MPC Oct 2019 53.000 call

OPR - OPR Delayed Price. Currency in USD
7.47
0.00 (0.00%)
As of 12:36PM EDT. Market open.
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Previous Close7.47
Open7.47
Bid0.00
Ask0.00
Strike53.00
Expire Date2019-10-25
Day's Range7.46 - 7.60
Contract RangeN/A
Volume30
Open InterestN/A
  • Bloomberg

    Marathon Petroleum Considers Selling Two Refineries

    (Bloomberg) -- Marathon Petroleum Corp., the U.S. oil refiner under pressure from activist investor Elliott Management Corp. to break itself up, is weighing the sale of two plants in Alaska and Utah, according to people familiar with the matter.The Findlay, Ohio-based company is in active discussions with possible buyers for its 68,000-barrel-per-day Kenai oil refinery near Anchorage and its 58,500-barrel-per-day Salt Lake City refinery, the largest in the Utah, said the people, who asked to not be identified as the discussions are private.A Marathon representative declined to comment on the refineries. The company said last week in a statement it’s carrying out a “comprehensive strategic review.”The Kenai plant is among “several logical non-core” assets flagged for sale by Elliott in a presentation published last month. The investor is also demanding the breakup of Marathon into three segments -- refining, midstream and retail -- which it says would unlock more than $22 billion in value.It’s unclear how much the two plants might fetch in a sale. In May, Chevron Corp. bought the Pasadena refinery, which has a 110,000-barrel-per-day capacity, for $350 million.Hedge fund D.E. Shaw & Co. has also been pushing the refiner to explore ways to unlock value. Marathon investors Paul Foster and Jeff Stevens have called for the ouster of Chief Executive Officer Gary Heminger. Marathon met with all three activists last week to discuss Heminger’s future and the company’s strategy.Marathon is due to report its third-quarter earnings and hold a conference call with analysts and investors on Oct. 31.Shares of the company were 1.1% higher at $65.36 at 11:20 a.m. in New York. (Updates with share price in last paragraph)\--With assistance from David Wethe.To contact the reporters on this story: Catherine Ngai in New York at cngai16@bloomberg.net;Kiel Porter in Chicago at kporter17@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Rigzone.com

    Marathon Petroleum Weighs Sale of Two Refineries

    Marathon Petroleum is weighing the sale of two plants in Alaska and Utah.

  • Marathon Petroleum (MPC) Stock Sinks As Market Gains: What You Should Know
    Zacks

    Marathon Petroleum (MPC) Stock Sinks As Market Gains: What You Should Know

    Marathon Petroleum (MPC) closed at $64.67 in the latest trading session, marking a -0.72% move from the prior day.

  • Things You Should Know About the EIA Crude Inventory Report
    Zacks

    Things You Should Know About the EIA Crude Inventory Report

    The federal government's EIA report revealed that crude inventories rose by 9.3 million barrels, compared to the 4 million barrels increase that energy analysts had expected.

