Brokerages predict that Marathon Petroleum Corp (NYSE:MPC) will report sales of $29.28 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Marathon Petroleum’s earnings, with the lowest sales estimate coming in at $28.56 billion and the highest estimate coming in at $30.00 billion. Marathon Petroleum reported sales of $18.98 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 54.3%. The business is scheduled to issue its next earnings report before the market opens on Wednesday, May 8th.
According to Zacks, analysts expect that Marathon Petroleum will report full year sales of $114.81 billion for the current fiscal year, with estimates ranging from $87.01 billion to $137.43 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $134.35 billion, with estimates ranging from $99.45 billion to $183.58 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Marathon Petroleum.
Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, February 7th. The oil and gas company reported $2.41 EPS for the quarter, topping the consensus estimate of $1.98 by $0.43. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates 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 was up 53.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS.
MPC has been the topic of several recent research reports. Standpoint Research initiated coverage on Marathon Petroleum in a report on Wednesday, December 26th. They issued an “accumulate” rating on the stock. Citigroup cut their price target on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, March 4th. ValuEngine raised Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Macquarie initiated coverage on Marathon Petroleum in a report on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 price target on the stock. Finally, Piper Jaffray Companies reissued an “overweight” rating on shares of Marathon Petroleum in a report on Thursday, January 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $92.24.
In other Marathon Petroleum news, CEO Gary R. Heminger sold 187,142 shares of Marathon Petroleum 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 sale, the chief executive officer now owns 434,166 shares of the company’s stock, valued at approximately $28,220,790. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.06% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Reliance Trust Co. of Delaware raised its stake in Marathon Petroleum by 2.4% during the 4th quarter. Reliance Trust Co. of Delaware now owns 6,595 shares of the oil and gas company’s stock valued at $389,000 after acquiring an additional 157 shares in the last quarter. Alpha Cubed Investments LLC raised its stake in shares of Marathon Petroleum by 1.7% in the 4th quarter. Alpha Cubed Investments LLC now owns 9,810 shares of the oil and gas company’s stock worth $579,000 after buying an additional 162 shares in the last quarter. FTB Advisors Inc. raised its stake in shares of Marathon Petroleum by 5.5% in the 4th quarter. FTB Advisors Inc. now owns 3,174 shares of the oil and gas company’s stock worth $187,000 after buying an additional 165 shares in the last quarter. Accurate Investment Solutions Inc. raised its stake in shares of Marathon Petroleum by 4.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 4,370 shares of the oil and gas company’s stock worth $262,000 after buying an additional 173 shares in the last quarter. Finally, Stillwater Investment Management LLC raised its stake in shares of Marathon Petroleum by 0.5% in the 4th quarter. Stillwater Investment Management LLC now owns 33,501 shares of the oil and gas company’s stock worth $1,977,000 after buying an additional 180 shares in the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE MPC traded down $0.49 during mid-day trading on Thursday, hitting $63.11. The company had a trading volume of 5,200,433 shares, compared to its average volume of 6,337,190. The company has a market cap of $42.84 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 1.29 and a beta of 1.37. Marathon Petroleum has a 12 month low of $54.29 and a 12 month high of $88.45. The company has a current ratio of 1.36, a quick ratio of 0.62 and a debt-to-equity ratio of 0.61.
Marathon Petroleum Company Profile
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, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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