Marathon Petroleum Co. (MPC) To Go Ex-Dividend on May 15th

Marathon Petroleum Co. (NYSE:MPC) announced 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 1.65%. The ex-dividend date of this dividend is Wednesday, May 15th.

Marathon Petroleum has raised its dividend payment by an average of 9.9% per year over the last three years and has increased its dividend every year for the last 2 years. Marathon Petroleum has a payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Marathon Petroleum to earn $17.07 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 19.3%.

Marathon Petroleum Trading Up 0.2 %

MPC opened at $199.51 on Friday. The stock has a market cap of $71.89 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.52. Marathon Petroleum has a twelve month low of $104.32 and a twelve month high of $221.11. The company has a fifty day moving average of $191.83 and a 200-day moving average of $166.46. The company has a quick ratio of 1.13, a current ratio of 1.59 and a debt-to-equity ratio of 0.83.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $1.77. The business had revenue of $36.26 billion for the quarter, compared to analyst estimates of $34.90 billion. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. Marathon Petroleum’s revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $6.65 earnings per share. On average, sell-side analysts predict that Marathon Petroleum will post 20.49 EPS for the current year.

Insider Buying and Selling

In related news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the sale, the director now owns 23,446 shares in the company, valued at $3,994,026.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MPC has been the topic of several research analyst reports. Mizuho increased their target price on shares of Marathon Petroleum from $201.00 to $202.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Raymond James raised their price objective on shares of Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 31st. StockNews.com raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. TD Cowen raised their price objective on shares of Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, The Goldman Sachs Group raised their price objective on shares of Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.77.

Marathon Petroleum Company Profile

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.