  • Marathon Petroleum Board, Investors Are Said to Discuss CEO
    Bloomberg

    Marathon Petroleum Board, Investors Are Said to Discuss CEO

    (Bloomberg) -- Marathon Petroleum Corp. board members are meeting this week with activist investors to discuss Chief Executive Officer Gary Heminger’s future and the company’s strategy amid calls to split up its businesses, according to people familiar with the matter.After investors Paul Foster and Jeff Stevens met with several board members on Wednesday, representatives for Elliott Management Corp. and D.E. Shaw & Co. plan to meet with directors Thursday, according to the people, who asked not to be identified because the meeting wasn’t public. Foster and Stevens together control about 1.7% of the second-biggest U.S. refiner.Marathon is aiming to make a decision on the CEO and its strategy going forward by the time of the company’s third-quarter earnings call on Oct. 31, the people said. The activists view Executive Vice Chairman Greg Goff, who joined Marathon after its purchase of Andeavor, as a well-respected potential replacement for Heminger, according to the people. Representatives for Elliott, D.E. Shaw, Foster and Stevens declined to comment.“Marathon has delivered substantial shareholder value under the leadership of Chairman and CEO Gary Heminger, who has the full support of the board,” Marathon said in a statement. “As we have said publicly, the company is conducting a comprehensive strategic review, and has been collecting feedback from many shareholders as is our practice. The review is ongoing and no conclusions have been reached.”Marathon shares rose 2.3% to $64.10 in New York after earlier climbing as much as 4.3%.Last month Elliott, which recently took a 2.5% stake in Marathon, renewed its push for Marathon to split into three separate companies in order to unlock more than $22 billion in value. Foster and Stevens released a letter days later demanding Heminger’s ouster. D.E. Shaw, which owned a 0.9% stake as of the end of June, has also been pushing Marathon to find ways to unlock more value, according to people familiar with the matter.In their meeting this week, Stevens and Foster told board members that they’re hearing significant support among shareholders for Heminger to step down and agreement with Elliott’s plan to break up the company, according to one of the people. But board members responded that shareholders have told Marathon’s investor relations team that they don’t object to Heminger staying on as CEO, the person said.Heminger -- who was given an exemption from the company’s age-65 mandatory retirement rule in July 2018 -- took charge of the Findlay, Ohio-based company when Marathon Oil Corp. spun off the business in 2011 and has been fighting activist shareholders ever since. While the Ohio native has previously assuaged investors including Jana Partners LLC and overseen a five-fold rise in dividend payouts, the company has faltered more recently as it sought to expand through acquisitions, including the purchase of rival Andeavor.Heminger appeared with Goff in a video posted to YouTube two weeks ago, with the CEO saying he welcomes feedback from shareholders.“Aligning two organizations of this size is complex and challenging, but we’ve been steadily improving our operations,” Heminger, sitting in a wood-paneled room, said on the video. “We agree that our share value does not fully reflect the underlying value of our assets.”\--With assistance from Kiel Porter and Rachel Adams-Heard.To contact the reporters on this story: Scott Deveau in New York at sdeveau2@bloomberg.net;David Wethe in Houston at dwethe@bloomberg.net;Catherine Ngai in New York at cngai16@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Rigzone.com

    Marathon Petroleum Board, Investors in Talks About CEO

    Marathon Petroleum Corp. board members are meeting this week with activist investors to discuss CEO Gary Heminger's future and the company's strategy amid calls to split up its businesses.

  • Barrons.com

    Dividend Stocks Have Been Shooting Out the Lights. Don’t Count on It Lasting for Long.

    Evercore ISI’s Dennis DeBusschere names five high-yielding stocks that also have strong fundamentals.

  • Marathon Petroleum (MPC) Dips More Than Broader Markets: What You Should Know
    Zacks

    Marathon Petroleum (MPC) Dips More Than Broader Markets: What You Should Know

    In the latest trading session, Marathon Petroleum (MPC) closed at $63.14, marking a -0.44% move from the previous day.

  • GuruFocus.com

    Marathon Petroleum and Prudential Have Dividend Appeal

    With impeachment and trade war in the air, the stock market probably won’t roar ahead in the next 12 months Continue reading...

  • Refiners before Q3 Earnings: MPC, VLO, PSX, HFC
    Market Realist

    Refiners before Q3 Earnings: MPC, VLO, PSX, HFC

    Refiners have had a mixed October so far. Marathon Petroleum (MPC), Valero Energy (VLO), and Phillips 66 (PSX) are up, but HollyFrontier (HFC) has slumped.

  • The Zacks Analyst Blog Highlights: ExxonMobil, ConocoPhillips, Valero, Marathon and Dril-Quip
    Zacks

    The Zacks Analyst Blog Highlights: ExxonMobil, ConocoPhillips, Valero, Marathon and Dril-Quip

    The Zacks Analyst Blog Highlights: ExxonMobil, ConocoPhillips, Valero, Marathon and Dril-Quip

  • Do Hedge Funds Love Marathon Petroleum Corporation (MPC)?
    Insider Monkey

    Do Hedge Funds Love Marathon Petroleum Corporation (MPC)?

    Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the second quarter. You can find write-ups about an individual hedge fund's trades on numerous financial […]

  • Is Marathon Petroleum (MPC) a Good Pick for Value Investors?
    Zacks

    Is Marathon Petroleum (MPC) a Good Pick for Value Investors?

    Let's see if Marathon Petroleum (MPC) stock is a good choice for value-oriented investors right now from multiple angles.

  • Crude Prices Hold Steady After Mixed EIA Inventory Data
    Zacks

    Crude Prices Hold Steady After Mixed EIA Inventory Data

    The federal government's EIA report revealed that crude inventories rose by 2.9 million barrels, compared to the 2.4 million barrels increase that energy analysts had expected.

  • Benzinga

    Najarian Brothers See Unusual Options Activity In Marathon Petroleum, Gold And Sea Limited

    On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in Marathon Petroleum Corp (NYSE: MPC). Pete Najarian owns calls and shares in Marathon Petroleum. Close to 6,000 contracts of the March $149 calls in SPDR Gold Trust (NYSE: GLD) were traded in the first half of the session on Tuesday, said Pete Najarian.

  • Marathon Petroleum (MPC) Stock Moves -0.96%: What You Should Know
    Zacks

    Marathon Petroleum (MPC) Stock Moves -0.96%: What You Should Know

    Marathon Petroleum (MPC) closed at $59.82 in the latest trading session, marking a -0.96% move from the prior day.

  • Should Marathon Petroleum Corporation (NYSE:MPC) Be Part Of Your Dividend Portfolio?
    Simply Wall St.

    Should Marathon Petroleum Corporation (NYSE:MPC) Be Part Of Your Dividend Portfolio?

    Dividend paying stocks like Marathon Petroleum Corporation (NYSE:MPC) tend to be popular with investors, and for good...

  • The Zacks Analyst Blog Highlights: ExxonMobil, ConocoPhillips, Valero Energy, Phillips 66 and Marathon Petroleum
    Zacks

    The Zacks Analyst Blog Highlights: ExxonMobil, ConocoPhillips, Valero Energy, Phillips 66 and Marathon Petroleum

    The Zacks Analyst Blog Highlights: ExxonMobil, ConocoPhillips, Valero Energy, Phillips 66 and Marathon Petroleum

  • MPC, VLO, PSX, HFC: Will Refiners’ Earnings Fall in Q3?
    Market Realist

    MPC, VLO, PSX, HFC: Will Refiners’ Earnings Fall in Q3?

    Refiners have posted mixed results in the third quarter. Now, refiners are gearing up for their third-quarter earnings season.

  • The Zacks Analyst Blog Highlights: BP, ExxonMobil, Marathon Petroleum, Transocean and Kinder Morgan
    Zacks

    The Zacks Analyst Blog Highlights: BP, ExxonMobil, Marathon Petroleum, Transocean and Kinder Morgan

    The Zacks Analyst Blog Highlights: BP, ExxonMobil, Marathon Petroleum, Transocean and Kinder Morgan

  • Oil & Gas Stock Roundup: BP & ExxonMobil's Multibillion Dollar Deals Steal the Show
    Zacks

    Oil & Gas Stock Roundup: BP & ExxonMobil's Multibillion Dollar Deals Steal the Show

    BP plc (BP) sealed an estimated $9.61 billion worth of gas deal with a South Korean buyer, while ExxonMobil (XOM) signed an agreement to divest its oil and gas business in Norway for $4.5 billion.

  • The Andersons, Inc. and Marathon Petroleum Corp. Combine Ethanol Interests
    PR Newswire

    The Andersons, Inc. and Marathon Petroleum Corp. Combine Ethanol Interests

    MAUMEE, Ohio, Oct. 2, 2019 /PRNewswire/ -- The Andersons, Inc. (ANDE) today announced that it and Marathon Petroleum Corporation (MPC) have merged four ethanol entities with and into the new legal entity The Andersons Marathon Holdings LLC (TAMH).