Marathon Petroleum (NYSE:MPC) Announces Earnings Results, Beats Estimates By $0.71 EPS

Marathon Petroleum (NYSE:MPC - Get Free Report) posted its quarterly earnings results on Tuesday. The oil and gas company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.71, Zacks reports. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company had revenue of $33.47 billion for the quarter, compared to analysts' expectations of $31.94 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. Marathon Petroleum's revenue was down 9.1% on a year-over-year basis.

Marathon Petroleum Price Performance

MPC stock traded down $1.80 during mid-day trading on Friday, hitting $150.13. 2,377,513 shares of the stock were exchanged, compared to its average volume of 2,905,581. The stock has a market capitalization of $48.25 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 2.77 and a beta of 1.41. The business has a fifty day moving average price of $146.03 and a 200 day moving average price of $157.74. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum has a 12 month low of $130.54 and a 12 month high of $221.11.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum's dividend payout ratio (DPR) is 28.84%.

Wall Street Analyst Weigh In

Several analysts have issued reports on MPC shares. TD Cowen restated a "buy" rating and issued a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Tudor Pickering upgraded Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Barclays cut their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Bank of America began coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They issued a "neutral" rating and a $174.00 price target on the stock. Finally, Raymond James lifted their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a "strong-buy" rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $181.27.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now directly owns 6,090 shares of the company's stock, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.21% of the company's stock.

Marathon Petroleum announced that its board has authorized a share buyback plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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.