MPC News and Press, Marathon Petroleum Corporation From 06/23/22

In a letter to the President Thursday, four Democrat Senators urged Biden to utilize "the full range of authorities at your disposal, including those under the National Emergencies Act and the Defense Production Act. This includes your authority to limit oil exports under 42 U.S.S. 6212a." Th...

Marathon Petroleum reported a better-than-expected adjusted income of $1.49 per share for the first quarter. Marathon Petroleum declared a global R&M margin of $15.31 per Bbl. I recommend buying MPC below $87 with potential lower support at $74.8. For further details see...

U.S. oil refiners will try to convince the Biden administration not to ban exports of domestic fuel to combat record-high gasoline prices during tomorrow's scheduled meeting with Secretary of Energy Jennifer Grandholm, Reuters reported on Wednesday. Refining executives reportedly will seek to...

Two drones flying from the direction of Ukraine caused an explosion at Russia's Novoshakhtinsk oil refinery Wednesday, according to sources cited by Reuters. The refinery has capacity to process 7.5mtpa, or ~150kb/d. European gasoil (diesel) margins closed in London at $55.30/b, ~$1 below all...

In 2020 Exxon (XOM) CEO Darren Woods was excoriated by investors, industry and policy makers alike. As shares dipped towards $30, investors clamored for capital spending cuts. Peers like BP (BP) and Shell (SHEL) announced oil demand would terminally decline. And US policy makers determined th...

US refining margins continue to march higher, as the ongoing supply crisis is compounded by talks of stimulating demand and cutting exports:  Weekly reports from the Department of Energy have shown gasoline demand has struggled to surpass 2021 levels in the US; however, cutting the feder...

MPLX is one of the most talked-about energy infrastructure companies which I am not invested in and its recent decline pushing the yield to 9.98% has caught my attention. MPLX has grown its distribution annually over the previous 9 consecutive years and it has outpaced inflation for m...

Multiples and earnings estimates are falling, but a recession is yet to be fully priced, Morgan Stanley says. The S&P 500 (SP500) (NYSEARCA:SPY) would have to fall to 3,000, about 18% from current levels to fully reflect a recession, strategist Mike Wilson wrote in a note Tuesday. "The Be...

Marathon Petroleum Corporation ( NYSE:MPC ) shed 19.43% last week to close at $87. This comes after the bear market is confirmed. While bear market fears are indeed real, this analysis considers Marathon Petroleum a strong buy. Marathon Petroleum Corporation operates in the oil ...

Investors should own stable stocks as they grapple with tighter monetary policy and slowing growth, Goldman Sachs strategist David Kostin says. "Firms with low share price volatility and stable earnings growth should outperform in the uncertain macro environment," Kostin and team wrote in a n...