Marathon Petroleum

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $195, up $29, reflects a 7.1x multiple of projected 2024 operating cash flows, in line with MPC’s historical average. We raise our 2024 EPS view by $0.01, but lower 2025’s by $0.56 to $15.42. Q1 EPS of $2.58 vs. $6.09, in line with consensus. Q1 adj. EBITDA (~$3.3B) fell 38% Y/Y due to MPC’s Refining segment (-51%). Q4 refining utilization (82%) fell seven percentage points Y/Y, while throughput volumes (~2.7 mb/d) fell 6% due to turnaround activity. We believe MPC could face headwinds in 2024. The U.S. Energy Information Administration forecasts flat Y/Y refined product demand growth in 2024; however, concerns surrounding economic growth, while U.S. consumer savings have become almost exhausted, could weigh heavily on refined product demand. At the same time, […]

The following is a summary of the Marathon Petroleum Corporation (MPC) Q1 2024 Earnings Call Transcript: Financial Performance: Marathon Petroleum Corporation reported Q1 earnings per share of $2.58 and generated $3.3 billion of adjusted EBITDA, notably despite having 4 of their largest refineries in turnaround. They invested over $1.3 billion in capital expenditures, investments, and acquisitions in the quarter. The company announced an additional $5 billion share repurchase authorization, bringing the total capital returned to shareholders to $35 billion since May 2021, thus reducing the MPC share count by nearly 50%. The company increased its cash holdings by about $2 billion in Q1, culminating in a total of roughly $7 billion. Business Progress: Two new independent directors joined the MPC board from March 1. The company has plans to meet rising global oil demand primarily driven by requirements for transportation fuels. Investments are being channeled predominantly into refining large competitively

Wells Fargo analyst Roger Read maintains Marathon Petroleum (NYSE:MPC) with a Overweight and raises the price target from $214 to $227.

JP Morgan analyst John Royall maintains Marathon Petroleum (NYSE:MPC) with a Neutral and raises the price target from $172 to $186.

B of A Securities analyst Doug Leggate maintains Marathon Petroleum (NYSE:MPC) with a Neutral and raises the price target from $185 to $230.

Marathon Petroleum (NYSE:MPC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/05/2024 3% Barclays $163 → $168 Maintains Overweight 01/31/2024 13.43% Raymond James $175 → $185 Maintains Strong Buy 12/14/2023 3.62% Wells Fargo → $169 Upgrades Equal-Weight → Overweight 11/01/2023 7.3% Raymond James $171 → $175 Maintains Strong Buy 10/17/2023 -1.9% Morgan Stanley $150 → $160 Maintains Overweight 10/06/2023 1.78% Mizuho $178 → $166 Maintains Neutral 10/06/2023 4.84% Raymond James $177 → $171 Maintains Strong Buy 10/05/2023 -9.26% Piper Sandler $146 → $148 Maintains Neutral 09/20/2023 8.52% Raymond James $165 → $177 Maintains Strong Buy 09/18/2023 6.07% B of A Securities $162 → $173 Maintains Neutral 09/18/2023 9.14% Mizuho $161 → $178 Maintains Neutral 09/08/2023 -3.74% Wells Fargo $142 → $157 Maintains Equal-Weight 08/16/2023 — Mizuho Downgrades Buy → Neutral 08/15/2023 -0.67% B of A Securities $159 → $162 Downgrades Buy →

