Marathon Petroleum Corporation (NYSE:MPC) issued its quarterly earnings data on Thursday. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.29, Bloomberg Earnings reports. The company had revenue of $19.36 billion for the quarter, compared to analyst estimates of $19.38 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. Marathon Petroleum Corporation’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company posted $0.58 earnings per share.
Marathon Petroleum Corporation (NYSE:MPC) traded up 1.10% during midday trading on Thursday, hitting $57.06. 2,718,337 shares of the stock traded hands. The stock has a market cap of $28.89 billion, a price-to-earnings ratio of 34.03 and a beta of 1.56. Marathon Petroleum Corporation has a one year low of $40.01 and a one year high of $57.92. The company has a 50-day moving average price of $55.25 and a 200 day moving average price of $53.23.
Several equities analysts recently issued reports on the stock. Citigroup Inc lifted their price objective on shares of Marathon Petroleum Corporation from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Zacks Investment Research raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Monday, October 16th. Edward Jones raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Barclays PLC reissued an “overweight” rating and set a $63.00 price objective (up from $62.00) on shares of Marathon Petroleum Corporation in a report on Tuesday, October 10th. Finally, BidaskClub raised shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Marathon Petroleum Corporation has a consensus rating of “Buy” and a consensus target price of $60.63.
In related news, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.05% of the company’s stock.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.