MPC - Marathon Petroleum Corporation
| Previous Close | 53.19 |
| Open | 53.37 |
| Bid | 52.00 x 800 |
| Ask | 53.48 x 800 |
| Day's Range | 52.98 - 54.19 |
| 52 Week Range | 43.96 - 88.45 |
| Volume | 6,780,605 |
| Avg. Volume | 6,118,512 |
| Market Cap | 35.082B |
| Beta (3Y Monthly) | 1.66 |
| PE Ratio (TTM) | 11.99 |
| EPS (TTM) | 4.45 |
| Earnings Date | Oct 30, 2019 - Nov 4, 2019 |
| Forward Dividend & Yield | 2.12 (3.99%) |
| Ex-Dividend Date | 2019-08-20 |
| 1y Target Est | 76.72 |
- Zacks
Marathon Petroleum (MPC) Gains As Market Dips: What You Should Know
In the latest trading session, Marathon Petroleum (MPC) closed at $53.29, marking a +0.19% move from the previous day.
- Zacks
U.S. Biofuels Policy: Oil & Corn Industries Fight It Out
Farm groups and ethanol organizations are angered by the sharp increase in exemptions provided by the Andrew Wheeler-led Environmental Protection Agency to the oil refiners.
- Bloomberg
White House Plans Biofuel Quota Boost to Offset Refinery Waivers
(Bloomberg) -- President Donald Trump has tentatively agreed to a plan for bolstering ethanol and biodiesel, amid pressure from Midwest U.S. senators who warned that without action he risks votes in next year’s election.The blueprint discussed in a Wednesday meeting at the White House calls for the administration to begin offsetting Environmental Protection Agency exemptions waiving some oil refineries from annual blending requirements starting in 2020. That comes on top of other concessions that administration officials had already developed with the aim of encouraging greater U.S. demand for ethanol made from corn.The draft plan was described by people familiar with the matter who asked for anonymity because the deliberations are private. The deal could still unravel, as oil companies and allied senators seek to influence the final outcome and administration officials work to translate broad commitments into formal regulations.Green Plains Inc., a U.S. ethanol producer, tempered its losses after Bloomberg reported the White House deliberations. The shares fell as much as 4.9%, to $10.36, before recovering to $10.79 as of 2:48 p.m. in New York. Renewable Energy Group Inc., one of the largest U.S. biodiesel producers, erased earlier losses, gaining 3.5% to $15.87. Pacific Ethanol Inc. also tempered an earlier decline, rising to 74.31 cents a share.Reallocating QuotasIf the deal becomes final, the EPA would begin calculating waivers into future quotas starting with the 2020 targets. The determinations would be driven by a three-year rolling average of exemptions, so the 2020 targets would reflect waivers issued in 2016, 2017 and 2018. That could raise legal hurdles for the EPA, which would be tasked with swiftly implementing it.There is a narrow window for the Trump administration to codify a package of changes. The EPA is legally required to finalize 2020 biofuel-blending targets by Nov. 30, and any new, supplementary proposal must first be submitted for public comment.The plan was hashed out on Thursday by Trump, a representative of Archer-Daniels Midland Co. and senators from corn-growing and ethanol-producing states in a meeting at the White House. Senators in the room included Chuck Grassley and Joni Ernst of Iowa, John Thune and Mike Rounds of South Dakota and Ben Sasse and Deb Fischer of Nebraska.Iowa Governor Kim Reynolds was also present.Plans DevelopedFor weeks, the Trump administration has been trying to develop a plan for quelling a backlash in the Midwest U.S. over the oil refinery waivers, amid concerns it could hurt Trump’s re-election chances in Iowa and other politically important farm states.The approach risks alienating oil refining supporters, including a group of senators that are asking Trump not to boost biofuel quotas or offset refinery waivers. The move would have the effect of putting non-exempted refineries on the hook for fulfilling waived quotas, driving “more imports of foreign biodiesel, steeper trade deficits, higher compliance costs for domestic refiners and fewer jobs in our states,” they told Trump in a letter.Executives from Valero Energy Corp. and Marathon Petroleum Corp. met with Trump earlier in the week as negotiations intensified. Republican senators, including Ted Cruz of Texas and Pat Toomey of Pennsylvania, have been seeking to press their case against the biofuel plan personally with Trump.Refinery workers and owners also have made appeals, with more than 60 refinery managers telling the president in a letter Thursday that they were “deeply concerned” the contemplated changes would hurt their industry, without benefiting American farmers.Just the prospect of a biofuel boost has driven up prices of the tradable credits refiners use to prove they have satisfied federal mandates. Renewable Identification Numbers tracking 2019 ethanol consumption quotas jumped 17% to 21 cents apiece on Friday from 18 cents on Thursday, the highest since July 29, according to broker data compiled by Bloomberg. RINs tracking 2019 biodiesel targets climbed 6.3% to 51 cents each, the highest since Feb. 28.(Updates with details on deal, RINs movement from second paragraph.)To contact the reporters on this story: Jennifer Jacobs in Washington at jjacobs68@bloomberg.net;Mario Parker in Chicago at mparker22@bloomberg.net;Jennifer A. Dlouhy in Washington at jdlouhy1@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Moody's
Marathon Petroleum Corporation -- Moody's announces completion of a periodic review of ratings of Marathon Petroleum Corporation
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Marathon Petroleum Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
- Market Realist
Big Biofuels Issue: Trump Meets with Refiners, Senators
In a bid to find a solution to the biofuels issue, President Trump met with the CEOs of several refiners as well as senators from the major farming states.
