Marathon Petroleum Co. (NYSE:MPC) to Issue Quarterly Dividend of $0.83

Marathon Petroleum Co. (NYSE:MPC) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors 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 1.65%. The ex-dividend date is Wednesday, May 15th.

Marathon Petroleum has raised its dividend by an average of 9.9% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Marathon Petroleum has a dividend payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.2 %

Shares of MPC opened at $199.51 on Friday. The company has a market cap of $71.89 billion, a PE ratio of 8.48, a P/E/G ratio of 1.62 and a beta of 1.52. The business has a fifty day moving average of $191.83 and a 200 day moving average of $166.46. Marathon Petroleum has a 52-week low of $104.32 and a 52-week high of $221.11. 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 quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $1.77. The company had revenue of $36.26 billion during the quarter, compared to the consensus estimate of $34.90 billion. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. Marathon Petroleum’s revenue was down 8.9% on a year-over-year basis. During the same period last year, the company earned $6.65 earnings per share. On average, sell-side analysts expect that Marathon Petroleum will post 20.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MPC shares. The Goldman Sachs Group raised their price target on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. TD Cowen lifted their target price on Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Wells Fargo & Company lifted their target price on Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Bank of America lifted their target price on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. lifted their target price on Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.77.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of Marathon Petroleum stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the transaction, the director now owns 23,446 shares in the company, valued at $3,994,026.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

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.