MPC - Marathon Petroleum Corporation

NYSE - Nasdaq Real Time Price. Currency in USD
61.96
+0.11 (+0.18%)
As of 3:20PM EST. Market open.
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Previous Close61.85
Open61.75
Bid61.89 x 900
Ask61.90 x 800
Day's Range59.82 - 62.15
52 Week Range43.96 - 69.65
Volume4,893,290
Avg. Volume6,254,900
Market Cap40.232B
Beta (3Y Monthly)1.71
PE Ratio (TTM)13.36
EPS (TTM)4.64
Earnings DateFeb 5, 2020 - Feb 10, 2020
Forward Dividend & Yield2.12 (3.43%)
Ex-Dividend Date2019-11-19
1y Target Est81.00
  • MPLX, Partners Hold Binding Open Season for Whistler Pipeline
    Zacks

    MPLX, Partners Hold Binding Open Season for Whistler Pipeline

    MPLX (MPLX) expects the 42-inch Whistler Pipeline to come online in the summer of 2021.

  • Estimating The Intrinsic Value Of Marathon Petroleum Corporation (NYSE:MPC)
    Simply Wall St.

    Estimating The Intrinsic Value Of Marathon Petroleum Corporation (NYSE:MPC)

    How far off is Marathon Petroleum Corporation (NYSE:MPC) from its intrinsic value? Using the most recent financial...

  • U.S. Oil Producers Churn Out Unprecedented Level of Oil
    Zacks

    U.S. Oil Producers Churn Out Unprecedented Level of Oil

    The federal government's EIA report revealed that domestic crude production climbed to yet another record high of 12.8 million barrels per day.

  • Moody's

    LOOP LLC -- Moody's assigns (P)A3 rating to LOOP's new medium term note program and deepwater port revenue bonds

    Note: On November 13, 2019, the press release was corrected as follows: In the debt list, under Assignments for Louisiana Offshore Terminal Authority, the descriptions of the Deepwater Port Revenue Bonds were changed to Senior Secured Deepwater Port Revenue Bond (Series 2007A), Senior Secured Deepwater Port Revenue Bond (Series 2013A) and Senior Secured Deepwater Port Revenue Bond (Series 2013C). New York, November 12, 2019 -- Moody's Investors Service ("Moody's") assigned an A3 issuer rating to LOOP LLC and concurrently assigned a provisional (P)A3 rating to Louisiana Offshore Terminal Authority's (LOTA) proposed $175.5 million medium term note program and assigned an A3 rating to three secured industrial revenue bonds (Series 2007A, Series 2013A, and Series 2013C) LOTA issued under its Deepwater Port Revenue Bonds program.

  • Former NuStar, Andeavor executives launch energy company in SA
    American City Business Journals

    Former NuStar, Andeavor executives launch energy company in SA

    John Roller and Karen Vázquez were raising families in the Alamo City when they were asked to lead a new company.

  • Thomson Reuters StreetEvents

    Edited Transcript of MPC earnings conference call or presentation 31-Oct-19 1:30pm GMT

    Q3 2019 Marathon Petroleum Corp Earnings Call

  • American City Business Journals

    Ex-Andeavor executive's lawsuit to recover bonus moves forward

    Keith Casey's lawsuit is one of two suits alleging that Ohio-based Marathon Petroleum shorted former Andeavor employees on bonuses.

  • MPC, VLO, and PSX: Who Surprised Wall Street in Q3?
    Market Realist

    MPC, VLO, and PSX: Who Surprised Wall Street in Q3?

    Downstream firms Marathon Petroleum (MPC), Valero Energy (VLO), and Phillips 66 (PSX) had a mixed performance in the third quarter.

  • Meet the Dayton region's billion-dollar businesses
    American City Business Journals

    Meet the Dayton region's billion-dollar businesses

    The Dayton region is home to 10 billion-dollar businesses, with many remaining strong leaders in the local economy.

  • Moody's

    Marathon Petroleum Corporation -- Moody's changes Marathon Petroleum's and MPLX's outlooks to negative

    Moody's Investors Service ("Moody's") changed Marathon Petroleum Corporation's (MPC) outlook to negative from stable, while affirming its Baa2 senior unsecured rating and its P-2 short-term rating. Moody's also changed MPLX LP's (MPLX) outlook to negative from stable, while affirming its Baa2 senior unsecured rating.