- Reuters
UPDATE 2-Trump meets with senators from key farm states, touts biofuel deal progress
U.S. President Donald Trump said the administration has made progress on a biofuel reform package after he met with U.S. senators from key farm states on Thursday as part of an ongoing effort to boost ethanol demand and help hard-hit corn farmers. Trump met with a group of corn-state Republican lawmakers that included Iowa senators Joni Ernst and Chuck Grassley on Thursday afternoon, four sources familiar with the matter said. Iowa Governor Kim Reynolds also attended the meeting, two of the sources said.
- Bloomberg
Trump Meets With Oil Refining Executives Amid Talks on Biofuel
(Bloomberg) -- President Donald Trump met Wednesday with the heads of two of the nation’s largest refiners as he seeks a deal that would boost corn-based ethanol and soy-based biodiesel without alienating oil companies required to use the products.Trump met with Marathon Petroleum Corp. chief executive Gary Heminger; Valero Energy Corp. chief executive Joe Gorder; and Harold Hamm, the founder of Continental Resources Inc., according to people familiar with the matter who asked not to be named describing private discussions. Although Hamm’s Continental is an oil producer without direct involvement in U.S. biofuel mandates, the president has long tapped the billionaire oilman’s energy expertise.White House officials are set to meet Thursday with senators from corn- and ethanol-producing states, amid deep anger in the Midwest U.S. over the Environmental Protection Agency’s decision waive some oil refineries from annual blending quotas.Administration officials have spent weeks trying to develop a suite of pro-ethanol and pro-biodiesel policy changes that would temper the angst in Iowa and other politically important Midwest U.S. states. But they’re trying to do it without prompting a backlash in the Rust Belt, even as oil industry workers and labor unions demonstrated their opposition with a rally in Toledo, Ohio, on Thursday.Ethanol manufacturers and Iowa politicians have been cool to a drafted White House plan that would give a 5% boost to biofuel-blending requirements in 2020 and are asking the administration to do more to formally account for refinery exemptions as part of the quotas. In a separate meeting Wednesday, White House officials told biofuel producers to swiftly offer alternatives to that plan, warning that they are running out of time to make changes to proposed 2020 quotas.Refining representatives, who also met with National Economic Council staff on Wednesday, are pressing the administration to find ways to constrain the cost of tradable credits known renewable identification numbers, which are used to prove they have fulfilled biofuel-blending requirements. Although refinery exemptions have driven down the cost of those compliance credits, any move to boost future quotas threatens to propel their prices again.Some refiners are advancing a plan that would allow the EPA to sell its own compliance credits whenever those RINs prices get too high. The EPA-generated credits would not be tied to actual biofuel production or blending but revenue from their sale could be steered to building out fueling infrastructure to get more ethanol to consumers.Marathon Petroleum spokesman Jamal T. Kheiry confirmed Wednesday’s meeting, saying the company “always appreciates the opportunity to share our thoughts with elected officials on policies that can impact our business and consumers who rely on our products.”Asked about Hamm’s involvement, Kristin Thomas, a senior vice president with Continental Resources, said: “Mr. Hamm is supportive of the president and his positive impact on American energy.”Representatives for Valero did not immediately respond to requests for comment.(Updates with more details on White House meetings from third paragraph.)\--With assistance from Josh Wingrove.To contact the reporters on this story: Jennifer A. Dlouhy in Washington at jdlouhy1@bloomberg.net;Mario Parker in Chicago at mparker22@bloomberg.net;Jennifer Jacobs in Washington at jjacobs68@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, Elizabeth WassermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
Refining CEOs met with Trump, seeking concessions on U.S. biofuels policy -sources
Valero Energy CEO Joe Gorder and Marathon Petroleum CEO Gary Heminger were at the White House on Wednesday, the sources said, amid ongoing wrangling by the administration to try to find ways to satisfy warring agricultural and oil interests over biofuels. The White House is expected to meet with U.S. Senators from key farm states later on Thursday and senators representing oil-producing states on Friday, the sources said. The White House was not immediately available for comment.
