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).
The board of directors of Marathon Petroleum Corp. (MPC) has declared a quarterly dividend of $0.58 per share on common stock. This dividend will be payable on March 10, 2022, to shareholders who are on record by the close of business on February 16, 2022. Marathon Petroleum is a leading downstream energy company, operating the largest refining system in the U.S. and managing a comprehensive marketing network.
Marathon Petroleum Corp. (NYSE: MPC) has announced a conference call scheduled for February 2, 2022, at 11 a.m. EST, to discuss its 2021 fourth-quarter and full-year financial results. Interested listeners can access the call via the company’s website, where a replay will be available for two weeks afterward. Financial information, including the earnings release and investor materials, will also be posted online before the call. MPC is a major integrated downstream energy company and operates the largest refining system in the U.S.
Marathon Petroleum Corp. (MPC) and ADM have finalized their joint venture, Green Bison Soy Processing, LLC, to produce soybean oil aimed at meeting the rising demand for renewable diesel fuel. With a 75% stake held by ADM and 25% by MPC, this $350 million facility in Spiritwood, North Dakota is set to process local soybeans, generating around 600 million pounds of refined soybean oil annually. The output will be dedicated to MPC for approximately 75 million gallons of renewable diesel per year.
Marathon Petroleum Corp. (MPC) reported a third-quarter net income of $694 million, or $1.09 per diluted share, a significant turnaround from a net loss of $886 million in the same quarter last year. Adjusted net income for Q3 2021 was $464 million, up from a loss of $649 million in Q3 2020. The company is progressing with portfolio optimization, pursuing strategic alternatives for the Kenai refinery. Additionally, MPC completed 25% of its $10 billion capital return program and announced a 2.5% increase in quarterly distributions from its MPLX segment.
Marathon Petroleum Corp. (NYSE: MPC) has declared a quarterly dividend of $0.58 per share on common stock. This dividend will be payable on December 10, 2021, to shareholders of record by the close of business on November 17, 2021. Marathon Petroleum, based in Findlay, Ohio, boasts the largest refining system in the nation and operates a comprehensive marketing system that includes branded retail outlets across the United States. The company also has significant interests in MPLX LP, a midstream services provider.
Marathon Petroleum Corp. (NYSE: MPC) will host a conference call on November 2, 2021, at 11 a.m. EDT to discuss its third-quarter financial results for 2021. Interested investors can access the call via the company's website, where a replay will be available for two weeks. Additional financial information, including the earnings release, will also be posted online beforehand. Marathon Petroleum is a major downstream energy company based in Findlay, Ohio, operating the largest refining system in the U.S. and owning a significant interest in MPLX LP.
Marathon Petroleum Corp. (MPC) and ADM have formed a joint venture to produce soybean oil aimed at meeting the rising demand for renewable diesel fuel. ADM will hold a 75% stake in the venture, which will operate a soybean processing facility in Spiritwood, North Dakota. Expected to be operational by 2023, the facility will process local soybeans into refined soybean oil, producing around 600 million pounds annually, sufficient for approximately 75 million gallons of renewable diesel. The complex represents a $350 million investment and will create about 75 permanent jobs.
MPLX LP (NYSE: MPLX) announced the retirement of Pamela K.M. Beall, CFO, later this year after over 25 years with Marathon Petroleum (NYSE: MPC). John J. Quaid will succeed her on Sept. 1, 2021. Beall's tenure included pivotal roles in establishing MPC and MPLX as public entities and achieving excess cash flow goals. Quaid, with experience in various financial roles at MPC and United States Steel Corp., aims to drive continued growth and value creation.
Marathon Petroleum Corp. reported a substantial second-quarter 2021 net income of $8.5 billion ($13.00 per diluted share), a significant increase from $9 million ($0.01 per diluted share) in Q2 2020. Adjusted income was $437 million ($0.67 per diluted share), up from an adjusted net loss of $868 million in the same period last year. The company closed the $21 billion Speedway sale and committed $10 billion for share repurchases. Ongoing renewable projects are progressing, with a focus on sustainability. The firm achieved $2.2 billion in adjusted EBITDA, a significant increase from $653 million in Q2 2020.
FAQ
What is the current stock price of Marathon Pete (MPC)?
What is the market cap of Marathon Pete (MPC)?
