FY2022 Earnings Forecast for Marathon Petroleum Co. (NYSE:MPC) Issued By Jefferies Financial Group

Marathon Petroleum Co. (NYSE:MPCGet Rating) – Investment analysts at Jefferies Financial Group upped their FY2022 EPS estimates for Marathon Petroleum in a research report issued to clients and investors on Sunday, November 20th. Jefferies Financial Group analyst D. Ailani now forecasts that the oil and gas company will earn $24.32 per share for the year, up from their previous forecast of $23.48. Jefferies Financial Group currently has a “Hold” rating and a $119.00 price objective on the stock. The consensus estimate for Marathon Petroleum’s current full-year earnings is $25.58 per share.

MPC has been the subject of several other research reports. Cowen upped their price target on shares of Marathon Petroleum to $129.00 in a research report on Tuesday, September 20th. Barclays boosted their price objective on shares of Marathon Petroleum from $112.00 to $126.00 and gave the stock an “overweight” rating in a research note on Monday, October 10th. Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $116.00 to $131.00 in a research note on Thursday, November 3rd. Raymond James upped their target price on shares of Marathon Petroleum from $133.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 11th. Finally, StockNews.com initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $124.71.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $126.60 on Tuesday. The firm has a 50 day simple moving average of $108.80 and a 200-day simple moving average of $99.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.66 and a quick ratio of 1.19. The firm has a market cap of $59.33 billion, a PE ratio of 5.56, a P/E/G ratio of 0.20 and a beta of 1.61. Marathon Petroleum has a 1-year low of $59.55 and a 1-year high of $127.32.

Institutional Investors Weigh In On Marathon Petroleum

A number of hedge funds have recently added to or reduced their stakes in MPC. Renaissance Technologies LLC boosted its position in Marathon Petroleum by 50,346.4% in the second quarter. Renaissance Technologies LLC now owns 2,824,999 shares of the oil and gas company’s stock worth $232,243,000 after purchasing an additional 2,819,399 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Marathon Petroleum by 21.9% in the 1st quarter. Bank of New York Mellon Corp now owns 12,481,878 shares of the oil and gas company’s stock worth $1,067,202,000 after purchasing an additional 2,244,421 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Marathon Petroleum by 22,119.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,227,468 shares of the oil and gas company’s stock valued at $190,449,000 after acquiring an additional 2,217,443 shares during the period. Invesco Ltd. boosted its holdings in Marathon Petroleum by 39.0% during the 1st quarter. Invesco Ltd. now owns 6,695,296 shares of the oil and gas company’s stock valued at $572,449,000 after acquiring an additional 1,878,976 shares during the period. Finally, Pacer Advisors Inc. raised its position in Marathon Petroleum by 5,699.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,506,025 shares of the oil and gas company’s stock valued at $149,593,000 after purchasing an additional 1,480,055 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Shawn M. Lyon sold 12,053 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $121.65, for a total value of $1,466,247.45. Following the completion of the transaction, the senior vice president now directly owns 14,660 shares in the company, valued at approximately $1,783,389. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Shawn M. Lyon sold 12,053 shares of the stock in a transaction on Friday, November 18th. The stock was sold at an average price of $121.65, for a total value of $1,466,247.45. Following the sale, the senior vice president now owns 14,660 shares in the company, valued at approximately $1,783,389. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Hennigan sold 100,000 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $121.75, for a total value of $12,175,000.00. Following the transaction, the chief executive officer now owns 296,826 shares in the company, valued at approximately $36,138,565.50. The disclosure for this sale can be found here. In the last three months, insiders sold 254,120 shares of company stock valued at $29,475,080. 0.28% of the stock is currently owned by insiders.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Wednesday, November 16th will be issued a dividend of $0.75 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.58. This represents a $3.00 annualized dividend and a yield of 2.37%. The ex-dividend date is Tuesday, November 15th. Marathon Petroleum’s payout ratio is currently 13.18%.

Marathon Petroleum Company Profile

(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.

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

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