Marathon Petroleum Co. (NYSE:MPC) Declares $0.83 Quarterly Dividend

Marathon Petroleum Co. (NYSE:MPC) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Thursday, May 16th will be paid a dividend of 0.825 per share by the oil and gas company on Monday, June 10th. This represents a $3.30 dividend on an annualized basis and a yield of 1.66%.

Marathon Petroleum has raised its dividend payment by an average of 9.9% per year over the last three years and has raised its dividend every year for the last 2 years. Marathon Petroleum has a dividend payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 0.3 %

Shares of MPC stock opened at $199.12 on Thursday. The company has a market cap of $71.75 billion, a P/E ratio of 8.46, a PEG ratio of 1.62 and a beta of 1.52. The stock has a 50 day simple moving average of $191.26 and a two-hundred day simple moving average of $166.23. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 1.59. Marathon Petroleum has a fifty-two week low of $104.32 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPC) 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. The company had revenue of $36.26 billion for the quarter, compared to analysts’ expectations of $34.90 billion. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. Marathon Petroleum’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.65 earnings per share. Research analysts forecast that Marathon Petroleum will post 20.49 earnings per share for the current year.

Insider Activity at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the sale, the director now directly owns 23,446 shares in the company, valued at approximately $3,994,026.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on MPC. JPMorgan Chase & Co. boosted their price objective on Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Raymond James boosted their price objective on Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 31st. TD Cowen boosted their price objective on Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Citigroup began coverage on Marathon Petroleum in a research report on Wednesday, January 24th. They issued a “neutral” rating on the stock. Finally, Bank of America boosted their price objective on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has 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 $193.77.

About Marathon Petroleum

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.