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 ...

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]

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 ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Marathon Petroleum (MPC) came out with quarterly earnings of $1.87 per share, beating the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $8.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 92.78%. A quarter ago, it was expected that this refiner would post earnings of $3.04 per share when it actually produced earnings of $4.12, delivering a surprise of 35.53%.Over the last four quarters, the compan ...

Exhibit 99.1 Marathon Petroleum Corp. Reports Third-Quarter 2024 Results • Third-quarter net income attributable to MPC of $622 million, or $1.87 per diluted share • $2.5 billion of adjusted EBITDA and $1.7 billion of net cash provided by operating activities • Executing Midstream growth anchored in the Permian and Marcellus; $1.6 billion segment adjusted EBITDA in the third quarter, up nearly 6% year-over-year • Annually MPC expects to receive distributions of $2.5 billion following MPLX's 12.5% quarterly ...

FINDLAY, Ohio, Oct. 30, 2024 /PRNewswire/ -- The board of directors of Marathon Petroleum Corp. (NYSE: MPC) has declared a dividend of $0.91 per share on common stock, an increase of 10% over its previous dividend of $0.825 per share. The dividend is payable Dec. 10, 2024, to shareholders of record as of the close of business Nov. 20, 2024.About Marathon Petroleum CorporationMPC is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refi ...

Marathon Petroleum Corporation (MPC) is set to release third-quarter results on Nov. 5. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of 97 cents per share on revenues of $31.6 billion. Find the latest EPS estimates and surprises on Zacks Earnings Calendar. Let's delve into the factors that might have influenced the independent oil refiner and marketer's results in the September quarter. But it's worth taking a look at MPC's previous-quarter performance first. Highlights of ...