|Bid||22.83 x 1400|
|Ask||23.00 x 1400|
|Day's Range||21.07 - 23.53|
|52 Week Range||15.26 - 69.65|
|Beta (5Y Monthly)||2.08|
|PE Ratio (TTM)||5.82|
|Earnings Date||May 04, 2020|
|Forward Dividend & Yield||2.32 (11.57%)|
|Ex-Dividend Date||Feb 17, 2020|
|1y Target Est||55.50|
All four locally based stocks that trade regularly on an exchange posted gains by the end of the trading session Monday.
Since last week, a bevy of other companies and universities have announced plans to assist Miami Valley hospitals.
A prominent local CEO is among 18 business leaders statewide that have been tapped for an advisory board to help Ohio Gov. Mike DeWine's administration work through the economic fallout caused by the COVID-19 pandemic.
MPLX LP (NYSE: MPLX) a master limited partnership sponsored by Marathon Petroleum Corp. (NYSE: MPC), has rescheduled its 2020 first-quarter earnings conference call to Tuesday, May 5, at 11 a.m. EDT. During the conference call, company executives will discuss 2020 first-quarter financial results, which will be released earlier that day, and provide an update on company operations.
Marathon Petroleum Corp. (NYSE: MPC) has rescheduled its 2020 first-quarter earnings conference call to Tuesday, May 5, at 9:30 a.m. EDT. During the conference call, company executives will discuss 2020 first-quarter financial results, which will be released earlier that day, and provide an update on company operations.
Due to the evolving impact of the coronavirus outbreak (COVID-19), and to support the health and well-being of the company's shareholders, employees and community, the Board of Directors of Marathon Petroleum Corp. (NYSE: MPC) has determined to change the format of the company's 2020 annual meeting of shareholders scheduled for Wednesday, April 29, 2020, at 10 a.m. EDT from in-person to virtual-only.
Marathon Petroleum Corporation (NYSE: MPC) has earned the U.S. Environmental Protection Agency's (EPA's) 2020 ENERGY STAR Partner of the Year – Sustained Excellence Award, the highest honor among ENERGY STAR awards. MPC is the only fuels manufacturing company to earn the award, which recognizes the company for sustained, top-tier energy efficiency and excellent environmental compliance.
All four Dayton stocks that trade regularly on an exchange fared worse than the broad market by mid-afternoon Wednesday.
John M. Fox, beneficial owner of 1,427,826 common units of MPLX LP and 62,583 shares of Marathon Petroleum Company, today released the following open letter to the board of directors of Marathon Petroleum Corporation (MPC) and MPLX LP (MPLX) outlining his support of management. Mr. Fox believes that recent decisions to appoint Michael Hennigan as CEO of MPC, maintain the current structure and direction of MPLX, and to downsize capex in line with current industry conditions are keys to generating long-term MPC and MPLX value for shareholders, and that the board of directors is working diligently to ensure all of the above are delivered.
U.S. refiners sold renewable fuel credits last week in a bid to raise cash as their market capitalizations slumped amid the oil price crash, according to three industry sources. Refiners are under strain as the coronavirus pandemic has sapped global demand for gasoline and jet fuel, making it unprofitable to produce those products. Refiners buy renewable fuels credits as part of the nation's biofuels laws, which require them to either blend biofuels like ethanol into the nation's gasoline supply, or to buy credits to fund those who can.
Markets rebounded aggressively Tuesday on hopes that Congress would finalize an estimated $2 trillion stimulus plan to stabilize the U.S. economy amid the novel coronavirus (COVID-19) pandemic.
Unfortunately for some shareholders, the Marathon Petroleum (NYSE:MPC) share price has dived 72% in the last thirty...
A 5.7-magnitude earthquake rocked Utah on Wednesday, knocking out the Western state's coronavirus hotline, cutting off service to Salt Lake City's airport and forcing the evacuation of a refinery, officials said. Governor Gary Herbert said the state's poison control center at the University of Utah in the capital Salt Lake City was evacuated while officials assessed the damage, and he said the coronavirus hotline was down. The quake struck at 7:09 a.m. MDT (1309 GMT) some 3.7 miles (6 km) north-northeast of Magna, Utah, at a depth of 7.3 miles (11.7 km) the U.S. Geological Survey reported, and was followed by a series of smaller aftershocks.
