Marathon Petroleum Co. Forecasted to Post Q1 2023 Earnings of $2.46 Per Share (NYSE:MPC)

Marathon Petroleum Co. (NYSE:MPCGet Rating) – Zacks Research boosted their Q1 2023 earnings per share estimates for Marathon Petroleum in a report issued on Tuesday, November 15th. Zacks Research analyst N. Choudhury now expects that the oil and gas company will post earnings of $2.46 per share for the quarter, up from their prior forecast of $2.28. The consensus estimate for Marathon Petroleum’s current full-year earnings is $25.27 per share. Zacks Research also issued estimates for Marathon Petroleum’s Q3 2023 earnings at $2.99 EPS and FY2023 earnings at $12.00 EPS.

MPC has been the topic of a number of other reports. Royal Bank of Canada boosted their price target on Marathon Petroleum from $126.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, November 2nd. StockNews.com started coverage on Marathon Petroleum in a report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Jefferies Financial Group started coverage on Marathon Petroleum in a report on Wednesday, October 19th. They set a “hold” rating and a $119.00 target price on the stock. Piper Sandler upped their target price on Marathon Petroleum from $111.00 to $153.00 and gave the stock a “neutral” rating in a report on Wednesday, November 9th. Finally, Barclays upped their target price on Marathon Petroleum from $112.00 to $126.00 and gave the stock an “overweight” rating in a report on Monday, October 10th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $124.71.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $121.18 on Friday. The firm has a market cap of $56.79 billion, a price-to-earnings ratio of 5.32, a price-to-earnings-growth ratio of 0.20 and a beta of 1.61. The stock’s 50-day moving average is $107.82 and its 200-day moving average is $99.16. Marathon Petroleum has a one year low of $59.55 and a one year high of $123.12. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.66 and a quick ratio of 1.19.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Wednesday, November 16th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $3.00 dividend on an annualized basis and a yield of 2.48%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.58. Marathon Petroleum’s dividend payout ratio is currently 13.18%.

Insider Buying and Selling

In related news, VP Carl Kristopher Hagedorn sold 14,353 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the sale, the vice president now owns 7,873 shares of the company’s stock, valued at $829,892.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Marathon Petroleum news, CEO Michael J. Hennigan sold 80,149 shares of the company’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $118.73, for a total transaction of $9,516,090.77. Following the completion of the sale, the chief executive officer now directly owns 248,596 shares in the company, valued at $29,515,803.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Carl Kristopher Hagedorn sold 14,353 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total value of $1,512,949.73. Following the sale, the vice president now owns 7,873 shares of the company’s stock, valued at $829,892.93. The disclosure for this sale can be found here. Insiders have sold 242,067 shares of company stock valued at $28,008,832 over the last 90 days. 0.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MPC. Credit Agricole S A bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at $25,000. Herold Advisors Inc. bought a new position in shares of Marathon Petroleum in the 1st quarter valued at $26,000. Moisand Fitzgerald Tamayo LLC acquired a new stake in Marathon Petroleum in the second quarter valued at $29,000. Ten Capital Wealth Advisors LLC acquired a new stake in Marathon Petroleum in the third quarter valued at $29,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Marathon Petroleum in the first quarter valued at $30,000. 78.69% of the stock is currently owned by institutional investors.

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. It operates in two segments, Refining & Marketing, and Midstream. 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.

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Earnings History and Estimates for Marathon Petroleum (NYSE:MPC)

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