Wall Street brokerages expect that Marathon Petroleum Corp (NYSE:MPC) will post sales of $21.35 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Marathon Petroleum’s earnings, with the highest sales estimate coming in at $22.00 billion and the lowest estimate coming in at $20.70 billion. Marathon Petroleum reported sales of $19.39 billion during the same quarter last year, which indicates a positive year over year growth rate of 10.1%. The business is expected to issue its next quarterly earnings results on Thursday, October 25th.

According to Zacks, analysts expect that Marathon Petroleum will report full year sales of $81.02 billion for the current year, with estimates ranging from $76.40 billion to $85.43 billion. For the next fiscal year, analysts anticipate that the business will report sales of $81.92 billion per share, with estimates ranging from $73.00 billion to $88.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Marathon Petroleum.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.29. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The firm had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same period last year, the business posted $0.93 earnings per share. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis.

Several equities research analysts have weighed in on the company. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $80.00 target price (up from $73.00) on shares of Marathon Petroleum in a research report on Tuesday, May 1st. Zacks Investment Research lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Royal Bank of Canada lowered Marathon Petroleum from a “top pick” rating to an “outperform” rating in a research report on Wednesday, May 2nd. Jefferies Financial Group raised Marathon Petroleum from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $95.00 in a research report on Thursday, May 3rd. Finally, Bank of America raised Marathon Petroleum from a “neutral” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Thursday, May 10th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Marathon Petroleum currently has a consensus rating of “Buy” and a consensus target price of $85.47.

MPC traded up $0.42 during trading hours on Thursday, hitting $77.11. 3,374,328 shares of the stock were exchanged, compared to its average volume of 4,836,599. Marathon Petroleum has a 12 month low of $49.30 and a 12 month high of $83.33. The stock has a market capitalization of $36.50 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.34 and a beta of 1.40. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.60 and a quick ratio of 1.04.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Thursday, August 16th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Wednesday, August 15th. Marathon Petroleum’s dividend payout ratio (DPR) is 48.42%.

In other news, insider Thomas M. Kelley sold 24,818 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $79.47, for a total transaction of $1,972,286.46. Following the transaction, the insider now directly owns 51,869 shares of the company’s stock, valued at $4,122,029.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.09% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Andra AP fonden acquired a new position in shares of Marathon Petroleum during the second quarter valued at $6,258,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Marathon Petroleum by 54.6% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,710 shares of the oil and gas company’s stock worth $260,000 after acquiring an additional 1,310 shares during the period. Verition Fund Management LLC grew its holdings in Marathon Petroleum by 248.9% during the second quarter. Verition Fund Management LLC now owns 31,824 shares of the oil and gas company’s stock worth $2,233,000 after acquiring an additional 22,703 shares during the period. NorthCoast Asset Management LLC grew its holdings in Marathon Petroleum by 12.6% during the second quarter. NorthCoast Asset Management LLC now owns 346,890 shares of the oil and gas company’s stock worth $24,338,000 after acquiring an additional 38,783 shares during the period. Finally, B. Riley Financial Inc. acquired a new position in Marathon Petroleum during the second quarter worth about $222,000. 81.25% of the stock is currently owned by institutional investors.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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