Marathon Petroleum Co. (MPC) to Distribute Quarterly Dividend of $0.91 on December 10th

Marathon Petroleum Co. (NYSE:MPC) declared a quarterly dividend on Wednesday, October 30th, RTT News reports. Stockholders of record on Wednesday, November 20th will be paid a dividend of 0.91 per share by the oil and gas company on Tuesday, December 10th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.50%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83.

Marathon Petroleum has increased its dividend payment by an average of 9.9% per year over the last three years. Marathon Petroleum has a payout ratio of 33.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Marathon Petroleum to earn $10.57 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 31.2%.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $145.47 on Friday. Marathon Petroleum has a one year low of $140.98 and a one year high of $221.11. The stock has a market capitalization of $48.69 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 2.77 and a beta of 1.37. The company has a 50-day simple moving average of $163.21 and a 200-day simple moving average of $172.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same period last year, the company earned $5.32 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts predict that Marathon Petroleum will post 8.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wolfe Research started coverage on Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Citigroup decreased their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Finally, Mizuho lowered their target price on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average price target of $187.00.

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.