Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
wykres:
http://finance.yahoo.com/echarts?s=mpc+Interactive
https://stockcharts.com/h-sc/ui?s=mpc
Marathon Petroleum Corporation NYSE: MPC - wydobycie i przesył ropy naftowej
Marathon Petroleum Corp. (MPC) is a US independent petroleum product refiner, marketer, and transporter.
With a corporate history dating back to the late 1800s and now employing more than 60,000 people, Marathon Petroleum is the largest petroleum refinery operator in the United States. They have refining capacity in excess of 3 million barrels per day.
In 2011, Marathon Oil NYSE: MRO completed the corporate spin-off of Marathon Petroleum, distributing a 100% interest to its shareholders
The company owns and operates 16 refineries in the in the Gulf Coast, Mid-Continent and West Coast regions of the US.
They’re the general partner and majority limited partner unitholder in two midstream companies, MPLX LP (MPLX) and Andeavor Logistics LP (ANDX) (30.07.2019 MPLX Completes Acquisition of Andeavor Logistics). This gives them a strong midstream footprint in the Marcellus, Permian, and Bakken fields.
http://en.wikipedia.org/wiki/Marathon_Petroleum
http://www.marathonpetroleum.com/
wątek o spółce
http://www.thelion.com/bin/aio_msg.cgi? ... pc&x=0&y=0
http://www.hotstockmarket.com/t/278531/ ... oleum-corp
dywidendy
https://finviz.com/quote.ashx?t=MPC
https://seekingalpha.com/symbol/MPC/dividends/scorecard
http://ir.marathonpetroleum.com/Dividen ... 1073753471
TAGI nafta, naftowy, paliwa
Ostatnio zmieniony 02 lut 2021 16:14 przez slayer74, łącznie zmieniany 13 razy.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
REKLAMA
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
Marathon Petroleum Corporation Increases Dividend by 15%
https://www.dividend.com/news/2019/02/0 ... 5-percent/
https://www.dividend.com/news/2019/02/0 ... 5-percent/
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
Undervalued Dividend Growth Stock of the Week
Marathon Petroleum Corp. (MPC) is a US independent petroleum product refiner, marketer, and transporter.
With a corporate history dating back to the late 1800s and now employing more than 60,000 people, Marathon Petroleum is the largest petroleum refinery operator in the United States. They have refining capacity in excess of 3 million barrels per day.
The company owns and operates 16 refineries in the in the Gulf Coast, Mid-Continent and West Coast regions of the US.
They’re the general partner and majority limited partner unitholder in two midstream companies, MPLX LP (MPLX) and Andeavor Logistics LP (ANDX) (30.07.2019 MPLX Completes Acquisition of Andeavor Logistics). This gives them a strong midstream footprint in the Marcellus, Permian, and Bakken fields.
They also lay claim to the nation’s second-largest company-owned and -operated convenience store chain, primarily under the Speedway brand.
They report operations across three segments: Midstream, 44% of FY 2018 operating income; Refining, 40%; and Retail, 16%.
https://dailytradealert.com/2019/09/29/ ... -week-229/
Marathon Petroleum Corp. (MPC) is a US independent petroleum product refiner, marketer, and transporter.
With a corporate history dating back to the late 1800s and now employing more than 60,000 people, Marathon Petroleum is the largest petroleum refinery operator in the United States. They have refining capacity in excess of 3 million barrels per day.
The company owns and operates 16 refineries in the in the Gulf Coast, Mid-Continent and West Coast regions of the US.
They’re the general partner and majority limited partner unitholder in two midstream companies, MPLX LP (MPLX) and Andeavor Logistics LP (ANDX) (30.07.2019 MPLX Completes Acquisition of Andeavor Logistics). This gives them a strong midstream footprint in the Marcellus, Permian, and Bakken fields.
They also lay claim to the nation’s second-largest company-owned and -operated convenience store chain, primarily under the Speedway brand.
