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Marathon Petroleum Corporation (MPC)

NYSE - NYSE Delayed Price. Currency in USD
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50.11+0.41 (+0.82%)
At close: 4:01PM EDT
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  • D
    Dennis
    Dennis
    Crack spreads weakened last week but it doesn't justify the beating that refiners are taking. I can't explain it.
  • A
    Abigail
    Abigail
    The last time MPC did something like this it blew up. This is so frustrating trying to find trade ideas. I've subscribed to some email newsletters which helps me with new stock ideas. awe*some*sto-cks is the one i like best.
  • D
    Dennis
    Dennis
    Encouraging...
    U.S. Gasoline Demand At All-Time High | OilPrice.com
    United States gasoline demand has just hit a new all-time high, despite EV sales in the United States having tripled since 2012
    oilprice.com
  • M
    Matt
    Matt
    One would hope that MPC would put any stock buybacks on hold. Trump and NK are not good for the market going forward.

    long term holder of MPC
  • D
    Doug Sheridan
    Doug Sheridan

    https://goo.gl/PTmWq6

    Happier at the Pump Than You Might Think
    If trends hold, 2017 it will mark the third year in a row Americans drive record distances. Virtually all will drive vehicles powered by petroleum products.
    goo.gl
  • D
    DennisK
    DennisK
    MPC benefit or hurt by Venezuela's collapse?
  • K
    Kaylee
    Kaylee
    Very difficult to see MPC not making a big run north. check out Awe.Som.e.Sto-cks., its a pretty reliable service. of course you have to do your own due diligence, but they generally point you in the right direction.
  • D
    Dennis
    Dennis
    Today MPC revised its second-quarter 2017 results to reflect settlement of injury claims from a 2016 fire at Galveston Bay
    The company recorded a charge of $86 million, or $0.10 per diluted share, in the second quarter of 2017. They had reserved for an estimated charge of $40 million, so the revision will reduce Q2 reported earnings by $0.05 per diluted share,
  • D
    Dennis
    Dennis
    MPC today declared a dividend of $0.40 per share, an 11 percent increase from the $0.36 per share dividend paid in the second quarter of 2017. The dividend is payable Sept 11, 2017, to shareholders of record as of the close of business Aug 16.
  • D
    Dennis
    Dennis
    MPC stock is up at the moment but I was very disappointed with the performance of the refining business. Record throughput and the higher LLS based crack spreads (gulf coast) should have produced a record quarter. Instead, the actual slate of crudes purchased -- and fuels sold -- reduced margins and offset the benefits. Management mostly blamed narrowing sweet/sour price differentials (due to OPEC cuts) but it later appeared that VLO management had the same issue -- and managed it much better.
    Speedway had record earnings. It is clear that CEO Heminger doesn't want to sell. He noted that activist investors may sell their shares if Speedway isn't sold. The board will decide. I think September is the new decision date. MPLX is doing well. More drop-downs are planned for January 2018.
    This may be unfair but I don't get the feeling that MPC is a well managed company right now. I hope they get the activist issues behind then soon and focus on the refining business. Export opportunities are encouraging,
  • A
    Anonymous
    Anonymous

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  • D
    DennisK
    DennisK
    27th around the corner, hopefully we will get the news on spin-off and nice dividend Increase/special dividend, along with a pop in earnings. Any one care to guess how this will affect stock? It can't seem to get over mid-fifties. Unless we see a big dip in the market (and we are due) I anticipate
    at least 65 before year end...long term holder..MPC one of my few winners in energy patch along with Suncor SU.
  • D
    DennisK
    DennisK
    spin-off, if any, in 3rd quarter. wonder how this would affect dividends going forward.......stockholders get to vote on this?
  • D
    Dennis
    Dennis
    The following are the indicative regional crack spread indicators provided by Marathon for
    Q2-17, Q1-17, and Q2-16, respectively.

    Chicago ____8.96___6.62 __9.47
    Gulf Coast__ 9.32___ 8.46__ 6.44
    Blended ____9.18___7.72__ 7.66

    Based solely on indicative crack spreads, Q2 earnings should be pretty good.
  • D
    Doug Sheridan
    Doug Sheridan

    Marathon Petroleum Corporation and Shell rate first in the U.S. Northeast in EnergyPoint Research's 2017 Gasoline Retailers Customer Satisfaction Survey. More here... https://goo.gl/p237At

  • D
    DennisK
    DennisK
    It's now mid-year, can we expect any news on spin-off? Perhaps at next earnings report along with the nice dividend increase??
  • D
    Dennis
    Dennis
    $VLO conversation
    $VLO, $TSO, $MPC, $PSX – Note that replies will appear on each refiner page.
    Refining is a horrible business. Managers buy and sell commodities having no control of prices at either end. To make matters worse, US refiners have historically bought oil from a global cartel that controlled product flow and fixed prices. They then sold fuel commodities into a highly competitive market, where competitors often overproduced and drove prices down to unprofitable levels. There were periods when margins (crack spreads) were exceptional, but these were driven by specific events and were generally unsustainable. It is no wonder that analysts have been less than generous with multiples and buy recommendations. Tightening crack spreads and uncertainty about future government actions -- including border adjustment taxes, renewable fuel requirements and RINs -- further hampers today’s valuations.
    I own shares of the four refiners noted above – I don’t think I’m crazy. Dividends are great and appear fully sustainable. Stock prices, for reasons noted above, are cheap. All four of these refiners are major players with ocean access. They are all dropping assets into MLPs and all trying to diversify by varying degrees.
    As an investor, I think that fracking and the growth of US oil production are the main reasons to be optimistic. These four refiners will have access to US produced oil through a growing network of pipelines, as well as access to foreign oil imports. The latter may be a significant advantage for two reasons: 1) I think foreign oil producers will no longer be able to fully control global production – there will be more competition and discounts; and 2) I think the proposed import tax (border adjustment tax) will never pass Congress.
    In the long term, low oil prices will slow the growth of alternative fuels and electric vehicles. The current administration should curb the growth of bio-fuel requirements by year-end. I don’t know if the RIN program will be modified – VLO, of the four names, would likely benefit the most if that happens.
    It is very possible that, in the next decade, electric vehicles use will grow in the US, while gasoline usage continues to grow worldwide. If this turns out to be true, export capabilities will play a big role in the future success of US refiners, especially if technology allows the US to be a low cost producer of oil.
    Well, that’s my unsolicited two cents on refiners. I welcome comments, questions, criticism etc.
  • D
    Dennis
    Dennis
    $VLO conversation
    $VLO, $TSO, $MPC, $PSX --- These are excerpts from a 6/12 Morgan Stanley note.
    “Refining stocks performed well last week despite cracks rolling over and disappointing DOE numbers. We stay cautious on refining margins as utilization and inventories remain heightened.”
    “MS Base Crack Indicator fell 7% last week while U.S. refining stocks rose 5.7%. Regional crack spreads fell 6-9% across the board while U.S refiners outperformed Broader Energy by 3.7%. We believe this is due to a combination of investors using refining for relative safety from other energy subsectors and idiosyncratic driven performance. Overall Energy potentially saw some benefit from the reported “FANG” trade breakdown in the Tech sector.”
  • D
    DennisK
    DennisK
    When is the declaration date for dividends? 10-15% increase possible?
  • Y
    Yahoo Finance Insights
    Yahoo Finance Insights
    MPC reached a new 52 Week High at 55.14