  • Marathon Petroleum Bows to Activists With Spinoff, CEO Exit
    Bloomberg

    Marathon Petroleum Bows to Activists With Spinoff, CEO Exit

    (Bloomberg) -- Marathon Petroleum Corp. buckled under pressure from shareholders and announced the spinoff of its retail fuel-station business and the departure of its Chairman and Chief Executive Officer, just five weeks after activist investor Elliott Management Corp. went public with demands for a radical overhaul of the company.Marathon confirmed the plan Thursday, along with a review of its pipeline business. Gary Heminger, a four-decade company veteran, will retire next year and is stepping down from pipeline affiliate MPLX LP this week. Executive Vice Chairman Gregory Goff, who has been discussed as a possible successor to Heminger, is also retiring.The sweeping changes give the dissident shareholders much of what they were looking for. Elliott had called on Findlay, Ohio-based Marathon, the second-largest U.S. oil refiner, to improve its performance by breaking itself up into three separate companies: retail, which largely operates under the Speedway brand, refining and pipelines. Other investors had agitated for Heminger’s ouster.”The wish list was pretty well fulfilled with today’s slew of announcements,” said Roger Read, an analyst at Wells Fargo Securities.The CEO’s retirement, first reported by Bloomberg, will come after next year’s shareholders meeting. Marathon said it will search both in and outside of the company for potential successors. The shareholders meeting will also see Marathon put to a vote the de-staggering of board members so that all directors stand for reelection annually instead of just a few at a time, as is the case now, the company said in a filing.In contrast to Heminger’s exit, Goff’s departure has come as a surprise. The activists had viewed him as a well-respected executive who could have taken on the top job. Goff had joined Marathon after its purchase of rival refiner Andeavor last year.However, by the time the CEO search process concludes, Goff will have little more than a year left before hitting Marathon’s mandatory retirement age of 65, and that’s one reason why he chose to leave, according to people familiar with the matter. Heminger was exempted from the age limit last year.New DebtThere are no standstill agreements in place with any of the activists, meaning that they’re free to agitate for further changes if they don’t like the direction the company is going in, according to the people, who asked not be identified because the information hasn’t been made public. A Marathon representative declined to comment.“The actions announced today will unlock substantial value for shareholders,” Elliott said in a statement. “We commend Gary and the board for taking action to allow these businesses to realize their full potential.”Heminger took charge of the fuel maker when it was spun off from Marathon Oil Corp. in 2011. While he has previously assuaged investors including Jana Partners and overseen a fivefold rise in dividend payouts, the company faltered more recently as it sought to expand through acquisitions, including the purchase of Andeavor.Marathon fell 3.4% to $63.95 amid a broad sell-off in energy stocks Thursday. It has lost roughly 20% of its value after closing the $22 billion deal for Andeavor.As part of the planned separation, Speedway will raise new debt and pay a dividend to Marathon, Heminger told analysts and investors on a conference call. The unit has a potential enterprise value of $15 billion to $18 billion, according to Marathon, which plans to retain its direct-dealer business. Meanwhile, Michael J. Hennigan will take over as CEO of MPLX effective Friday.As of last week, Marathon was in active discussions with possible buyers for its 68,000-barrel-per-day Kenai oil refinery near Anchorage and its 58,500-barrel Salt Lake City plant, people familiar with the situation said at the time. Kenai was among “several logical non-core” assets flagged for sale by Elliott in a presentation published last month.The separation of Speedway won’t require a shareholder vote, but will be subject to final approval by the board and other customary conditions. Marathon said it will initiate a nationwide search for a Speedway CEO from both internal and external sources.(Updates with closing share price in 11th paragraph.)\--With assistance from Catherine Ngai.To contact the reporters on this story: David Wethe in Houston at dwethe@bloomberg.net;Scott Deveau in New York at sdeveau2@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net;Liana Baker at lbaker75@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Former Andeavor CEO leaving Marathon Petroleum
    American City Business Journals

    Former Andeavor CEO leaving Marathon Petroleum

    Former CEO of San Antonio-based Andeavor Gregory Goff is leaving Marathon Petroleum Corp. at the end of this year, Marathon announced Thursday.

  • Marathon Petroleum’s Earnings Rise 49%, Beat Estimate
    Market Realist

    Marathon Petroleum’s Earnings Rise 49%, Beat Estimate

    Today, Marathon Petroleum (MPC) released results for the third quarter, during which its earnings rose 49% YoY (year-over-year) to $1.1 billion.