They report operations across three segments: Midstream, 44% of FY 2018 operating income; Refining, 40%; and Retail, 16%.
https://dailytradealert.com/2019/09/29/ ... -week-229/
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
Undervalued Dividend Growth Stock of the Week
Marathon Petroleum Corp. (MPC) is a US independent petroleum product refiner, marketer, and transporter.
With a corporate history dating back to the late 1800s and now employing more than 60,000 people, Marathon Petroleum is the largest petroleum refinery operator in the United States. They have refining capacity in excess of 3 million barrels per day.
The company owns and operates 16 refineries in the in the Gulf Coast, Mid-Continent and West Coast regions of the US.
They’re the general partner and majority limited partner unitholder in two midstream companies, MPLX LP (MPLX) and Andeavor Logistics LP (ANDX) (30.07.2019 MPLX Completes Acquisition of Andeavor Logistics). This gives them a strong midstream footprint in the Marcellus, Permian, and Bakken fields.
They also lay claim to the nation’s second-largest company-owned and -operated convenience store chain, primarily under the Speedway brand.
They report operations across three segments: Midstream, 44% of FY 2018 operating income; Refining, 40%; and Retail, 16%.
https://dailytradealert.com/2019/09/29/ ... -week-229/
https://dailytradealert.com/2020/03/15/ ... -week-247/
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
Marathon Petroleum (NYSE:MPC) stock soared 9.4% after agreeing to sell its gas stations to the Japanese owners of the 7-Eleven convenience store chain for $21 billion in the largest U.S. energy deal of the year.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
EPS / Forecast
-0.94 / -1.27
Revenue / Forecast
18.19B / 17.28B
-0.94 / -1.27
Revenue / Forecast
18.19B / 17.28B
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
Marathon Petroleum vs. Valero Energy: Which Oil & Gas Stock is a Better Buy?
Marathon Petroleum Corporation (MPC - Get Rating) in Finlay, Ohio, engages primarily in refining, marketing, retailing, and transporting petroleum products in the United States. It operates in two segments: Refining & Marketing; and Midstream. In comparison, San Antonio, Tex.-based Valero Energy Corporation (VLO - Get Rating) manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining; Renewable Diesel; and Ethanol.
On October 26, Brent futures rose to $86.40 per barrel, while U.S. West Texas Intermediate (WTI) crude settled at $84.65, marking their highest closes since October 2014. Analysts expect oil price strength to continue through year’s end because the global supply crunch shows no signs of subsiding. Furthermore, OPEC+ has also rejected calls to raise its output faster. Analysts expect oil prices to cross the $90 per barrel mark soon. “A jump to $90 oil seems likely,” noted Edward Moya, a senior market analyst at OANDA. Given the multi-year-high oil prices, both MPC and VLO should generate substantial returns.
But while MPC’s shares have gained 28.7% in price over the past six months, VLO has gained 17.8%. In terms of their past year’s performance, MPC is the winner with 128.2% gains versus VLO’s 97%. Also, MPC’s 64.9% gains year-to-date compare with VLO’s 46.2% returns.
But which stock is a better buy now? Let’s find out.
Latest Developments
In August, MPC and Archer-Daniels-Midland Company (ADM) announced a joint venture to produce soybean oil to supply the rapidly growing demand for renewable diesel fuel. The companies also plan to explore other opportunities for agricultural use of renewable transportation fuels. The move demonstrates MPC’s commitment to its sustainability targets. The collaboration “creates a platform for further collaboration with a world-class partner as we continue to invest in a sustainable, energy-diverse future,” noted Dave Heppner, MPC’s senior vice president of Strategy and Business Development.
Also in August, VLO announced that it would redeem the entire outstanding principal amount of its floating rate senior notes due 2023. The aggregate principal amount of the Notes outstanding is $575 million. The redemption is aligned with its plan to reduce its debt.
