Zacks: Brokerages Expect Marathon Petroleum Co. (NYSE:MPC) Will Announce Earnings of -$0.72 Per Share

Equities analysts expect Marathon Petroleum Co. (NYSE:MPC) to post earnings per share (EPS) of ($0.72) for the current quarter, Zacks reports. Two analysts have made estimates for Marathon Petroleum’s earnings. The lowest EPS estimate is ($0.85) and the highest is ($0.60). Marathon Petroleum posted earnings per share of ($0.16) in the same quarter last year, which would indicate a negative year over year growth rate of 350%. The firm is scheduled to announce its next earnings report before the market opens on Tuesday, May 4th.

On average, analysts expect that Marathon Petroleum will report full-year earnings of $0.64 per share for the current year, with EPS estimates ranging from ($1.48) to $4.23. For the next fiscal year, analysts forecast that the company will report earnings of $3.08 per share, with EPS estimates ranging from $1.44 to $6.61. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 4th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.52. The business had revenue of $22.88 billion for the quarter, compared to the consensus estimate of $19.80 billion. Marathon Petroleum had a negative return on equity of 1.81% and a negative net margin of 11.11%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.16) earnings per share.

A number of research analysts have recently commented on MPC shares. Tudor Pickering raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Thursday, January 21st. Raymond James upgraded shares of Marathon Petroleum from a “market perform” rating to a “strong-buy” rating and set a $69.00 target price on the stock in a research report on Thursday, April 22nd. JPMorgan Chase & Co. raised shares of Marathon Petroleum from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a research note on Monday, March 1st. Piper Sandler increased their price target on Marathon Petroleum from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, April 1st. Finally, TheStreet upgraded Marathon Petroleum from a “d+” rating to a “c-” rating in a research report on Monday, March 8th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $51.50.

NYSE:MPC traded up $0.14 during trading hours on Tuesday, hitting $57.30. The company’s stock had a trading volume of 7,081,971 shares, compared to its average volume of 6,005,226. Marathon Petroleum has a twelve month low of $26.56 and a twelve month high of $59.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.32. The stock has a fifty day simple moving average of $54.16 and a 200-day simple moving average of $45.73. The company has a market capitalization of $37.32 billion, a P/E ratio of -3.78 and a beta of 2.24.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Wednesday, May 19th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Tuesday, May 18th. Marathon Petroleum’s payout ratio is 46.96%.

Institutional investors have recently made changes to their positions in the business. Marino Stram & Associates LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $319,000. GWM Advisors LLC grew its holdings in shares of Marathon Petroleum by 7.2% during the first quarter. GWM Advisors LLC now owns 36,075 shares of the oil and gas company’s stock valued at $1,930,000 after buying an additional 2,438 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Marathon Petroleum by 14.7% during the first quarter. Parallel Advisors LLC now owns 6,610 shares of the oil and gas company’s stock valued at $354,000 after buying an additional 849 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Marathon Petroleum by 0.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 4,194,055 shares of the oil and gas company’s stock valued at $173,466,000 after buying an additional 27,516 shares during the last quarter. Finally, Tompkins Financial Corp grew its holdings in shares of Marathon Petroleum by 36,552.9% during the fourth quarter. Tompkins Financial Corp now owns 18,693 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 18,642 shares during the last quarter. 73.69% of the stock is owned by hedge funds and other institutional investors.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Itoperates through the following segments: Refining and Marketing; Retail; and Midstream. The Refining and 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.

Further Reading: What is cost of equity?

Get a free copy of the Zacks research report on Marathon Petroleum (MPC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Marathon Petroleum (NYSE:MPC)

Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.