The company surpassed consensus EPS estimates in each of the trailing four quarters and consensus revenue estimates in three of the trailing four quarters, which is impressive. Street expects MPC’s revenue and EPS for the fiscal fourth quarter ending December 2023 to be $35.40 billion and $2.84, respectively. As of September 30, 2023, its total current assets came at $36.28 billion, compared to $35.24 billion as of December 31, 2022. Its adjusted income per share increased 4.2% from the year-ago quarter to $8.14.įor the same quarter, adjusted net income attributable to MPC and adjusted EBITDA stood at $3.22 billion and $5.71 billion, respectively. In the fiscal third quarter that ended September 30, 2023, MPC’s total revenues and other income, and income from operations stood at $41.58 billion and $4.75 billion, respectively. In the fiscal third quarter, the company returned approximately $3.1 billion of capital to shareholders through $2.8 billion in share repurchases and $297 million of dividends. MPC’s trailing-12-month cash from operations of $17.38 billion is significantly higher than the industry average of $669.40 million. With the addition of this new authorization, the company has a total of $8.3 billion available under its share repurchase authorizations as of October 27. The Board of Directors approved an incremental $5 billion share repurchase authorization. The company has a record of paying dividends for 12 consecutive years. MPC’s dividend payments have grown at CAGRs of 9.9% and 10.8% over the past three and five years, respectively. Its annualized dividend rate of $3.30 per share translates to a dividend yield of 2.31% on the current share price. On October 25, MPC’s board of directors approved an increase to the quarterly dividend to $0.825 per share, payable to the shareholders on December 11, 2023. ![]() It operates in two segments: Refining & Marketing and Midstream. MPC operates as an integrated downstream energy company primarily in the United States. Given the industry tailwinds, it's time to examine the fundamentals of the three energy industry stocks. JPMorgan anticipates market stability next year, projecting an average price per barrel for Brent crude oil at $83. ![]() Goldman Sachs’ ( GS ) Asset & Wealth Management Investment Strategy Group suggests that throughout most of 2024, oil prices per barrel could oscillate between $70 and $100. exports.Īmid geopolitical turbulence and supply cuts from Saudi Arabia and Russia, robust oil prices will likely be maintained. Surging global prices coupled with supply disruptions and sanctions due to Ukraine's ongoing conflict have fueled the growing demand for U.S. appears poised to surpass Australia and Qatar to become the largest global supplier of Liquified Natural Gas (LNG) by 2023.
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