Welcome to our dedicated page for Marathon Pete news (Ticker: MPC), a resource for investors and traders seeking the latest updates and insights on Marathon Pete stock.
Marathon Petroleum Corporation (MPC) generates frequent news as an integrated downstream and midstream energy company with large-scale refining, marketing, and midstream operations. Headquartered in Findlay, Ohio, MPC reports that it operates the nation’s largest refining system and maintains a marketing network that includes Marathon brand retail outlets across the United States. The company’s ownership of the general partner and majority limited partner interest in MPLX LP adds another layer of news related to midstream infrastructure and logistics.
News coverage for MPC commonly includes quarterly and full-year financial results, where the company discusses net income, adjusted net income, adjusted EBITDA, segment performance, refining margins, throughput, and operating costs. These releases often highlight the performance of the Refining & Marketing, Midstream, and Renewable Diesel segments, as well as capital returned to shareholders through dividends and share repurchases.
Investors following MPC news will also see announcements about dividend decisions, such as increases to the quarterly dividend, and updates on distributions from MPLX to Marathon Petroleum. Leadership and governance developments, including changes in the chairman of the board or the appointment of a new executive vice president and chief financial officer, are disclosed through press releases and related SEC filings.
Another key category of MPC news involves strategic and operational updates. These may describe capital spending plans at specific refineries, midstream growth projects pursued through MPLX, and the status of pipelines, gas processing plants, fractionation facilities, and export infrastructure connected to MPC’s refining and marketing activities. For a consolidated view of these developments, this news page brings together company-issued releases and market updates related to Marathon Petroleum Corporation (MPC).
Marathon Petroleum Corp. (MPC) reported a robust fourth-quarter 2022 net income of $3.3 billion or $7.09 per diluted share, significantly up from $774 million in Q4 2021. The company's full-year net income reached $14.5 billion, compared to $9.7 billion in 2021, driven by improved operational execution. For 2023, MPC forecasts a $1.3 billion capital spending plan, focusing on low-carbon initiatives. The company returned $13.2 billion to shareholders in 2022 through buybacks and dividends, announcing a new $5 billion share repurchase authorization.
Marathon Petroleum Corp. (NYSE: MPC) has appointed Toni Townes-Whitley to its board of directors, effective March 1, 2023. Townes-Whitley brings over 35 years of experience, most notably as president of U.S. Regulated Industries at Microsoft Corporation, where she managed a $16 billion portfolio. Her expertise includes driving digital transformation and building high-performance teams. The board now consists of 12 members. Townes-Whitley's appointment aims to enhance the company’s leadership and strategic vision as it seeks sustainable value in the energy sector.
Marathon Petroleum Corp. (MPC) announced its 2023 annual meeting of shareholders will occur on April 26, 2023, at 10 a.m. ET, in a virtual format via live webcast. Shareholders on record as of March 1, 2023, are eligible to vote and receive notice. The company will provide additional details in its proxy statement regarding participation. Headquartered in Findlay, Ohio, MPC operates the largest refining system in the U.S. and oversees a vast marketing network, including branded retail outlets. The meeting aims to inform shareholders about the company's operations and future plans.
Marathon Petroleum Corp. (NYSE: MPC) has declared a $0.75 per share dividend on common stock, payable on March 10, 2023. Shareholders of record as of February 16, 2023 will receive this payment. The company is recognized as a leading integrated downstream energy firm, operating the largest refining system in the U.S. with a wide network of Marathon brand retail locations. It also maintains a majority interest in MPLX LP, a midstream energy company.
Marathon Petroleum hosted a groundbreaking event for 40 high school girls at its El Paso refinery, aimed at promoting careers in STEM. Participants engaged with female engineers and scientists, took part in hands-on activities, and learned about various job roles in the industry. The event, the first of its kind at the refinery, aimed to inspire young women in fields where they are underrepresented. One attendee received a $1,000 scholarship for college. Given the positive feedback, plans are underway for a similar event in 2023.
Marathon Petroleum Corp. (MPC) and MPLX have announced grants totaling $175,000 to support commercial driver's license (CDL) programs at two North Dakota tribal colleges. Nueta Hidatsa Sahnish College receives $100,000, while United Tribes Technical College gets $75,000. These initiatives aim to address the growing demand for skilled transport drivers in the region, facilitating students' direct entry into the workforce post-licensure. Additionally, MPC and MPLX experts will assist with curriculum development for the programs, enhancing educational opportunities in high-demand careers.
On January 4, 2023, Marathon Petroleum Corp. (NYSE: MPC) announced receipt of an unsolicited mini-tender offer from TRC Capital Investment Corp. to purchase 1,500,000 shares at $105.00 each. This price is 4.33% lower than MPC's closing price on December 16, 2022. MPC disassociates itself from the offer and advises shareholders against participating, citing that the offer price does not reflect the market value. The SEC warns that mini-tender offers may lack investor protections and urges due diligence from shareholders.
Marathon Petroleum Corp. (MPC) will hold a conference call on January 31, 2023, at 11 a.m. EST to discuss its 2022 fourth-quarter and full-year financial results. Interested listeners can access the call via the company's website. A replay will also be available for two weeks. MPC, based in Findlay, Ohio, is a prominent downstream energy company and operates the largest refining system in the U.S. Comprehensive financial details and materials will be provided prior to the call on its site.
Marathon Petroleum Corp. (NYSE: MPC) reported a strong Q3 2022, achieving a net income of $4.5 billion, or $9.06 per diluted share, a significant increase from $694 million a year prior. Adjusted EBITDA surged to $6.8 billion, driven by robust refining operations running near full capacity. The company completed a $15 billion share buyback and announced a 30% dividend increase to $0.75 per share. Refining margins improved to $30.21 per barrel, with throughput of 3.0 million barrels per day, reflecting strong market demand.
Marathon Petroleum Corp. (NYSE: MPC) announced a 30% increase in its quarterly dividend, raising it from $0.58 to $0.75 per share. The new dividend is scheduled for payment on December 12, 2022, to shareholders recorded by the close of business on November 16, 2022. This boost reflects the company's commitment to returning value to shareholders amid strong performance metrics.
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