Marathon Petroleum Co. (NYSE:MPC - Get Free Report) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Stockholders of record on Thursday, May 16th will be given a dividend of 0.825 per share by the oil and gas company on Monday, June 10th. This represents a $3.30 annualized dividend and a dividend yield of 1.66%.
Marathon Petroleum has raised its dividend payment by an average of 9.9% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Marathon Petroleum has a dividend payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Marathon Petroleum to earn $16.52 per share next year, which means the company should continue to be able to cover its $3.30 annual dividend with an expected future payout ratio of 20.0%.
Marathon Petroleum Stock Down 0.3 %
Shares of MPC traded down $0.53 during trading hours on Wednesday, hitting $199.12. The company had a trading volume of 1,472,880 shares, compared to its average volume of 2,785,725. The company has a market capitalization of $71.75 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 1.70 and a beta of 1.52. The company has a current ratio of 1.59, a quick ratio of 1.13 and a debt-to-equity ratio of 0.83. Marathon Petroleum has a one year low of $104.32 and a one year high of $221.11. The company's fifty day moving average price is $190.68 and its two-hundred day moving average price is $165.99.
Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $1.77. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. The company had revenue of $36.26 billion for the quarter, compared to analyst estimates of $34.90 billion. During the same period in the prior year, the company posted $6.65 EPS. The firm's quarterly revenue was down 8.9% compared to the same quarter last year. As a group, equities analysts forecast that Marathon Petroleum will post 19.42 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on MPC shares. JPMorgan Chase & Co. upped their target price on Marathon Petroleum from $172.00 to $186.00 and gave the company a "neutral" rating in a research report on Monday, April 1st. Mizuho upped their target price on Marathon Petroleum from $201.00 to $202.00 and gave the company a "neutral" rating in a research report on Friday, April 12th. Piper Sandler upped their target price on Marathon Petroleum from $159.00 to $204.00 and gave the company a "neutral" rating in a research report on Friday, April 5th. Wells Fargo & Company boosted their price target on Marathon Petroleum from $214.00 to $227.00 and gave the company an "overweight" rating in a research note on Thursday, April 4th. Finally, Scotiabank boosted their price target on Marathon Petroleum from $175.00 to $207.00 and gave the company a "sector outperform" rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and an average price target of $193.77.
Read Our Latest Stock Analysis on MPC
Insider Transactions at Marathon Petroleum
In other news, Director Kim K.W. Rucker sold 1,000 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the sale, the director now owns 23,446 shares in the company, valued at $3,994,026.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% of the company's stock.
About Marathon Petroleum
(
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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.
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