Marathon Petroleum Corporation (MPC) to Issue Quarterly Dividend of $1.00 on March 10th

Marathon Petroleum Corporation (NYSE:MPC) declared a quarterly dividend on Friday, January 30th. Stockholders of record on Wednesday, February 18th will be given a dividend of 1.00 per share by the oil and gas company on Tuesday, March 10th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, February 18th.

Marathon Petroleum has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 3 years. Marathon Petroleum has a payout ratio of 34.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Marathon Petroleum to earn $11.56 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 34.6%.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $203.33 on Monday. The business has a 50 day moving average of $178.84 and a 200 day moving average of $182.26. Marathon Petroleum has a 52 week low of $115.10 and a 52 week high of $210.32. The company has a market cap of $61.12 billion, a PE ratio of 15.23, a P/E/G ratio of 1.32 and a beta of 0.74. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The business had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $30.89 billion. During the same period in the previous year, the firm earned $0.77 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research analyst reports. Mizuho raised their price objective on shares of Marathon Petroleum from $198.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Piper Sandler lowered their target price on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Raymond James Financial upped their price target on Marathon Petroleum from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Citigroup increased their price objective on Marathon Petroleum from $182.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Barclays dropped their target price on shares of Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $202.19.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.