  • Marathon Petroleum (MPC) Q3 Earnings Top as Throughput Rises
    Zacks

    Marathon Petroleum (MPC) Q3 Earnings Top as Throughput Rises

    Marathon Petroleum (MPC) announced plans to separate its Speedway (or the retail) business.

  • Reuters

    UPDATE 4-Marathon Petroleum to change CEO, split company after hedge fund campaign

    Marathon Petroleum Corp chief Gary Heminger will leave next year, the largest U.S. independent refiner said on Thursday, adding it would launch a sweeping restructuring demanded by activist investors, including the spinoff of retail operations. The changes were a victory for Elliott Management, DE Shaw and other investors that had sought a shakeup to boost the company's lagging share price following its troubled 2018 acquisition of rival Andeavor. The $23 billion Andeavor deal gave Marathon a coast-to-coast refining network.

  • MarketWatch

    Marathon Petroleum beats profit expectations and plans to spin off Speedway, as CEO announces retirement

    Shares of Marathon Petroleum Corp. rallied 2.2% in premarket trading, after the energy company reported third-quarter profit that beat expectations but revenue that missed, announced plans to spin off its Speedway business and said its long-time CEO plans to retire. Net income rose to $1.10 billion, or $1.66 a share, from $737 million, or $1.62 a share, in the year-ago period. Excluding non-recurring items, adjusted EPS of $1.63 was above the FactSet consensus of $1.34. Revenue grew to $31.20 billion from $23.13 billion but was below the FactSet consensus of $32.74 billion. Separately, the company said it plans to form a special committee to evaluate strategic alternatives, such as ways to maximize value of its midstream earnings and cash flow. And Marathon Chief Executive Gary Heminger announced plans to retire, after more than 8 years in the role, and 44 years with the company. The company has appointed a committee to search for his successor. The stock has hiked up 17.4% over the past three months through Wednesday, while the S&P 500 has gained 2.2%.

  • PR Newswire

    Gary R. Heminger Announces Plan To Retire From Marathon Petroleum In 2020 After 45 Years

    FINDLAY, Ohio, Oct. 31, 2019 /PRNewswire/ -- Gary R. Heminger, Chairman and Chief Executive Officer of Marathon Petroleum Corporation (MPC), today announced his plan to retire from MPC, where he has served as president and CEO since the company's spin-off from Marathon Oil in June 2011, and as chairman and CEO since 2016.

  • PR Newswire

    Marathon Petroleum Corporation And MPLX LP Announce The Retirement Of Gregory J. Goff And Appointment Of Michael J. Hennigan As CEO Of MPLX GP LLC

    FINDLAY, Ohio , Oct. 31, 2019 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) and MPLX LP (NYSE: MPLX) today announced that Gregory J. Goff , executive vice chairman of MPC and a member of each ...

  • PR Newswire

    Marathon Petroleum Corp. Reports Third-Quarter Results

    FINDLAY, Ohio , Oct. 31, 2019 /PRNewswire/ -- Reported income of $1.1 billion ,  or $1.66 per diluted share; adjusted income of $1.1 billion , or $1.63 per diluted share Generated $2.8 billion of operating ...

  • PR Newswire

    Marathon Petroleum Provides Update On Strategic Review To Enhance Shareholder Value

    FINDLAY, Ohio, Oct. 31, 2019 /PRNewswire/ -- Marathon Petroleum Corporation (MPC) today announced its intention to separate Speedway into an independent, publicly traded company. Independent Speedway will consist of MPC's company-owned retail store operations with an expected 2019 EBITDA of approximately $1.5 billion. MPC will retain its direct-dealer business, with an expected 2019 EBITDA of approximately $0.4 billion, which is also included in the Retail segment as currently reported.

  • TheStreet.com

    Marathon Petroleum Stock Off as Spinoff Is Planned, CEO to Retire, Earnings Beat

    The stock slipped Thursday after the oil refiner said that it would spin off its Speedway gas station chain and that CEO Gary Heminger would retire next year. Third-quarter earnings also beat analyst estimates.

  • Rigzone.com

    Marathon Petroleum to Spin Off Retail Unit

    Marathon Petroleum buckled under pressure from activist investors and announced the spinoff of its retail fuel-station business and the departure of CEO Gary Heminger.