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 reports news as an integrated downstream and midstream energy company with the nation's largest refining system, a U.S. marketing network that includes Marathon-branded retail outlets, and a majority ownership interest in MPLX LP.
Recurring updates cover Refining & Marketing results, Midstream performance, Renewable Diesel operations, refinery turnarounds and capital projects such as jet fuel and FCC upgrades. Company announcements also address quarterly dividends, share repurchase authorizations, capital returns, annual meeting timing, and MPLX gathering, processing, fractionation, transportation and logistics activity.
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.
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.