Recent Financial Results
5 STOCKS READY TO BREAKOUT!
For the second quarter, ended June 30, MPC’s total revenues increased 142.5% year-over-year to $29.83 billion. Its income from continuing operations grew 67.8% from its year-ago value to $965 million. Its net income attributable to MPC improved 94,477.8% from the same period last year to $8.51 billion, while its net income per share improved 129,900% year-over-year to $13.00.
VLO’s revenues increased 86.7% year-over-year to $29.52 billion in its fiscal third quarter ended September 30. Its operating income stood at $693 million, up 211.6% from the same period last year. And its net income attributable to VLO’s stockholders grew 199.8% from its year-ago loss to $463 million. The company’s EPS increased 199.1% year-over-year to $1.13.
Past and Expected Financial Performance
MPC’s revenues have grown at a 2.5% CAGR over the past three years. Analysts expect MPC’s revenue to increase 30.8% in the current quarter, 42.7% in the current year, and 1.2% in the following year. The company’s EPS is expected to grow 126.6% in the current quarter, 136.3% in the current year, and 184% in the next year. And its EPS is expected to grow 43.8% per annum over the next five years.
In comparison, VLO’s revenues have declined at a 6.2% CAGR over the past three years. Analysts expect the company’s revenue to increase 65.4% in the current quarter, 64.9% in the current year, and 7.6% in the next year. The company’s EPS is expected to grow 216% in the current quarter, 134% in the current year, and 452.8% in the following year. However, VLO’s EPS is expected to decline 13.8% per annum over the next five years.
Profitability
MPC is more profitable, with 8.57% and 4.90% respective gross profit and EBITDA margins, compared to VLO’s 3.37% and 2.77%.
Furthermore, MPC’s ROTC and net income margin of 0.86% and 8.72%, respectively, compare with VLO’s 0.27% and negative 0.49%.
Thus, MPC is more profitable here.
Valuation
In terms of forward P/E, VLO is currently trading at 82.34x, which is 93.9% higher than MPC’s 5.02x. Also, VLO’s 11.82 forward EV/EBITDA ratio is 25.6% higher than MPC’s 8.79.
Thus, MPC is relatively affordable here.
POWR Ratings
MPC has an overall B rating, which equates to Buy in our proprietary POWR Ratings system. In comparison, VLO has an overall C rating, which translates to Neutral. The POWR Ratings are calculated considering 118 distinct factors, with each factor weighted to an optimal degree.
MPC has a B grade for Quality. MPC’s 8.72% net income margin is 728% higher than the 1.05% industry average. In comparison, VLO has a C grade for Quality. This is justified because VLO’s negative 0.49% net income margin is lower than the industry average.
Both the stocks have a B grade for Momentum. This is justified because both are trading above their respective 50-day and 200-day moving averages.
Of the 89 stocks in the Energy – Oil & Gas industry, MPC is ranked #17, while VLO is ranked #33.
Beyond what we’ve stated above, we have also rated the stocks for Value, Stability, Growth, and Sentiments. Click here to view MPC ratings. Also, get all VLO ratings here.
The Winner
U.S. shale producers are expected to perform well in the coming months because analysts expect the oil prices to remain elevated. Thus, both MPC and VLO should benefit. However, its higher profitability and lower valuation we think make MPC a better buy here.
Our research shows that odds of success increase when one invests in stocks with an Overall Rating of Strong Buy or Buy. View all the top-rated stocks in the Energy – Oil & Gas industry here.
https://stocknews.com/news/mpc-vlo-mara ... gas-stock/
Marathon Petroleum Corporation (MPC - Get Rating) in Finlay, Ohio, engages primarily in refining, marketing, retailing, and transporting petroleum products in the United States. It operates in two segments: Refining & Marketing; and Midstream. In comparison, San Antonio, Tex.-based Valero Energy Corporation (VLO - Get Rating) manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining; Renewable Diesel; and Ethanol.
