Marathon Petroleum Corporation (NYSE:MPC) Announces Quarterly Dividend of $0.91

Key Points

• Marathon Petroleum Corporation has declared a quarterly dividend of $0.91 per share, representing an annualized dividend of $3.64 with a yield of 2.13%.
• Shares of Marathon Petroleum traded down 2.6%, hitting $170.89, with a market cap of $52.50 billion and a P/E ratio of 24.04.
• Several brokerages have raised their target prices for Marathon Petroleum, with Raymond James increasing its target to $200.00 and Citigroup adjusting it to $182.00, reflecting positive sentiment from analysts.

Marathon Petroleum Corporation (NYSE:MPC - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Wednesday, August 20th will be given a dividend of 0.91 per share by the oil and gas company on Wednesday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, August 20th.

Marathon Petroleum has a payout ratio of 31.2% meaning its dividend is sufficiently covered by earnings. Research 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 Down 2.5%

Shares of NYSE MPC traded down $4.29 during midday trading on Friday, reaching $165.90. 449,010 shares of the company's stock traded hands, compared to its average volume of 2,698,045. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The stock's 50 day simple moving average is $168.69 and its 200-day simple moving average is $153.16. Marathon Petroleum has a one year low of $115.10 and a one year high of $183.10. The company has a market cap of $50.97 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 2.92 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. During the same period last year, the firm earned $2.58 earnings per share. The company's quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts predict that Marathon Petroleum will post 8.47 EPS for the current fiscal year.

About Marathon Petroleum

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.