Marathon Petroleum Corporation (NYSE:MPC) to Issue $1.00 Quarterly Dividend

Key Points

• $1.00 quarterly dividend announced, payable June 10 to shareholders of record on May 20, representing a $4.00 annualized dividend and a yield of about 1.7% (ex-dividend date May 20).
• Dividend appears well covered with a current payout ratio of 34.2% and analysts' forecast of $23.31 EPS next year implying an expected future payout ratio of about 17.2%; Marathon has modestly increased its dividend each year over the past three years.
• Recent quarter showed an EPS beat of $4.07 versus $3.73 expected and revenue of $32.57 billion, while the stock trades at a market cap of $71.05 billion and a P/E of 18.08 (52-week range $136.80–$255.77).

Marathon Petroleum Corporation (NYSE:MPC - Get Free Report) announced a quarterly dividend on Wednesday, April 29th. Investors of record on Wednesday, May 20th will be given a dividend of 1.00 per share by the oil and gas company on Wednesday, June 10th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, May 20th.

Marathon Petroleum has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 3 years. Marathon Petroleum has a dividend payout ratio of 34.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Marathon Petroleum to earn $23.31 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 17.2%.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $241.25 on Thursday. The stock has a market cap of $71.05 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 0.34 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.27. The business has a 50-day simple moving average of $224.95 and a 200 day simple moving average of $199.02. Marathon Petroleum has a 52 week low of $136.80 and a 52 week high of $255.77.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The firm had revenue of $32.57 billion for the quarter, compared to analysts' expectations of $30.89 billion. During the same quarter last year, the firm posted $0.77 EPS. The company's revenue was down .1% compared to the same quarter last year. On average, research analysts forecast that Marathon Petroleum will post 25.79 earnings per share for the current fiscal year.

Marathon Petroleum Company Profile

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.

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