On October 26, Brent futures rose to $86.40 per barrel, while U.S. West Texas Intermediate (WTI) crude settled at $84.65, marking their highest closes since October 2014. Analysts expect oil price strength to continue through year’s end because the global supply crunch shows no signs of subsiding. Furthermore, OPEC+ has also rejected calls to raise its output faster. Analysts expect oil prices to cross the $90 per barrel mark soon. “A jump to $90 oil seems likely,” noted Edward Moya, a senior market analyst at OANDA. Given the multi-year-high oil prices, both MPC and VLO should generate substantial returns.
But while MPC’s shares have gained 28.7% in price over the past six months, VLO has gained 17.8%. In terms of their past year’s performance, MPC is the winner with 128.2% gains versus VLO’s 97%. Also, MPC’s 64.9% gains year-to-date compare with VLO’s 46.2% returns.
But which stock is a better buy now? Let’s find out.
Latest Developments
In August, MPC and Archer-Daniels-Midland Company (ADM) announced a joint venture to produce soybean oil to supply the rapidly growing demand for renewable diesel fuel. The companies also plan to explore other opportunities for agricultural use of renewable transportation fuels. The move demonstrates MPC’s commitment to its sustainability targets. The collaboration “creates a platform for further collaboration with a world-class partner as we continue to invest in a sustainable, energy-diverse future,” noted Dave Heppner, MPC’s senior vice president of Strategy and Business Development.
Also in August, VLO announced that it would redeem the entire outstanding principal amount of its floating rate senior notes due 2023. The aggregate principal amount of the Notes outstanding is $575 million. The redemption is aligned with its plan to reduce its debt.
Recent Financial Results
5 STOCKS READY TO BREAKOUT!
For the second quarter, ended June 30, MPC’s total revenues increased 142.5% year-over-year to $29.83 billion. Its income from continuing operations grew 67.8% from its year-ago value to $965 million. Its net income attributable to MPC improved 94,477.8% from the same period last year to $8.51 billion, while its net income per share improved 129,900% year-over-year to $13.00.
VLO’s revenues increased 86.7% year-over-year to $29.52 billion in its fiscal third quarter ended September 30. Its operating income stood at $693 million, up 211.6% from the same period last year. And its net income attributable to VLO’s stockholders grew 199.8% from its year-ago loss to $463 million. The company’s EPS increased 199.1% year-over-year to $1.13.
Past and Expected Financial Performance
MPC’s revenues have grown at a 2.5% CAGR over the past three years. Analysts expect MPC’s revenue to increase 30.8% in the current quarter, 42.7% in the current year, and 1.2% in the following year. The company’s EPS is expected to grow 126.6% in the current quarter, 136.3% in the current year, and 184% in the next year. And its EPS is expected to grow 43.8% per annum over the next five years.
In comparison, VLO’s revenues have declined at a 6.2% CAGR over the past three years. Analysts expect the company’s revenue to increase 65.4% in the current quarter, 64.9% in the current year, and 7.6% in the next year. The company’s EPS is expected to grow 216% in the current quarter, 134% in the current year, and 452.8% in the following year. However, VLO’s EPS is expected to decline 13.8% per annum over the next five years.
Profitability
MPC is more profitable, with 8.57% and 4.90% respective gross profit and EBITDA margins, compared to VLO’s 3.37% and 2.77%.
Furthermore, MPC’s ROTC and net income margin of 0.86% and 8.72%, respectively, compare with VLO’s 0.27% and negative 0.49%.
Thus, MPC is more profitable here.
Valuation
In terms of forward P/E, VLO is currently trading at 82.34x, which is 93.9% higher than MPC’s 5.02x. Also, VLO’s 11.82 forward EV/EBITDA ratio is 25.6% higher than MPC’s 8.79.
Thus, MPC is relatively affordable here.
POWR Ratings
MPC has an overall B rating, which equates to Buy in our proprietary POWR Ratings system. In comparison, VLO has an overall C rating, which translates to Neutral. The POWR Ratings are calculated considering 118 distinct factors, with each factor weighted to an optimal degree.