(Bloomberg Opinion) -- With oil crashing below $25 Wednesday morning, the U.S. exploration and production sector is in critical condition already. Beyond the frackers and the majors, though, the double dose of coronavirus and OPEC disintegration is also tearing at the sinews that power it.Oilfield services contractors were still dreaming wistfully of getting back to their pre-2014 health when 2020 rolled around. Halliburton Co., for example, will have to find a new nickname: “Big Red” now has a market cap of about $5.5 billion, down from roughly $50 billion two years ago. Another sector is in danger of vanishing altogether: master limited partnerships.Technically, MLPs aren’t actually a sector; just a particular financing structure that tends to be used for pipelines and other vital logistical bits of the energy business. Regular readers (hey, a man can dream) know I have one or two quibbles with the MLP structure, mainly due to its weak governance resulting in overleveraged companies with insiders and regular investors often at cross purposes — and evaporating unit prices. As investors have given up, particularly on the institutional side, many midstream companies have abandoned the structure altogether, becoming regular C-corps in order to tap a wider pool of money more comfortable with traditional governance and financial metrics.Last September, I totted up the market cap and free float of a sample of 83 North American midstream firms (many of these companies, apart from the C-corps, have a significant sponsor shareholder). Just six months ago, it was striking that the entire sector had a collective market cap of only $575 billion, of which just $484 billion of was actually traded.Golden memories, it turns out. Since then, a few companies have been acquired, so we’re down to 80. Their collective market cap as of Tuesday’s close: $327 billion. To give a sense of how small that is, it is only slightly bigger than the combined market cap of just three large oil producers, Exxon Mobil Corp., Chevron Corp. and ConocoPhillips — and that’s after their recent, massive sell-offs. The free float of the midstream group is a mere $271 billion. Moreover, C-corps dominate that, accounting for three quarters. You do the math on what that leaves for MLPs.As firms have converted to more-liquid C-corps and the entire sector has dropped, the number of barely-there companies has risen. Six months ago, roughly half the group had an average free float of less than $600 million, already too small for any but the most dedicated money managers to bother with. Today, 58 of the group, or almost three quarters, have an average float of about $400 million.There is a vicious cycle at work here, one which predated the latest crisis but has been amped-up by it. As liquidity in a lot of the sector dries up, so institutional investors are deterred even further, making it worse. At the same time, as bigger companies have converted to C-corps and been withdrawn from MLP indices, so the latter are rebalanced among the remainder — generally smaller companies with weaker performance, making the sector as a whole even less attractive.It has been apparent for a while that the larger remaining MLPs, such as Enterprise Product Partners LP, should convert to C-corps and access a bigger pool of potential investors as their old pool shrinks. For various reasons, usually related to insiders’ control and the tax hit on their low-basis positions in the partnership, some have held out. Yet the collapse in valuations confronts both rationales with a simple question: How much do you really have to lose at this point?Implacable as that is, change is hard. Just on Wednesday morning, Marathon Petroleum Corp. said it had concluded a strategic review of 63%-owned MPLX LP and decided to retain the MLP structure partly on the grounds it “will remain an important, through-cycle source of cash” for the parent. Against that, MPLX currently sports a distribution yield of 29% and has consistently yielded north of 10% since late September, way before coronavirus showed up and OPEC+ imploded.The abrupt shift in oil supply and demand exposes the overbuilding that resulted from midstream’s earlier excesses. That doesn’t mean all assets are suddenly worthless. But the sheer uncertainty about the shape (and scale) of the U.S. energy business that will emerge from this crisis means midstream’s fight for capital, which it was losing already, has become even more desperate. It simply cannot afford to remain chained to a structure whose heyday was more than five years ago and is now evaporating in front of our eyes.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Marathon Petroleum Corp. (NYSE: MPC) today announced that Michael J. Hennigan has been appointed president and chief executive officer, effective immediately, and will join the company's Board of Directors following the company's 2020 annual meeting of shareholders on April 29, 2020.
Marathon Petroleum Corporation (NYSE: MPC) today announced the unanimous decision of its Board of Directors to maintain MPC's current midstream structure, with the company remaining the general partner of MPLX LP (NYSE: MPLX).
The energy sector is comprised of companies focused on the exploration, production, and marketing of oil, gas, and renewable resources around the world. Popular energy sector stocks include upstream companies that are primarily engaged in the exploration of oil or gas reserves. Well-known companies in the sector are Hess Corp. (HES) and Diamondback Energy Inc. (FANG).
Investors need to pay close attention to Marathon Petroleum (MPC) stock based on the movements in the options market lately.
MPLX's strong and stable operations are likely to back the partnership to persistently grow its distributable cash flow in the coming quarters.