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Slammed by weakened fuel demand during the pandemic, shares of U.S. oil refiners are skyrocketing after Pfizer announced it had developed a COVID-19 vaccine that was more than 90% effective.[[VLO]] +31.4%, [[MPC]] +16.9%, [[PSX]] +23.8%, [[PBF]] +33.1%, [[CVI]] +31.5%, [[HFC]] +28.2%.Fuel dem...
Shares of leading refining companies Marathon Petroleum (NYSE: MPC) , Phillips 66 (NYSE: PSX) , and Valero (NYSE: VLO) rallied more than 10% by 10:15 a.m. EST on Monday. Fueling this rally was news that a vaccine candidate by pharmaceutical ...
Phillips 66 posted a break-even Q3 with a loss of a penny a share. Midstream, chemicals, and M&S propped up the refining segment, which remains in a state of depression. While the results show the benefits of management strategy to diversify away from refining, the company sti...
The sale of the Speedway Division should generate about $16.5 billion in cash. Investors get the remaining business for about $3 billion in market value. Both the retail gasoline business and MPLX midstream businesses have held up well during the period of coronavirus demand destr...
Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Election editionNearly 99M early votes have been cast in person or by mail as of Monday night, about 72.3% of the entire turnout in 2016 and representing a...
MPC lost $649 million in the third quarter of 2020. Its refining margins have been squeezed. Its only hope is that petroleum demand recovers. But for now, there is no basis for such a recovery until the pandemic is resolved. Futures crack spreads illustrate the bleak outlo...
With a market cap of $20.4 billion, Marathon Petroleum has dealt with and recovered from record-low product demand due to coronavirus shutdowns. The company’s dividend yield is now 7.4%. While its 3Q20 net loss was -$1.0 billion, this included a net -$525 million for inventory ...
Image source: The Motley Fool. Marathon Petroleum (NYSE: MPC) Q3 2020 Earnings Call Nov 02, 2020 , 9:30 a.m. ET Operator Continue reading For further details see: Marathon Petroleum (MPC) Q3 2020 Earnings Call Transcript
Marathon Petroleum Corporation (MPC) Q3 2020 Earnings Conference Call November 02, 2020, 09:30 AM ET Company Participants Kristina Kazarian - VP, IR Mike Hennigan - CEO Don Templin - CFO Brian Partee - SVP, Marketing Ray Brooks - SVP, Refining Rick Hessling - SVP, Crude Oil Supply & Logis...
Marathon Petroleum ([[MPC]] +2.6%) opens higher after reporting a smaller than forecast Q3 loss while revenues fell 36% Y/Y to a below-consensus $17.5B."Despite some recovery, global demand for our products and services remains significantly below historical levels, which continues to pressur...
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2024-08-06 15:45:19 ET Image source: The Motley Fool. Marathon Petroleum (NYSE: MPC) Q2 2024 Earnings Call Aug 06, 2024 , 11:00 a.m. ET Operator Continue reading For further details see: Marathon Petroleum (MPC) Q2 2024 Earnings Call Transcript
MPLX LP Reports Second-Quarter 2024 Financial Results PR Newswire FINDLAY, Ohio , Aug. 6, 2024 /PRNewswire/ -- Second -quarter net income attributable to MPLX of $1.2 billion and net cash provided by operating activities of $1.6 billion ...
Marathon Petroleum Corp. Reports Second-Quarter 2024 Results PR Newswire FINDLAY, Ohio , Aug. 6, 2024 /PRNewswire/ -- Second -quarter net income attributable to MPC of $1.5 billion , or $4.33 per diluted share; adjusted net income of $1.4 b...