MPC has a B grade for Quality. MPC’s 8.72% net income margin is 728% higher than the 1.05% industry average. In comparison, VLO has a C grade for Quality. This is justified because VLO’s negative 0.49% net income margin is lower than the industry average.
Both the stocks have a B grade for Momentum. This is justified because both are trading above their respective 50-day and 200-day moving averages.
Of the 89 stocks in the Energy – Oil & Gas industry, MPC is ranked #17, while VLO is ranked #33.
Beyond what we’ve stated above, we have also rated the stocks for Value, Stability, Growth, and Sentiments. Click here to view MPC ratings. Also, get all VLO ratings here.
The Winner
U.S. shale producers are expected to perform well in the coming months because analysts expect the oil prices to remain elevated. Thus, both MPC and VLO should benefit. However, its higher profitability and lower valuation we think make MPC a better buy here.
Our research shows that odds of success increase when one invests in stocks with an Overall Rating of Strong Buy or Buy. View all the top-rated stocks in the Energy – Oil & Gas industry here.
https://stocknews.com/news/mpc-vlo-mara ... gas-stock/
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
Neste to team up with U.S. oil company Marathon to produce renewable fuels
HELSINKI (Reuters) - Finnish refiner Neste said on Tuesday it has formed a joint venture with U.S.-based oil company Marathon Petroleum Corp (NYSE:MPC) to produce renewable fuels in California.
Marathon Petroleum and Neste announced on Tuesday they convert Marathon's Martinez, California refinery into a renewable fuels production facility.
Neste's Chief Executive Peter Vanacker said the California investment and Neste's new facility under construction in Singapore would make the Finnish company the world's first truly global renewables producer with production in Europe, Asia and North America.
HELSINKI (Reuters) - Finnish refiner Neste said on Tuesday it has formed a joint venture with U.S.-based oil company Marathon Petroleum Corp (NYSE:MPC) to produce renewable fuels in California.
Marathon Petroleum and Neste announced on Tuesday they convert Marathon's Martinez, California refinery into a renewable fuels production facility.
Neste's Chief Executive Peter Vanacker said the California investment and Neste's new facility under construction in Singapore would make the Finnish company the world's first truly global renewables producer with production in Europe, Asia and North America.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
Marathon Petroleum (NYSE:MPC) stock rose 3.2% after the refiner reported a jump in quarterly adjusted profit, helped by demand for fuel and refined products amid tight supplies.
Latest Release
Aug 02, 2022
EPS / Forecast
10.61 / 8.71
Revenue / Forecast
54.24B! / 40.34B
Latest Release
Aug 02, 2022
EPS / Forecast
10.61 / 8.71
Revenue / Forecast
54.24B! / 40.34B
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
(Reuters) -Marathon Petroleum Corp on Tuesday beat Wall Street expectations for quarterly profit as its margins soared amid tight supplies and high demand for refined products.
The top U.S. refiner also approved an additional $5 billion in stock repurchases, while rival Phillips 66 (NYSE:PSX) returned $1.2 billion to shareholders through dividends and share buybacks during the reported quarter.
Shares of Phillips 66 fell 5.4% after it missed analysts' estimates for quarterly profit, while Marathon rose 1%.
U.S. President Joe Biden's administration has criticized oil firms for pouring cash into shareholder payouts rather than significantly investing in more refining capacity despite short supply.
Marathon's crude capacity utilization was about 94% in the fourth quarter, resulting in total throughput of 2.9 million barrels per day (bpd), which was roughly flat year-over-year.
It expects lower first quarter crude throughput volumes of roughly 2.5 million barrels per day, representing 88% utilization, due to higher turnaround activity in the first half of 2023.
The company's refining and marketing margins surged 81.5% to $28.82 per barrel compared with last year.
Marathon had a 109% margin capture rate - the rate of realized margins rather than benchmark margins - this quarter, and expects to move towards an average of 100% in coming quarters, in part by optimizing fuel production during maintenance periods.