- Kiplinger
25 Dividend Stocks That Analysts Love the Most
The longest bull market in history keeps charging. Stocks are near record highs, which sounds good, but it does create a problem for income investors. Specifically, where can they find dividend stocks poised for outperformance that still sport decent yields?The idea, after all, is to buy stocks when they're low, then sell high. And they don't seem too low when they're only a couple of percentage points below record levels. Stocks' lofty prices have crushed their yields, too. The trailing 12-month dividend yield on the S&P; 500 stands at a paltry 1.9%.High-quality dividend stocks with better-than-average yields do exist, however. We're here to help you find them.We scoured the S&P; 500 for dividend stocks with yields of at least 3%. From that pool, we focused on stocks with an average broker recommendation of Buy or better. S&P; Global Market Intelligence surveys analysts' stock ratings and scores them on a five-point scale, where 1.0 equals Strong Buy and 5.0 means Strong Sell. Any score of 2.0 or lower means that analysts, on average, rate the stock a Buy. The closer the score gets to 1.0, the stronger the Buy call.Lastly, we dug into research and analysts' estimates on the top-scoring names. That led us to these 25 great blue-chip dividend stocks that have the highest analyst ratings. SEE ALSO: The Berkshire Hathaway Portfolio: All 47 Buffett Stocks Explained
- Bloomberg
White House to Meet With Oil, Biofuel Makers in Bid for Deal
(Bloomberg) -- Trump administration officials are set to consult with oil refiners and renewable fuel producers at the White House on Wednesday, as they struggle to develop a final plan for bolstering corn-based ethanol and soy-based biodiesel.Representatives of Valero Energy Corp., PBF Energy Inc., Monroe Energy, HollyFrontier Corp., Marathon Petroleum Corp. and Phillips 66 are set to attend a meeting Wednesday afternoon, as the oil refiners warn the administration against plans to dramatically hike biofuel-blending quotas.A separate meeting with biofuel producers is set to include executives from Louis Dreyfus Co., Renewable Biofuels Inc., Ag Processing Inc. and Renewable Energy Group Inc., said people familiar with the matter, who asked not to be named discussing private negotiations. A representative of Archer-Daniels Midland Co., one of the nation’s largest ethanol manufacturers, also said the company would be at the biofuel meeting.The discussions are not expected to include industry trade associations nor influential lawmakers who have pressed President Donald Trump for biofuel policy changes since he took office. By meeting directly with company lobbyists and executives from the dueling industries, administration officials may be better able to confirm their policy demands and reach discrete agreements.Administration officials have been seeking to finalize a broad plan for boosting U.S. biofuel-blending mandates and taking other steps to propel renewable fuels made from corn and soybeans -- without major disruptions for oil refining companies. On Aug. 29, Trump promised he would soon unveil a “giant package” of biofuel changes that would make farmers “so happy.”The effort responds to a backlash in the American Midwest over the Environmental Protection Agency’s decisions to exempt oil refineries from annual requirements to use biofuel. Although federal law authorizes those waivers for small refineries facing an economic hardship from the mandates, renewable fuel supporters say the Trump administration has handed them out too freely -- dealing a blow to agricultural interests already suffering amid the trade fight with China and a tough growing season.After weeks of talks, administration officials have agreed they will not seek to rescind a batch of recently granted waivers exempting oil refineries from 2018 biofuel-blending mandates.However, they tentatively decided to begin accounting for them in 2021 blending quotas -- a move would effectively force non-exempted refineries to satisfy targets expected to be waived for other facilities. Administration officials also are considering giving a 5% boost to U.S. renewable fuel-blending quotas in 2020.Biofuel advocates -- including trade associations, ethanol producers and Midwest lawmakers -- have been cool to the plan, saying the reallocation of waived quotas should happen at least a year earlier, in 2020. That has complicated the White House’s efforts to reach a deal.The issue underscores a clash between two key Trump constituencies -- agriculture and oil -- heading into the 2020 election. Oil industry advocates and labor unions have been appealing to the White House not to alter course, arguing the hardship waivers are essential to keeping small refineries running.Refinery workers and labor groups are set to hold a rally over the issue in the battleground state of Ohio on Thursday, emphasizing that Trump’s decisions on biofuel could cost him votes in the Rust Belt -- not just the heartland.(Updates with details on meetings and strategy from second paragraph)To contact the reporters on this story: Mario Parker in Chicago at mparker22@bloomberg.net;Jennifer A. Dlouhy in Washington at jdlouhy1@bloomberg.net;Jennifer Jacobs in Washington at jjacobs68@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Market Realist
Citigroup Raises Price Targets on Refiners MPC, PSX
Citigroup raised its price targets on two refiners today, increasing Marathon Petroleum's target from $58 to $60 and Phillips 66's target from $110 to $120.
