Weigh In On Marathon Petroleum

A number of hedge funds have recently added to or reduced their stakes in the company. WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth $33,000. Ossiam purchased a new stake in shares of Marathon Petroleum during the third quarter valued at $68,000. McIlrath & Eck LLC increased its holdings in Marathon Petroleum by 15.8% in the 2nd quarter. McIlrath & Eck LLC now owns 792 shares of the oil and gas company’s stock worth $132,000 after buying an additional 108 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Marathon Petroleum in the 2nd quarter worth about $151,000. Finally, Lazard Asset Management LLC lifted its stake in Marathon Petroleum by 7.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,037 shares of the oil and gas company’s stock valued at $172,000 after acquiring an additional 69 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.