Marathon Petroleum Corp (NYSE:MPC) announced a quarterly dividend on Wednesday, July 31st, RTT News reports. Stockholders of record on Wednesday, August 21st will be paid a dividend of 0.53 per share by the oil and gas company on Tuesday, September 10th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Tuesday, August 20th.
Marathon Petroleum has increased its dividend by an average of 17.3% annually over the last three years and has raised its dividend every year for the last 8 years. Marathon Petroleum has a payout ratio of 42.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Marathon Petroleum to earn $7.80 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 27.2%.
Shares of NYSE:MPC opened at $46.22 on Friday. The company has a market cap of $29.89 billion, a P/E ratio of 6.82, a P/E/G ratio of 1.27 and a beta of 1.68. The company has a quick ratio of 0.63, a current ratio of 1.24 and a debt-to-equity ratio of 0.69. Marathon Petroleum has a 52 week low of $43.96 and a 52 week high of $88.45. The business has a fifty day simple moving average of $53.50 and a 200-day simple moving average of $56.73.
In related news, Director James E. Rohr acquired 12,500 shares of Marathon Petroleum stock in a transaction on Tuesday, June 11th. The shares were bought at an average price of $48.14 per share, for a total transaction of $601,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.06% of the company’s stock.
A number of equities research analysts have issued reports on the company. Royal Bank of Canada lowered their price target on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Credit Suisse Group lowered their price target on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Raymond James boosted their price target on Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Zacks Investment Research downgraded Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research report on Friday, May 17th. Finally, Cowen downgraded Marathon Petroleum from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $90.00 to $65.00 in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $82.62.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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