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Market Update: Marathon Petroleum Corporation (NYSE:MPC) – Marathon Petroleum Corporation Announces Dividend

[GlobeNewswire] – FINDLAY, Ohio, April 27, 2016 – Marathon Petroleum Corporation (NYSE: MPC) announced today that its board of directors declared a dividend of $0.32 per share on common stock. The dividend is payable June … Read more on this. Marathon Petroleum Corporation (MPC) , with a current value of $22.55B, opened at $41.71. During the trading session, MPC traded between $40.80 to $42.25 with the price of the stock fluctuating between $29.24 to $60.38 over the last 52 weeks. MPC shares are currently priced at 10.83x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -4.01x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.28 per share annually in dividends, yielding 3.09%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $0.15 per share, which would be $1.47 worse than the year-ago quarter and a $0.78 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $3.83, which would be a $2.03 setback when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $13.08 Billion. If reported, that would be a 24.13% decrease over the year-ago quarter. More recently, BofA/Merrill upgraded MPC from Neutral to Buy (Mar 3, 2016). Previously, JP Morgan downgraded MPC from Overweight to Neutral. Given all the information above, we should disclose to readers that the average price target is $52.87, which is 26.76% above than it opened this morning. See more in (NYSE:MPC) Similar Articles: Company Update: Marathon Petroleum Corporation (NYSE:MPC) – Marathon Petroleum Corp. vice president, general counsel and secretary to retire Stock Update: Marathon Petroleum Corporation (NYSE:MPC) – Marathon Petroleum Corporation Announces Senior Management Changes Stock Update: Marathon Petroleum Corporation (NYSE:MPC) – Marathon Petroleum Corporation Announces Dividend
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