Marathon Pete Corp Stock Price, News & Analysis

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.

Marathon Petroleum Corp. (NYSE: MPC) has successfully closed its joint venture with Neste for the Martinez renewables project, meeting all required conditions, including regulatory approvals. The 50/50 joint venture involves a total investment of $1 billion from Neste towards projected project costs of $1.2 billion. MPC will manage the project, targeting an initial production capacity of 260 million gallons per year and potential growth to 730 million gallons by the end of 2023. This partnership aims to enhance low carbon-intensity feedstock availability in California.

Marathon Petroleum Corp. (NYSE: MPC) will host a conference call on November 1, 2022, at 11 a.m. ET to discuss its 2022 third-quarter financial results. Interested parties can access the call via the company's website, where a webcast replay will be available for two weeks. Financial information, including the earnings release and related materials, will be shared online ahead of the call. MPC is a major player in the downstream energy sector, operating the largest refining system in the U.S.

Marathon Petroleum Corp. (NYSE: MPC) reported a net income of $5.9 billion, or $10.95 per diluted share, for Q2 2022, a decrease from $8.5 billion in Q2 2021. Adjusted net income rose to $5.7 billion, compared to $437 million a year earlier. Adjusted EBITDA reached $9.1 billion, up from $2.2 billion in Q2 2021. The refining segment saw significant improvements with adjusted EBITDA of $7.8 billion, driven by stronger margins and throughput, while corporate expenses slightly decreased. The company continues its capital return program, having completed $12 billion of a planned $15 billion buyback.

Marathon Petroleum Corp. (NYSE: MPC) has declared a quarterly dividend of $0.58 per share on common stock, payable on Sept. 12, 2022, to shareholders of record as of Aug. 17, 2022. This announcement reflects the company's ongoing commitment to returning value to its shareholders. Marathon Petroleum is an integrated energy company operating the largest refining system in the U.S., with a strong presence through its branded retail outlets and significant midstream operations.

On July 12, 2022, Marathon Petroleum Corp. (MPC) expressed profound sorrow over the passing of long-serving board member Steve Davis. Chairman John Surma emphasized Davis's vibrant contribution and friendship, noting the significant loss to the organization. Davis had been a board member for nine years, bringing invaluable insights to the company's operations. Marathon Petroleum remains a key player in the energy sector, operating the largest refining system in the U.S. and owning a significant interest in MPLX LP, enhancing its market presence.

Marathon Petroleum Corp. (NYSE: MPC) will hold a conference call on August 2, 2022, at 11 a.m. EDT to discuss its second-quarter financial results for 2022. Interested stakeholders can listen live via MPC's website. A replay will be available for two weeks following the call. Financial documents, including the earnings release, will be accessible before the call. MPC is a major integrated downstream energy company, operating the largest refining system in the U.S. More details can be found at www.marathonpetroleum.com.

Marathon Petroleum Corp. (MPC) reported a net income of $845 million, or $1.49 per diluted share, for Q1 2022, recovering from a net loss of $242 million in Q1 2021. Adjusted EBITDA reached $2.6 billion, with Refining and Marketing contributing $1.4 billion. Operating activities generated $2.5 billion in cash, aided by $0.6 billion in favorable working capital changes. MPC also announced a 15% reduction target for Scope 3 greenhouse gas emissions by 2030. Approximately $8 billion in shares have been repurchased to date, part of a $10 billion return of capital program.