Marathon Petroleum Corporation (MPC) to Issue Quarterly Dividend of $1.00 on June 10th

Marathon Petroleum Corporation (NYSE:MPC) announced a quarterly dividend on Wednesday, April 29th. Stockholders of record on Wednesday, May 20th will be given a dividend of 1.00 per share by the oil and gas company on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, May 20th.

Marathon Petroleum has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Marathon Petroleum has a payout ratio of 34.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Marathon Petroleum to earn $24.01 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 16.7%.

Marathon Petroleum Stock Up 2.9%

Shares of MPC opened at $248.80 on Friday. The firm has a market cap of $73.27 billion, a P/E ratio of 18.64, a PEG ratio of 0.36 and a beta of 0.58. Marathon Petroleum has a 12 month low of $136.80 and a 12 month high of $255.77. The stock’s 50 day moving average is $226.00 and its two-hundred day moving average is $199.36. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The business had revenue of $32.57 billion during the quarter, compared to the consensus estimate of $30.89 billion. During the same period in the prior year, the company posted $0.77 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Analysts predict that Marathon Petroleum will post 26.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,810 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total value of $406,851.80. Following the completion of the sale, the insider owned 10,188 shares of the company’s stock, valued at approximately $2,290,058.64. This represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 4,473 shares of company stock worth $1,015,428. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cedar Mountain Advisors LLC acquired a new position in Marathon Petroleum in the first quarter valued at about $40,000. Navalign LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $31,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Marathon Petroleum during the 3rd quarter worth approximately $39,000. Finally, IAG Wealth Partners LLC acquired a new stake in Marathon Petroleum in the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.