The most recent trading session ended with Marathon Petroleum (MPC) standing at $161.49, reflecting a +1.82% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.75%. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 1%. Heading into today, shares of the refiner had lost 11.42% over the past month, lagging the Oils-Energy sector's loss of 4.12% and the S&P 500's gain of 4.03% in that time. ...

Marathon Petroleum Corporation (MPC) , a Findlay, OH-based company specializing in oil and gas refining and marketing, recently obtained a revised air permit for its Detroit refinery from Michigan's environmental agency. This development marks a significant operational shift for the refinery, which had been subject to stringent production limits. The updated permit allows for increased crude oil throughput, setting the stage for enhanced production capabilities while maintaining a focus on environmental res ...

FINDLAY, Ohio, Sept. 6, 2024 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) will host a conference call on Tuesday, November 5, 2024, at 11 a.m. EST to discuss 2024 third-quarter financial results. Interested parties may listen to the conference call by visiting MPC's website at www.marathonpetroleum.com. A replay of the webcast will be available on MPC's website for two weeks. Financial information, including the earnings release and other investor-related material, will also be available online prio ...

CaraMaria/iStock via Getty Images Investment Thesis MPC Container Ships (OTCPK:MPZZF) recently reported another strong quarter. Its Q2 eamings were $84 million on revenues of $131 million. It declared a $0.10 dividend, the 11th in a row, bringing its yield to about 28%. 76 percent of 2025 and 42 percent of 2026 are already fixed at reasonably good rates. Since I took up coverage of MPZZF in Q4 2023, the company has continued executing its fleet optimization strategy. This has resulted in a relatively new fl ...

Marathon Petroleum (MPC) ended the recent trading session at $171.75, demonstrating a -1.19% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.16% for the day. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw a decrease of 0.3%. Shares of the refiner witnessed a gain of 1.71% over the previous month, beating the performance of the OilsEnergy sector with its gain of 0.93% and underperforming the S&P 500's gai ...

Marathon Petroleum Corporation (MPC) is a major player in the U.S. petroleum industry, handling refining, marketing and transporting petroleum products. With a significant presence in key regions, including the Gulf Coast, Midwest and West Coast, MPC operates a highly integrated refining system that efficiently processes crude oil into a wide range of products, including gasoline, diesel, jet fuel and petrochemicals. The company's extensive network of assets, including refineries, pipelines and storage faci ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about Marathon Petroleum (MPC) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Marathon Petroleum currently has an average brokerag ...

Core Insights - Marathon Petroleum Corporation (MPC) reported second-quarter adjusted earnings per share of $4.12, exceeding the Zacks Consensus Estimate of $3.04, driven by strong performance in its Refining & Marketing segment [1] - The company's revenues reached $38.4 billion, surpassing the Zacks Consensus Estimate of $32 billion and reflecting a 4.2% year-over-year improvement [2] - The refining margin decreased to $17.37 per barrel from $22.10 a year ago, while capacity utilization increased to 97% from 93% in the same period of 2023 [3] Financial Performance - Operating income for the Refining & Marketing segment was $1.3 billion, down 42.3% from $2.3 billion in the previous year, primarily due to lower margins [2] - Total refined product sales volumes were 3,742 thousand barrels per day, a decrease from 3,581 mbpd in the year-ago quarter, while throughput increased to 3,065 mbpd from 2,925 mbpd [3] - Operating costs per barrel decreased from $5.15 to $4.97 year-over-year [4] Capital Expenditure and Debt - Marathon Petroleum spent $569 million on capital programs in the second quarter, with 53% allocated to Refining & Marketing and 42% to the Midstream segment, compared to $562 million in the prior year [7] - As of June 30, the company had cash and cash equivalents of $4.4 billion and total debt of $28.9 billion, resulting in a debt-to-capitalization ratio of 50.9% [7] Share Repurchase - In the second quarter, MPC repurchased $2.9 billion of shares and an additional $900 million in July, with a remaining authorization of $5.8 billion [8]

