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Marathon Petroleum Corporation (MPC)

NYSE - NYSE Delayed Price. Currency in USD
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89.54-1.91 (-2.09%)
At close: 04:00PM EDT
89.54 0.00 (0.00%)
After hours: 07:59PM EDT

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  • D
    Dennis
    $VLO conversation
    Markets are behaving as if an impending recession will result in very few people driving ICE vehicles for the near future. I doubt that this will prove true, given rising employment and increasing office attendance. I also don’t believe that the Fed will drive the US economy into a hard recession – they’ve already accomplished much of their goal with talk.
    I will also note that, based on a WTI price of $78.74, a gasoline price of $2.40 per gallon and a diesel fuel price of $3.24 per gallon, a refiners crack spread (3-2-1) is still $33.82 per barrel.
    #MPC #PSX
  • D
    David
    MPC and BITCOIN on the rise.
  • F
    Fritz1967
    $VLO conversation
    One positive of refiner stock prices being down and undervalued to what they are worth (extremely undervalued in my opinion) ..... the refining companies are buying back shares with some of all that excess cash they are generating and us shareholders are getting a better value of the stock they buy back at these lower prices and perhaps they are buying back more shares since the shares don't cost as much!

    #mpc, #psx, #dino, #dk
  • F
    Fritz1967
    * HF Sinclair Corp : JP Morgan raises target price to $59 from $54
    * Marathon Petroleum Corp : JP Morgan raises target price to $136 from $110
    * Valero Energy Corp : JP Morgan raises target price to $151 from $148
    * PBF Energy Inc : JP Morgan raises to overweight from neutral

    #vlo, #psx, #dino, #pbf
  • D
    DennisK
    Was MPC still buying back stock when it was over 100?
  • F
    Fritz1967
    $VLO conversation
    Looking for input. Does anyone believe the EIA gasoline and distillate fuel supply numbers which they use as a proxy for demand for gasoline and diesel demand in the US which they are saying that over the last 4 week average that gasoline demand in the US is down 8% and distillate demand is down 9% from the same time a year ago? It's hard for me to believe these large numbers. Especially against 2021 when Covid was more of an issue.

    #mpc, #psx, #dino, #dk
  • D
    Dennis
    $VLO conversation
    Interesting -- Oil refiners Valero Energy Corp and Marathon Petroleum Corp are the biggest beneficiaries of the U.S. government's oil reserve releases, taking nearly half the crude offered, #MPC #PSX
    https://www.reuters.com/markets/commodities/valero-marathon-top-beneficiaries-us-emergency-oil-releases-2022-09-21/
  • F
    Fritz1967
    $VLO conversation
    Major BP-Cenovus owned refinery fire in northern Ohio. 160,000 b/day.

    #mpc, #psx, #dino, #dk
  • S
    SAFRIET
    I am staying far away from MPC- It looks like it is going to drop off a cliff. I actually get way better stocks at www.expertinvestor.club
  • D
    Dennis
    $VLO conversation
    Signs of strength in the US economy – like yesterday's ISM report showing unexpected growth in US services – increases fears of future Fed rate hikes, leading to US recession, and thus lowering demand for fuel.
    Signs of weakness in China – trade surplus shrinking as overseas demand flattens and a new wave of Covid-19 restrictions at home disrupted production and logistics -- grows fears of global recession and reduced demand for energy.

    The reduction in both crude oil prices and fuel prices may improve or worsen crack spreads for refiners. I don’t know. Either way, the perceived reduction in energy demand is driving down current energy markets.

    With Europe facing both recession and a possible energy shortage in winter, it's difficult to predict the continent's impact on various energy alternatives … and Russia/ Ukraine war is always a wild card.

    In the US, much of our interest rate and recession fears are data dependent.
    US Initial jobless claims will be reported tomorrow, Sept 8, but key numbers will be next week. CPI data is on Tue 9/13; PPI data is on Wed 9/14. I expect positive news on inflation but I think the 75 basis point increase is still likely at the next FOMC meeting (9/20 – 9/21). It's what the market expects afterwards that counts. Good luck.

    #MPC #PSX
  • D
    DennisK
    How are all those stock buybacks working out?
  • B
    BOB
    Q3 earnings almost baked. Looks like will come in about halfway between Q1 and Q2. That’s half way between great and outstanding. Time for street to increase Expectations for future earnings AND PE.
  • D
    Dennis
    OPEC+ meeting tomorrow; probably to lower crude production, supporting pbl price. Energy sector still strong
  • F
    Fritz1967
    $VLO conversation
    Diesel Profit Margins Soar to 30-Year Seasonal High
    Tuesday, August 23, 2022

    Diesel Profit Margins Soar to 30-Year Seasonal High
    The diesel crack spread, which represents the profit generated by turning a barrel of crude into diesel, approached $70 a barrel on Monday.
    Diesel is fetching the highest premium to crude oil for this time of year in data going back more than 30 years.

    The diesel crack spread, which represents the profit generated by turning a barrel of crude into diesel, approached $70 a barrel on Monday for the first time since June to stand at the highest for this time of year in records going back to 1986. The so-called crack spread was below $20 a barrel the same time last year. Demand is set to grow this winter with the US northeast likely burning more diesel for heating amid soaring natural gas prices.

    The strength reflects growing concerns over the security of the nation’s fuel supply heading into peak demand season with national inventories at their lowest level since 2000 for this time of year. US fuelmakers haven’t been able to build up domestic stockpiles with Russian import bans reshuffling global trade patterns.

    In New York Harbor, diesel tanks have seasonally never been emptier. Supplies could shrink further in the coming months as Gulf Coast refiners shut units for maintenance.

    #mpc, #psx, #dino
  • T
    The Abominable Snow Clown
    This'll go higher.