FINDLAY, Ohio, Jan. 24, 2025 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) announced today that its annual meeting of shareholders will take place April 30, 2025, at 10 a.m. ET in a virtual-only format via live webcast. Shareholders of record as of March 3, 2025, are entitled to notice of and to vote at the annual meeting. The company's proxy statement will include additional information regarding how shareholders may access and participate in the virtual annual meeting.About Marathon Petroleum Corpo ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Marathon Petroleum (MPC) , which belongs to the Zacks Oil and Gas - Refining and Marketing industry.This refiner has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 64.15%.For the most recent quarter, Marathon Petroleum was expected to post earnings of $0 ...

Marathon Petroleum (MPC) closed the latest trading day at $140.53, indicating a -1.55% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.55%. On the other hand, the Dow registered a loss of 0.06%, and the technology-centric Nasdaq increased by 1.24%.Market participants will be closely following the financial results of Marathon Petroleum in its upcoming release. The company plans to announce its earnings on February 4, 2025. On that day, Marathon Petroleum is projected ...

LIMASSOL, Cyprus, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping company, announces that on December 12, 2024, it entered, through a wholly owned subsidiary, into an Share Purchase Agreement (“SPA”) with MPC Münchmeyer Petersen & Co. GmbH (“MPC Holding”) for the acquisition of 26,116,378 shares representing 74.09% of the shares of the Frankfurt-listed investment and asset manager MPC Münchmeyer Petersen Capital AG (Deutsche B ...

Marathon Petroleum (MPC) closed at $151.97 in the latest trading session, marking a +0.6% move from the prior day. The stock lagged the S&P 500's daily gain of 0.82%. On the other hand, the Dow registered a loss of 0.22%, and the technology-centric Nasdaq increased by 1.77%.The refiner's stock has dropped by 2.67% in the past month, falling short of the Oils-Energy sector's loss of 2.1% and the S&P 500's gain of 0.8%.Investors will be eagerly watching for the performance of Marathon Petroleum in its upcomin ...

Income-oriented individual investor focusing on building a solid dividend portfolio within oil and gas, shipping, energy, and minerals. I am investing my own money and do not work on behalf of others or a company, such as an investment firm. My formal qualification is an MSc in Business, where I majored in Finance.Analyst’s Disclosure: I/we have a beneficial long position in the shares of MPZZF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my ow ...

Core Insights - U.S. gasoline inventories have dropped to their lowest levels in two years due to strong demand and tighter fuel supplies, with a reported 6% increase in gasoline demand for the week ending Nov. 8 [1] - The EIA's November 2024 short-term Energy outlook forecasts a moderate increase in crack spreads, indicating higher refining margins driven by shrinking refinery capacity and planned closures of major U.S. refineries [2] - Rising U.S. demand for gasoline and diesel, driven by industrial activity and transportation needs, is expected to outpace reduced refinery output, further elevating crack spreads [3] - Global refinery additions are not sufficient to offset U.S. refinery closures, leading to continued upward pressure on domestic refining margins [4] Company Insights - Phillips 66 operates nine refineries in the U.S. and two in Europe, with a daily crude processing capacity of 1.8 million barrels, focusing on financial stability and maximizing shareholder returns [6] - Marathon Petroleum has 13 refineries with a total refining capacity of 3 million barrels per day, optimizing processing to produce higher-margin products [7] - ExxonMobil operates one of the largest refining businesses globally, with 21 refineries and a distillation capacity of nearly 5 million barrels per day, selling over 5.4 million barrels of petroleum products daily [8][9] Investment Opportunities - Companies like Phillips 66, Marathon Petroleum, and ExxonMobil are expected to benefit from widening crack spreads, translating to greater profitability in refining operations [5]

Independent oil refiner and marketer Marathon Petroleum Corporation (MPC) reported third-quarter adjusted earnings per share of $1.87, which comfortably beat the Zacks Consensus Estimate of 97 cents. The outperformance primarily reflects the stronger-than-expected performance of its Refining & Marketing segment. The operating income of the segment totaled $298 billion, surpassing the consensus mark, calling for a loss of $64 million on the back of strong product sales and throughput.However, the company’s b ...

Financial Performance - Adjusted EBITDA was $2.485 billion[8], demonstrating a commitment to peer-leading Refining & Marketing results while delivering Midstream growth[5] - MPC expects to receive annual distributions of $2.5 billion from MPLX following a 12.5% quarterly distribution increase[5] - $3.0 billion of capital was returned to shareholders[5] - Share repurchases amounted to $2.701 billion[10] Segment Performance - Refining & Marketing segment adjusted EBITDA was $1.053 billion in 3Q 2024[13] - Midstream segment adjusted EBITDA was $1.628 billion in 3Q 2024[16], up nearly 6% over the prior year period[15] - Refining & Marketing margin was $3.949 billion[14] with a total system capture of 96%[14] Capital Allocation and Outlook - A $5 billion share repurchase authorization and a 10% quarterly dividend increase were announced[5] - The company anticipates ~$200 million in corporate expenses for 4Q 2024, including ~$20 million in depreciation and amortization[21] - Approximately 40% of MPC's growth capital is allocated to renewables and carbon-reduction projects[24] Sustainability - The company is targeting a 30% reduction in Scope 1 & 2 GHG intensity by 2030 and a 38% reduction by 2035 from 2014 levels[23]

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...