Financial Data and Key Metrics Changes - Marathon Petroleum Corporation generated second quarter adjusted earnings per share of $4.12, with adjusted EBITDA increasing sequentially by $133 million, driven by improved results in both Refining & Marketing and Midstream segments [8][9] - The company reported cash from operations, excluding working capital impacts, of $2.7 billion, with total capital return of $3.2 billion to shareholders [8][14] - The tax rate for the quarter was 16%, resulting in a tax provision of $373 million [9] Business Line Data and Key Metrics Changes - The Refining & Marketing segment achieved a refining utilization rate of 97%, processing nearly 2.9 million barrels of crude per day, with operating costs at $4.97 per barrel [10] - The Midstream segment, primarily through MPLX, generated strong cash flows, contributing $550 million in cash flow to MPC [12][14] - Adjusted R&M EBITDA per barrel was reported at $7.07, leading refining peers [8] Market Data and Key Metrics Changes - The global demand for refined products reached new records, with expectations for 2024 to see continued record consumption [4] - The U.S. refining industry is expected to remain structurally advantaged, with limited global refining capacity additions anticipated through the end of the decade [5] Company Strategy and Development Direction - The company is focused on operational excellence, commercial execution, and disciplined capital investments in high-return projects to optimize assets [5][17] - The strategy includes enhancing the midstream growth to deliver cash flow uplift and maintaining a competitive advantage through geographic diversification [6][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term demand growth outpacing near-term capacity additions, supporting an enhanced mid-cycle environment for refining [4][35] - The company anticipates a utilization rate of 90% for the third quarter, with planned turnaround expenses projected at approximately $330 million [15][38] Other Important Information - The company returned $2.9 billion through share repurchases and $290 million in dividends during the quarter, with a remaining $5.8 billion under current share repurchase authorizations [14] - MPLX's recent transactions are expected to enhance its Permian NGL value chain and provide a compelling value proposition [6][7] Q&A Session Summary Question: Thoughts on MPLX distribution growth - Management confirmed a strategy targeting mid-single-digit growth in MPLX distributions, which supports MPC's capital needs and dividend coverage [20][21] Question: Drivers of Gulf Coast operating costs - Management attributed the low Gulf Coast operating costs to initiatives focused on profitability per barrel and operational efficiencies [22][23] Question: Key objectives for the new CEO - The new CEO emphasized creating exceptional value, focusing on operational excellence, and maintaining competitive capital allocation [25][26] Question: M&A considerations in renewable diesel - Management clarified that there are no ongoing discussions regarding a buyout with Neste and emphasized organic growth opportunities within their portfolio [27] Question: Impact of TMX on operations - Management indicated that the start-up of TMX has proceeded as anticipated, with no significant operational changes expected [29][30] Question: Market structure and utilization outlook - Management believes in an enhanced mid-cycle for the U.S. refining industry, with steady demand for gasoline and diesel, and strong signals for jet fuel [34][36] Question: Utilization guidance for Q3 - Management confirmed that the 90% utilization guidance reflects planned turnaround activities and is aligned with market demand [38] Question: Performance of Martinez facility - Management reported that the Martinez facility is on track to reach full capacity by year-end, currently operating at 75% of nameplate capacity [40] Question: Shareholder returns and buyback strategy - Management reiterated commitment to share buybacks as a primary return of capital strategy, despite recent increases in net debt [42][43] Question: Mid-Con gross margin performance - Management attributed strong gross margins in the Mid-Con to the competitive advantage of their integrated system [44] Question: Dividend growth policy - Management stated that the dividend policy remains focused on sustainable growth, with a historical compound annual growth rate of 12.5% [47] Question: Balance of buybacks and balance sheet management - Management confirmed no plans to relever the balance sheet, maintaining a disciplined approach to capital structure [48]

Company Performance - Marathon Petroleum reported quarterly earnings of $4.12 per share, exceeding the Zacks Consensus Estimate of $3.04 per share, but down from $5.32 per share a year ago, representing an earnings surprise of 35.53% [1] - The company posted revenues of $38.36 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 19.75% and up from $36.82 billion year-over-year [2] - Over the last four quarters, Marathon Petroleum has consistently surpassed consensus EPS and revenue estimates [2] Stock Outlook - The stock has gained approximately 9.2% since the beginning of the year, outperforming the S&P 500's gain of 8.7% [3] - The current consensus EPS estimate for the upcoming quarter is $4.34 on revenues of $32.55 billion, and for the current fiscal year, it is $13.71 on revenues of $134.66 billion [7] Industry Context - The Oil and Gas - Refining and Marketing industry is currently ranked in the bottom 11% of over 250 Zacks industries, indicating potential challenges for stocks within this sector [8] - The performance of Marathon Petroleum's stock may be influenced by the overall outlook for the industry, as empirical research shows a strong correlation between stock movements and earnings estimate revisions [5][8]