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Marathon Petroleum Corp (MPC)

MPC on New York Consolidated

52.45USD
25 May 2017
Change (% chg)

$-0.68 (-1.28%)
Prev Close
$53.13
Open
$53.15
Day's High
$53.91
Day's Low
$52.43
Volume
3,952,038
Avg. Vol
4,540,498
52-wk High
$54.59
52-wk Low
$32.02

Latest Key Developments (Source: Significant Developments)

Marathon Petroleum Q1 earnings per share $0.06 including items
Thursday, 27 Apr 2017 06:35am EDT 

April 27 (Reuters) - Marathon Petroleum Corp ::Marathon Petroleum Corp reports first-quarter 2017 results.Q1 earnings per share $0.06 including items.Marathon Petroleum Corp says a special committee of board and its independent advisor expect to complete ongoing review of speedway by mid-2017.Marathon Petroleum Corp says refining & marketing segment loss from operations was $70 million in Q1 of 2017, compared with a loss of $86 million in same quarter of 2016.Marathon Petroleum Corp says speedway segment income from operations was $135 million in Q1 of 2017, compared with $167 million in Q1 of 2016..Marathon Petroleum -midstream segment income from operations, which includes MPLX as well as other related operations, was $309 million in Q1 , compared with $189 million.Qtrly total revenues and other income $16.39 billion versus $12.83 billion.Q1 earnings per share view $-0.05, revenue view $15.43 billion -- Thomson Reuters I/B/E/S.  Full Article

EQT Midstream Partners Q1 2017 net income of $143.2 mln
Thursday, 27 Apr 2017 06:30am EDT 

April 27 (Reuters) - EQT Midstream Partners LP ::EQT Midstream Partners Lp - EQM Q1 operating revenue increased $17.6 million, 9% higher compared to same quarter last year.Sees 2017 net income $555 million - $595 million.Sees Q2 net income $124 million - $134 million.EQT Midstream Partners LP - EQM continues to forecast full-year 2017 ongoing maintenance capital expenditures of approximately $35 million.Eqt midstream partners lp - announced q1 2017 net income of $143.2 million.Q1 earnings per share view $1.37, revenue view $202.9 million -- Thomson Reuters I/B/E/S.Q2 earnings per share view $1.33 -- Thomson Reuters I/B/E/S.Fy2017 earnings per share view $5.44 -- Thomson Reuters I/B/E/S.  Full Article

Marathon reports propylene unit shutdown at Texas City refinery
Thursday, 27 Apr 2017 01:01am EDT 

April 27 (Reuters) - Marathon Petroleum Corp ::Marathon petroleum Texas City refinery reports propylene unit shutdown; related to the recently completed scheduled plant wide turnaround.Reports the Propylene unit is not operating properly since starting back up. So, the unit will need to be shut back down and then started back up.  Full Article

Marathon Petroleum sets dividend of $0.36per share
Wednesday, 26 Apr 2017 12:10pm EDT 

April 26 (Reuters) - Marathon Petroleum Corp :Sets dividend of $0.36per share.  Full Article

Fluor selected by Marathon for contract at two Texas refineries
Monday, 10 Apr 2017 04:09pm EDT 

Fluor Corp : Fluor selected by Marathon for contract at two Texas refineries . Fluor Corp - Fluor will book undisclosed contract value into backlog in Q1 of 2017 .Fluor Corp - selected by Marathon for contract at two Texas refineries.  Full Article

Marathon Petroleum Corp reports Q4 earnings $0.43/shr
Wednesday, 1 Feb 2017 06:52am EST 

Marathon Petroleum Corp : Marathon Petroleum Corporation reports fourth-quarter and full-year 2016 results . Q4 earnings per share $0.43 . Q4 earnings per share view $0.26 -- Thomson Reuters I/B/E/S . Marathon Petroleum Corp - refining & marketing segment income from operations was $219 million in q4 of 2016 compared with $179 million . Q4 total revenue and other income $17,284 million versus. $15,679 million . Q4 revenue view $14.54 billion -- Thomson Reuters I/B/E/S . Marathon Petroleum Corp - MPC's 2017 investment plan, excluding MPLX LP, totals approximately $1.7 billion . Marathon Petroleum Corp - reduced total planned investments in south texas asset repositioning project to $1.5 billion from $2 billion . Marathon Petroleum - $500 million reduction in total planned investments reflects a substantial preservation of project's scope and projected rate of return . Marathon Petroleum Corp says MPC anticipates spending approximately $85 million on star project this year . Marathon Petroleum-special committee of board has been formed, it has selected independent financial advisor to assist in thorough review of speedway . Marathon Petroleum -MPLX announced 2017 capital investment plan, which includes $1.4-$1.7 billion organic growth capital, about $100 million maintenance capital.  Full Article

MARATHON PETROLEUM SETS DIVIDEND OF $0.36 PER SHARE
Friday, 27 Jan 2017 01:09pm EST 

Marathon Petroleum Corp :SETS DIVIDEND OF $0.36 PER SHARE.  Full Article

Praxair signs hydrogen supply agreement with Marathon Petroleum
Monday, 23 Jan 2017 08:30am EST 

Praxair Inc : Praxair signs long-term U.S. Gulf Coast hydrogen supply agreement with Marathon Petroleum Corporation . Company will use hydrogen to support an ultra-low-sulfur diesel project planned for 2018 . Has signed a long-term contract to supply hydrogen to marathon petroleum corporation's refinery in Garyville, Louisiana .Hydrogen will be supplied through Praxair's Southeast Louisiana Pipeline Network.  Full Article

Marathon Petroleum comments on Elliott Management statements
Monday, 21 Nov 2016 11:33am EST 

Marathon Petroleum Corp : Marathon Petroleum comments on Elliott Management statements . "We agree with Elliott Management that there is upside to our valuation" . Disagree with Elliott's letter and presentation . "As discussed with Elliott, there are tax and other impediments to an immediate dropdown of all assets to MPLX" ."Confident our plan will deliver substantial shareholder value and we are moving ahead expeditiously on each of these actions".  Full Article

Elliott Management sends a letter to board of Marathon making recommendations
Monday, 21 Nov 2016 08:30am EST 

Marathon Petroleum Corp : Elliott Management Corporation - sent a letter to board of marathon making recommendations that would "unlock $14 - $19 billion for shareholders" . Elliott Management Corporation - manages funds that collectively beneficially own 4 pct of common stock and equivalents of marathon petroleum corporation . Elliott Management Corporation - "believe marathon is severely undervalued" . Elliott Management in letter to Marathon Petroleum - recommended "drop down" of all mlp-qualifying assets to mplx immediately .Elliott Management in letter to marathon petroleum - recommended conducting a full strategic review to reassess marathon's current structure.  Full Article

More From Around the Web

Marathon Petroleum posts surprise profit as refining margins rise

Refiner Marathon Petroleum Corp reported a surprise quarterly profit on Thursday as refining margins jumped 18 percent despite challenging market conditions.