Marathon Petroleum Corporation (NYSE:MPC) is expected to report third quarter earnings results, before market open, on Monday 2nd November 2020.
Analysts polled by Thomson Reuters anticipate third quarter loss of $ 1.55 per share.
Looking ahead, the full year loss are expected at $ 4.27 per share on the revenues of $ 72591.60 million.
Previous Quarter Performance
Marathon Petroleum Corporation unfold loss for the second quarter of $ 1.33 per share, from the revenue of $ 15,198.00 million. The quarterly revenues shrunk 54.89 percent compared with the same quarter last year. Wall street analysts are predicting, MPC to report 2Q20 loss of $ 1.75 per share from revenue of $ 18884.60 million. The bottom line results beat street analysts by $ 0.42 or 24.00 percent, at the same time, top line results fell short of analysts by $ 3 million or 19.52 percent.
Stock Performance
On Friday, shares of Marathon Petroleum Corporation has traded high as $ 29.53 and has cracked $ 28.16 on the downward trend, reaching $ 29.50 with volume of 8.78 million shares.
According to the previous trading day, closing price of $ 29.50, representing a 88.93 % increase from the 52 week low of $ 15.26 and a 58.05 % decrease over the 52 week high of $ 68.73.
The company has a market capital of $ 19.20 billion and is part of the Energy sector and Oil & Gas Refining & Marketing industry.
Recent Analyst recommendations
- On 19th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 39.00 target price.
- On 9th September 2020, maintained by Piper Sandler at Overweight rating, with $ 45.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.58 per share on July 29, 2020. The dividend were payable on September 10, 2020 to holders of record as of the close of business on August 19, 2020 and ex-dividend date on August 18, 2020.
Conference Call
Marathon Petroleum Corporation will be hosting a conference call at 9:30 AM eastern time on 2nd November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.marathonpetroleum.com
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, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