- Motley Fool
Why Marathon Petroleum Stock Fell Nearly 13% in August
The refining sector continues to experience its share of challenges.
- Market Realist
Institutional Holdings in MPC, VLO, PSX, and HFC
Institutional holdings in Valero Energy, Marathon Petroleum, Phillips 66, and HollyFrontier stand above 70%. HollyFrontier has the highest holding of 89%.
- GuruFocus.com
Bernard Horn's Top 5 Buys of the 2nd Quarter
Polaris Global Value Fund starts position in Japanese beverage manufacturer Continue reading...
- Thomson Reuters StreetEvents
Edited Transcript of MPC earnings conference call or presentation 1-Aug-19 1:30pm GMT
Q2 2019 Marathon Petroleum Corp Earnings Call
- Benzinga
'Fast Money ' Traders Share Their Thoughts On AIG, Marathon Petroleum
Stephanie Link said on CNBC's "Fast Money Halftime Report" that American International Group Inc (NYSE: AIG) had a good quarter, but the stock is trading lower because of the macro environment. Jim Lebenthal would be comfortable to add to a long position in Marathon Petroleum Corp (NYSE: MPC). The company is also buying back shares and Lebenthal thinks Marathon Petroleum is a great stock to buy both on fundamentals and valuation.
- Zacks
Oil & Gas Stock Roundup: BP Out of Alaska, Equinor Speeds Up Oil Field Start Up
BP plc (BP) farmed out of Alaska, selling its entire business to Hilcorp Energy for $5.6 billion, while Equinor (EQNR) indicated an earlier-than-expected start up of the giant Johan Sverdrup field.
- Moody's
LOOP LLC -- Moody's affirms LOOP's senior unsecured rating at A3
Rating Action: Moody's affirms LOOP's senior unsecured rating at A3. Global Credit Research- 29 Aug 2019. New York, August 29, 2019-- Moody's Investors Service affirmed LOOP LLC's A3 senior unsecured rating ...
- Simply Wall St.
Are Marathon Petroleum Corporation’s (NYSE:MPC) Returns On Investment Worth Your While?
Today we are going to look at Marathon Petroleum Corporation (NYSE:MPC) to see whether it might be an attractive...
- Zacks
Marathon Petroleum (MPC) Down 11.1% Since Last Earnings Report: Can It Rebound?
Marathon Petroleum (MPC) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- Zacks
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, ConocoPhillips, Valero Energy and Marathon Petroleum
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, ConocoPhillips, Valero Energy and Marathon Petroleum
- Schaeffer's Investment Research
Stay Away from These Stocks in September
One oil stock, in particular, tends to have a rough month
- Moody's
Louisiana Offshore Terminal Authority -- Moody's affirms LOOP's senior unsecured rating at A3
Rating Action: Moody's affirms LOOP's senior unsecured rating at A3. Global Credit Research- 29 Aug 2019. New York, August 29, 2019-- Moody's Investors Service affirmed LOOP LLC's A3 senior unsecured rating ...
- Moody's
LOCAP LLC -- Moody's affirms LOCAP's P-2 short-term rating
Moody's Investors Service (Moody's) affirmed LOCAP, LLC's (LOCAP) P-2 rating on its commercial paper program. LOCAP has no long-term ratings. LOCAP's P-2 commercial paper rating reflects its rights under a Throughput and Deficiency Agreement (T&D Agreement) that lends credit support to the commercial paper (CP) it issues.
- Zacks
Oil Rises After EIA Reports Bullish Surprise on All Fronts
The decline in oil inventories was the largest in the U.S.in five weeks, and came in tandem with a fall in gasoline and distillate supplies.