Marathon Petroleum (NYSE:MPC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 9.23% Raymond James $175 → $185 Maintains Strong Buy 12/14/2023 -0.21% Wells Fargo → $169 Upgrades Equal-Weight → Overweight 11/01/2023 3.33% Raymond James $171 → $175 Maintains Strong Buy 10/17/2023 -5.53% Morgan Stanley $150 → $160 Maintains Overweight 10/06/2023 -1.98% Mizuho $178 → $166 Maintains Neutral 10/06/2023 0.97% Raymond James $177 → $171 Maintains Strong Buy 10/05/2023 -12.61% Piper Sandler $146 → $148 Maintains Neutral 09/20/2023 4.51% Raymond James $165 → $177 Maintains Strong Buy 09/18/2023 2.15% B of A Securities $162 → $173 Maintains Neutral 09/18/2023 5.1% Mizuho $161 → $178 Maintains Neutral 09/08/2023 -7.3% Wells Fargo $142 → $157 Maintains Equal-Weight 08/16/2023 — Mizuho Downgrades Buy → Neutral 08/15/2023 -4.35% B of A Securities $159 → $162 Downgrades Buy → Neutral 08/07/2023 -3.16% Jefferies $140 → $164 Maintains

Marathon Petroleum Corporation (NYSE:MPC) Q4 2023 Earnings Conference Call January 30, 2024 11:00 AM ET Company Participants Kristina Kazarian – Investor Relations Mike Hennigan – Chief Executive Officer Maryann Mannen – President John Quaid – Chief Financial Officer Rick Hessling – Chief Commercial Officer Conference Call Participants Neil Mehta – Goldman Sachs Manav Gupta – UBS Doug Leggate – Bank of America Securities Paul Cheng – Scotiabank Roger Read – Wells Fargo John Royall – JPMorgan Theresa Chen – Barclays Ryan Todd – Piper Sandler Jason Gabelman – TD Cowen Operator Welcome to the MPC Fourth Quarter 2023 Earnings Call. My name is Sheila and I will be your operator for today’s call. [Operator Instructions] Please note that this conference is being recorded. I will now turn the call over to Kristina Kazarian. Kristina, you may begin. Kristina Kazarian Welcome to Marathon Petroleum’s fourth quarter 2023 earnings conference call. The

Marathon Petroleum Corp. Reports Fourth-Quarter 2023 Results PR Newswire FINDLAY, Ohio, Jan. 30, 2024 FINDLAY, Ohio, Jan. 30, 2024 /PRNewswire/ — — Fourth-quarter net income attributable to MPC of $1.5 billion, or $3.84 per diluted share; adjusted net income of $1.5 billion, or $3.98 per adjusted diluted share — Full-year 2023 net income attributable to MPC of $9.7 billion, or $23.63 per diluted share; adjusted net income of $9.7 billion, or $23.63 per adjusted diluted share — Full-year net cash provided by operating activities of $14.1 billion, supporting the return of $12.8 billion of capital to shareholders in 2023 — 2024 MPC standalone (excluding MPLX) capital spending outlook of $1.25 billion Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $1.5 billion, or $3.84 per diluted share, for the fourth quarter of 2023. This compares to net income attributable to MPC of $3.3 billion, or $7.09

Marathon Petroleum (NYSE:MPC) is set to give its latest quarterly earnings report on Tuesday, 2024-01-30. Here’s what investors need to know before the announcement. Analysts estimate that Marathon Petroleum will report an earnings per share (EPS) of $2.21. Marathon Petroleum bulls will hope to hear the company announce they’ve not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Marathon Petroleum Corp. Reports Third-Quarter 2023 Results FINDLAY, Ohio, Oct. 31, 2023 /PRNewswire/ —   — Third-quarter net income attributable to MPC of $3.3 billion, or $8.28      per diluted share; adjusted net income of $3.2 billion, or $8.14 per      adjusted diluted share   — Adjusted EBITDA of $5.7 billion; net cash provided by operating      activities of $5.0 billion, reflecting continued strong cash generation   — MPLX increases distribution 10%; MPC expects to receive an incremental      $200 million, for a total of $2.2 billion annually   — Returned $3.1 billion of capital through $2.8 billion of share      repurchases and $297 million of dividends   — Announced quarterly dividend increase of approximately 10% to $0.825 per      share and additional $5 billion share repurchase authorization Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $3.3 billion, or

Morgan Stanley analyst Connor Lynagh maintains Marathon Petroleum (NYSE:MPC) with a Overweight and raises the price target from $150 to $160.