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Company Update: Marathon Petroleum Corporation (NYSE:MPC) – Usher to retire as Marathon Petroleum chairman; Heminger to succeed

[ACN Newswire] – Thomas J. Usher, chairman of the board of Marathon Petroleum Corporation ( NYSE:MPC – News ) announced today that he will retire following the company’s Annual Meeting of Shareholders on April 27, 2016. MPC’s Board of Directors has elected Gary R. Heminger, the company’s president and chief executive officer, to succeed Usher as chairman in addition to his current duties when the meeting ends. “Tom has been an invaluable contributor to our company’s success, providing outstanding leadership and keen vision at pivotal times in our company’s long history that have helped put us on a path for long-term success,” Heminger said. Read more on this. Marathon Petroleum Corporation (MPC) , with a current value of $18.45B, opened this morning at $31.15. During today’s session, MPC traded between $30.95 to $34.09 with the price of the stock fluctuating between $29.24 to $60.38 over the last 52 weeks. Marathon Petroleum (MPC) shares are currently priced at 7.25x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 16.91x earnings multiple for the same period. The company pays shareholders $1.28 per share in dividend income per year, for a current yield of 4.05%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $0.41 per share, which would be $1.21 worse than the year-ago quarter and a $0.50 sequential decrease. The full-year EPS estimate is $4.36, which would be a $1.50 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $14.14 Billion. If reported, that would be a 17.98% decrease over the year-ago quarter. In terms of ratings, JP Morgan downgraded MPC from Overweight to Neutral (Feb 5, 2016). Previously, BofA/Merrill upgraded MPC from Underperform to Neutral. With the above information in mind, readers should note that the average price target is $56.50, which is 81.38% above where the stock 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 Company Update: Marathon Petroleum Corporation (NYSE:MPC) – Marathon Petroleum Corp. increases cash consideration for MPLX/MarkWest merger
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