Jefferies Financial Group Brokers Increase Earnings Estimates for Marathon Petroleum Co. (NYSE:MPC)

Marathon Petroleum Co. (NYSE:MPCGet Rating) – Research analysts at Jefferies Financial Group increased their FY2022 earnings per share (EPS) estimates for shares of Marathon Petroleum in a research note issued to investors on Tuesday, January 17th. Jefferies Financial Group analyst D. Ailani now expects that the oil and gas company will post earnings per share of $24.78 for the year, up from their prior forecast of $24.32. Jefferies Financial Group has a “Hold” rating and a $119.00 price target on the stock. The consensus estimate for Marathon Petroleum’s current full-year earnings is $25.26 per share. Jefferies Financial Group also issued estimates for Marathon Petroleum’s FY2023 earnings at $14.29 EPS.

Other equities research analysts have also recently issued reports about the company. Mizuho reissued a “neutral” rating and issued a $133.00 target price (up from $125.00) on shares of Marathon Petroleum in a research note on Tuesday, January 10th. Barclays lifted their target price on Marathon Petroleum from $126.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, January 9th. Royal Bank of Canada lifted their price objective on Marathon Petroleum from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd. Raymond James lifted their price objective on Marathon Petroleum from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 13th. Finally, Piper Sandler decreased their price objective on Marathon Petroleum from $153.00 to $143.00 and set a “neutral” rating for the company in a research note on Monday, December 19th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.00.

Marathon Petroleum Stock Up 1.6 %

NYSE MPC opened at $123.23 on Thursday. The stock has a fifty day moving average of $116.97 and a 200-day moving average of $105.30. The stock has a market capitalization of $57.75 billion, a P/E ratio of 5.41, a price-to-earnings-growth ratio of 0.27 and a beta of 1.59. Marathon Petroleum has a 52 week low of $67.49 and a 52 week high of $127.62. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.19 and a current ratio of 1.66.

Marathon Petroleum (NYSE:MPCGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The oil and gas company reported $7.81 earnings per share for the quarter, beating analysts’ consensus estimates of $6.80 by $1.01. The firm had revenue of $47.24 billion during the quarter, compared to analysts’ expectations of $35.67 billion. Marathon Petroleum had a return on equity of 34.82% and a net margin of 6.82%.

Institutional Trading of Marathon Petroleum

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Marathon Petroleum by 3.1% in the third quarter. Dimensional Fund Advisors LP now owns 5,470,772 shares of the oil and gas company’s stock valued at $543,405,000 after acquiring an additional 163,151 shares during the last quarter. Royal Bank of Canada increased its position in Marathon Petroleum by 1.1% during the third quarter. Royal Bank of Canada now owns 3,934,897 shares of the oil and gas company’s stock worth $390,854,000 after buying an additional 42,273 shares during the last quarter. Legal & General Group Plc increased its position in Marathon Petroleum by 2.6% during the second quarter. Legal & General Group Plc now owns 3,844,618 shares of the oil and gas company’s stock worth $316,065,000 after buying an additional 98,903 shares during the last quarter. FMR LLC increased its position in Marathon Petroleum by 11.1% during the second quarter. FMR LLC now owns 3,355,493 shares of the oil and gas company’s stock worth $275,856,000 after buying an additional 335,015 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Marathon Petroleum by 59.7% during the second quarter. Goldman Sachs Group Inc. now owns 2,975,199 shares of the oil and gas company’s stock worth $244,591,000 after buying an additional 1,112,575 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In other news, CEO Michael J. Hennigan sold 80,149 shares of the business’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $118.73, for a total value of $9,516,090.77. Following the sale, the chief executive officer now directly owns 248,596 shares in the company, valued at $29,515,803.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Timothy J. Aydt sold 7,477 shares of Marathon Petroleum stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $126.54, for a total value of $946,139.58. Following the sale, the vice president now owns 16,762 shares of the company’s stock, valued at $2,121,063.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Hennigan sold 80,149 shares of Marathon Petroleum stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $118.73, for a total value 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 approximately $29,515,803.08. The disclosure for this sale can be found here. Insiders have sold a total of 212,070 shares of company stock worth $25,617,038 over the last three months. Corporate insiders own 0.28% of the company’s stock.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Wednesday, November 16th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.43%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.58. The ex-dividend date was Tuesday, November 15th. Marathon Petroleum’s payout ratio is 13.18%.

About Marathon Petroleum

(Get Rating)

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.

Further Reading

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

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