Marathon Petroleum Corporation (MPC) and the Teamsters union, representing 275 workers, have successfully resolved their three-month strike at the Detroit refinery and entered into a seven-year collective bargaining agreement promising significant benefits and marking the end of the prolonged standoff.Collective Agreement Marking Long-Term BenefitsAn accord between MPC and the Teamsters union was inked after more than a year of negotiations and the first major three-month strike at the Detroit refinery in 3 ...

LIMASSOL, Cyprus, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping company, announces that on December 12, 2024, it entered, through a wholly owned subsidiary, into an Share Purchase Agreement (“SPA”) with MPC Münchmeyer Petersen & Co. GmbH (“MPC Holding”) for the acquisition of 26,116,378 shares representing 74.09% of the shares of the Frankfurt-listed investment and asset manager MPC Münchmeyer Petersen Capital AG (Deutsche B ...

Marathon Petroleum (MPC) closed at $151.97 in the latest trading session, marking a +0.6% move from the prior day. The stock lagged the S&P 500's daily gain of 0.82%. On the other hand, the Dow registered a loss of 0.22%, and the technology-centric Nasdaq increased by 1.77%.The refiner's stock has dropped by 2.67% in the past month, falling short of the Oils-Energy sector's loss of 2.1% and the S&P 500's gain of 0.8%.Investors will be eagerly watching for the performance of Marathon Petroleum in its upcomin ...

Income-oriented individual investor focusing on building a solid dividend portfolio within oil and gas, shipping, energy, and minerals. I am investing my own money and do not work on behalf of others or a company, such as an investment firm. My formal qualification is an MSc in Business, where I majored in Finance.Analyst’s Disclosure: I/we have a beneficial long position in the shares of MPZZF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my ow ...

George Washington's portrait on the one-dollar bill alongside the US flaggettyTrump’s win cements what we’ve been saying for months: You can forget about a hard landing or a soft landing—This economy is headed for no landing at all.In the last few weeks, I’ve started to see the mainstream media pick up on our thinking here. Nice to see they’re finally catching up!We’ve got two “refined” trades on Trump 2.0 below (ranked in order of appeal). They’re both growing their dividends, and they’ve both been unfairl ...

Core Insights - U.S. gasoline inventories have dropped to their lowest levels in two years due to strong demand and tighter fuel supplies, with a reported 6% increase in gasoline demand for the week ending Nov. 8 [1] - The EIA's November 2024 short-term Energy outlook forecasts a moderate increase in crack spreads, indicating higher refining margins driven by shrinking refinery capacity and planned closures of major U.S. refineries [2] - Rising U.S. demand for gasoline and diesel, driven by industrial activity and transportation needs, is expected to outpace reduced refinery output, further elevating crack spreads [3] - Global refinery additions are not sufficient to offset U.S. refinery closures, leading to continued upward pressure on domestic refining margins [4] Company Insights - Phillips 66 operates nine refineries in the U.S. and two in Europe, with a daily crude processing capacity of 1.8 million barrels, focusing on financial stability and maximizing shareholder returns [6] - Marathon Petroleum has 13 refineries with a total refining capacity of 3 million barrels per day, optimizing processing to produce higher-margin products [7] - ExxonMobil operates one of the largest refining businesses globally, with 21 refineries and a distillation capacity of nearly 5 million barrels per day, selling over 5.4 million barrels of petroleum products daily [8][9] Investment Opportunities - Companies like Phillips 66, Marathon Petroleum, and ExxonMobil are expected to benefit from widening crack spreads, translating to greater profitability in refining operations [5]

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 brokerage ...

Independent oil refiner and marketer Marathon Petroleum Corporation (MPC) reported third-quarter adjusted earnings per share of $1.87, which comfortably beat the Zacks Consensus Estimate of 97 cents. The outperformance primarily reflects the stronger-than-expected performance of its Refining & Marketing segment. The operating income of the segment totaled $298 billion, surpassing the consensus mark, calling for a loss of $64 million on the back of strong product sales and throughput.However, the company’s b ...

Shares of Marathon Petroleum (NYSE: MPC ) have performed poorly for several months, erasing all of their gains amid concerns about the refining cycle. MPC got a much-needed pop on Tuesday after reporting Q3 earnings with the stock up over 3%. Still, shares areOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an art ...

1 Third Quarter 2024 Earnings Conference Call November 5, 2024 Forward-Looking Statements This press release contains forward-looking statements regarding MPC. These forward-looking statements may relate to, among other things, MPC's expectations, estimates and projections concerning its business and operations, financial priorities, strategic plans and initiatives, capital return plans, capital expenditure plans, operating cost reduction objectives, and environmental, social and governance ("ESG") plans an ...