Marathon Petroleum (NYSE:MPC) Announces Quarterly Earnings Results

Marathon Petroleum (NYSE:MPC - Get Free Report) released its quarterly earnings data on Tuesday. The oil and gas company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16, Zacks reports. The company had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. Marathon Petroleum's revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $2.58 earnings per share.

Marathon Petroleum Trading Up 0.6 %

Shares of NYSE:MPC traded up $0.93 during midday trading on Friday, hitting $150.90. 1,567,499 shares of the stock traded hands, compared to its average volume of 2,715,780. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The business's 50 day moving average is $137.10 and its two-hundred day moving average is $145.10. The stock has a market capitalization of $46.36 billion, a PE ratio of 15.20, a P/E/G ratio of 3.11 and a beta of 0.87. Marathon Petroleum has a one year low of $115.10 and a one year high of $183.31.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Wednesday, May 21st. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MPC shares. Wells Fargo & Company lowered their price objective on Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Barclays cut their price objective on Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Scotiabank lowered their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley lowered their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Marathon Petroleum has a consensus rating of "Moderate Buy" and a consensus price target of $172.93.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling bought 2,000 shares of Marathon Petroleum stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the acquisition, the insider now owns 12,162 shares of the company's stock, valued at approximately $1,638,464.64. The trade was a 19.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Evan Bayh bought 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $133.70 per share, with a total value of $133,700.00. Following the purchase, the director now owns 69,305 shares in the company, valued at $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marathon Petroleum

An institutional investor recently raised its position in Marathon Petroleum stock. Brighton Jones LLC boosted its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 30.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,988 shares of the oil and gas company's stock after purchasing an additional 1,178 shares during the quarter. Brighton Jones LLC's holdings in Marathon Petroleum were worth $696,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

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.