Marathon Petroleum to Buy Andeavor for over $20B

Marathon Petroleum to Buy Andeavor for More Than $20 Billion

Marathon's sales jumped every quarter past year and it's the same story for Andeavor. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, May 2nd.

Marathon expects the deal to generate approximately $1bn of tangible annual run-rate synergies within the first three years in addition to enhancing long-term cash flow generation profile.

Bart Baum decreased its stake in Marathon Oil Corp (MRO) by 92.67% based on its latest 2017Q4 regulatory filing with the SEC. Zacks' EPS averages are an average based on a survey of sell-side analysts that follow Marathon Oil.

Andeavor's refineries in California, the Mid-Continent and the Pacific Northwest are expected to complement MPC's existing Gulf Coast and Midwest refining footprint. The oil and gas company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.00 by $0.05. Marathon Petroleum had a net margin of 4.60% and a return on equity of 9.90%. Principal Financial Grp Inc holds 0.23% of its portfolio in Marathon Petroleum Corporation (NYSE:MPC) for 3.76M shares. Marathon Petroleum's revenue was up 22.9% compared to the same quarter a year ago. A thoroughly researched analyst report will typically provide detailed reasoning for a specific target price estimate. Ticker's shares touched $77.27 during the last trading session after 5.11% change.Marathon Petroleum Corporation has 14.27 million shares volume, 252.37% up from normal. The stock has been active on the tape, now trading at $77.04, down from yesterday's close by -0.72%. The stock of Marathon Petroleum Corporation (NYSE:MPC) earned "Buy" rating by RBC Capital Markets on Wednesday, July 5. Conning Inc holds 0.97% or 446,110 shares. R. F. Lafferty reaffirmed a "buy" rating and issued a $27.00 price objective (up previously from $26.00) on shares of Marathon Oil in a research note on Tuesday, February 20th.

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Among 20 analysts covering Marathon Petroleum Corp (NYSE:MPC), 14 have Buy rating, 0 Sell and 6 Hold. The stock now has an average rating of "Hold" and an average price target of $18.33.

Focusing in on analyst opinions, we note that the current average broker recommendation on shares of Marathon Oil Corporation (NYSE:MRO) is presently 1.82. 2,946,925 shares of the company traded hands, compared to its average volume of 3,914,656. Marathon Oil has a 1-year low of $10.55 and a 1-year high of $19.52. The company has market cap of $36.08 billion. This organization's current ratio is 1.70 and its quick ratio is 1.10 at the time of writing. Another trade for 20,000 shares valued at $1.40M was made by Kelley Thomas M. on Tuesday, March 13. Moving averages have the ability to be used as a powerful indicator for technical stock analysis. BUNCH CHARLES E also bought $101,070 worth of Marathon Petroleum Corporation (NYSE:MPC) on Tuesday, March 6.

The transaction is planned to be completed in the second half of 2018. The disclosure for this purchase can be found here. Palmer C. Michael sold $1.12 million worth of stock or 17,298 shares. Millennium Management LLC raised its holdings in Marathon Oil by 82.1% in the 4th quarter. It also increased its holding in Exxon Mobil Corp (NYSE:XOM) by 3,616 shares in the quarter, for a total of 149,897 shares, and has risen its stake in Energen Corp (NYSE:EGN). Foster's shares in Andeavor are valued at more than $988 million. Cannell Capital Llc sold 224,768 shares as the company's stock declined 35.65% with the market.

COPYRIGHT VIOLATION NOTICE: This report was originally published by Week Herald and is the sole property of of Week Herald. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of US and worldwide copyright law. It will be supported by a joint network of retail stations, oil, natural gas and refined products pipelines. The Company operates through three segments: North America E&P (N.A. E&P), global E&P (Int'l E&P), and Oil Sands Mining (OSM).

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