Marathon Pete Corp Stock Price, News & Analysis

Marathon Petroleum Corp. (MPC) reported a first-quarter net loss of $242 million, or $(0.37) per diluted share, an improvement from a $9.2 billion loss in Q1 2020. Adjusted EBITDA was $1.6 billion, driven by refining margin recovery and a stable midstream business. The company is nearing completion of its $21 billion Speedway sale to 7-Eleven and has committed to converting the Martinez refinery into a major renewable diesel facility. Despite ongoing pandemic challenges, the refining segment generated positive adjusted EBITDA for the first time since the onset of COVID-19.

Marathon Petroleum Corp. (NYSE: MPC) has announced a quarterly dividend of $0.58 per share, payable on June 10, 2021, to shareholders on record as of May 19, 2021. This dividend declaration reflects the company's ongoing commitment to returning value to its shareholders. Marathon Petroleum operates the largest refining system in the U.S. and has a diverse marketing system, including branded retail outlets and convenience stores nationwide.

Southwest Airlines (NYSE: LUV) announced collaborations with Marathon Petroleum (NYSE: MPC) and Phillips 66 (NYSE: PSX) to develop sustainable aviation fuel (SAF). The partnerships aim to promote SAF policies, enhance commercialization, and raise public awareness of SAF benefits. Southwest plans to integrate SAF into its California operations, potentially sourcing from MPC's Martinez Renewable Fuels facility and Phillips 66's Rodeo Renewed facility. These facilities are projected to produce at least 300 million gallons of SAF by 2025, addressing carbon reduction goals while meeting a substantial portion of Southwest's jet fuel demand.

Marathon Petroleum Corp. (MPC) will hold a conference call on May 4, 2021, at 11 a.m. EDT to discuss its 2021 first-quarter financial results, which will be released that morning. The call will also provide updates on company operations. Interested listeners can access the conference call through the MPC website, where a replay will be available for two weeks. Prior financial information and earnings materials will be posted online ahead of the call.

MPLX LP (NYSE: MPLX), a master limited partnership sponsored by Marathon Petroleum Corp. (NYSE: MPC), will host a conference call on May 4, 2021, at 9:30 a.m. EDT to discuss its 2021 first-quarter financial results and provide updates on company operations. The financial results will be released earlier that day. Interested participants can access the call via MPLX's website, where a replay will also be available for two weeks. MPLX operates an extensive network of midstream energy infrastructure, including pipelines and terminal facilities.

Marathon Petroleum Corp (MPC) reported a fourth-quarter 2020 income of $192 million, or $0.29 per diluted share, including net pre-tax benefits of $851 million. An adjusted loss of $608 million, or ($0.94) per diluted share, was reported compared to a profit of $1 billion the previous year. The company plans to close its $21 billion sale of Speedway by Q1 2021, aiming to strengthen its balance sheet and return capital to shareholders. Capital expenditures for 2021 are projected at $1.4 billion, down $350 million from 2020, focusing on renewables and cost reductions.

Marathon Petroleum Corporation (NYSE: MPC) announced the appointment of Brian C. Davis as Executive Vice President and Chief Commercial Officer. In this significant role, Davis will oversee all commercial activities within MPC's integrated value chain, reporting directly to Michael J. Hennigan, President and CEO. With over 32 years of experience at Royal Dutch Shell, Davis brings substantial expertise in driving transformation and growth in the oil and gas sector, particularly in renewable and alternative energy strategies.

Marathon Petroleum Corp. (MPC) will hold its annual meeting of shareholders on April 28, 2021, at 10 a.m. EDT, via a virtual format accessible through this link. Shareholders of record as of March 2, 2021, can vote during the meeting. The company will provide additional details in its proxy statement on accessing the virtual meeting. Marathon Petroleum, headquartered in Findlay, Ohio, operates the largest refining system in the U.S. and has various energy and retail operations.

Marathon Petroleum Corp. (MPC) has declared a quarterly dividend of $0.58 per share on its common stock, set for payment on March 10, 2021. Shareholders on record by the close of business on February 17, 2021 will receive this dividend. Marathon Petroleum is a major player in the energy sector, operating the largest refining system in the U.S. and owning a significant retail presence through its Marathon brand and Speedway LLC.