"We have meaningfully changed the way we go to market from a commercial perspective throughout our entire company," said Rick Hessling, Marathon's senior vice president of global feedstocks, on Tuesday's first quarter earnings call.
Realized refining margins for Phillips 66 jumped 65% to $19.73 per barrel.
"Refining margins (for Phillips) were weaker than forecast in the Atlantic Basin and West Coast, driving the earnings miss," said Jason Gabelman, analyst, Cowen and Co.
Profits last year from turning oil into gasoline, diesel and jet fuel hit multi-decade highs as refineries ran at full throttle to meet rising demand amid a supply squeeze following Russia's invasion of Ukraine and plant closings.
The shortage of diesel inventories and the EU ban should continue to support refining margins, according to Marathon's Hessling.
Findlay, Ohio-based Marathon posted fourth-quarter adjusted net income of $6.65 per share compared with analysts' average estimate of $5.67 per share, according to Refinitiv data.
Phillips 66 reported an adjusted income of $4 per share, compared with analysts' expectations of $4.35 per share.
"While (Phillips 66's) total cash return for the quarter was above our estimate, it still falls short of the company's goal of returning 40% of operating cash flow," said Faisal Hersi, analyst at Edward Jones.
Latest Release
Jan 31, 2023
EPS / Forecast
6.65 / 5.67
Revenue / Forecast
40.09B! / 34.27B
The top U.S. refiner also approved an additional $5 billion in stock repurchases, while rival Phillips 66 (NYSE:PSX) returned $1.2 billion to shareholders through dividends and share buybacks during the reported quarter.
Shares of Phillips 66 fell 5.4% after it missed analysts' estimates for quarterly profit, while Marathon rose 1%.
U.S. President Joe Biden's administration has criticized oil firms for pouring cash into shareholder payouts rather than significantly investing in more refining capacity despite short supply.
Marathon's crude capacity utilization was about 94% in the fourth quarter, resulting in total throughput of 2.9 million barrels per day (bpd), which was roughly flat year-over-year.
It expects lower first quarter crude throughput volumes of roughly 2.5 million barrels per day, representing 88% utilization, due to higher turnaround activity in the first half of 2023.
The company's refining and marketing margins surged 81.5% to $28.82 per barrel compared with last year.
Marathon had a 109% margin capture rate - the rate of realized margins rather than benchmark margins - this quarter, and expects to move towards an average of 100% in coming quarters, in part by optimizing fuel production during maintenance periods.
"We have meaningfully changed the way we go to market from a commercial perspective throughout our entire company," said Rick Hessling, Marathon's senior vice president of global feedstocks, on Tuesday's first quarter earnings call.
Realized refining margins for Phillips 66 jumped 65% to $19.73 per barrel.
"Refining margins (for Phillips) were weaker than forecast in the Atlantic Basin and West Coast, driving the earnings miss," said Jason Gabelman, analyst, Cowen and Co.
Profits last year from turning oil into gasoline, diesel and jet fuel hit multi-decade highs as refineries ran at full throttle to meet rising demand amid a supply squeeze following Russia's invasion of Ukraine and plant closings.
The shortage of diesel inventories and the EU ban should continue to support refining margins, according to Marathon's Hessling.
Findlay, Ohio-based Marathon posted fourth-quarter adjusted net income of $6.65 per share compared with analysts' average estimate of $5.67 per share, according to Refinitiv data.
Phillips 66 reported an adjusted income of $4 per share, compared with analysts' expectations of $4.35 per share.
"While (Phillips 66's) total cash return for the quarter was above our estimate, it still falls short of the company's goal of returning 40% of operating cash flow," said Faisal Hersi, analyst at Edward Jones.
Latest Release
Jan 31, 2023
EPS / Forecast
6.65 / 5.67
Revenue / Forecast
40.09B! / 34.27B
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
Jefferies analysts upgraded shares of Marathon Petroleum (NYSE:MPC) to Buy from Hold, raising the firm's price target on the stock to $157 from $134 on Friday.
The analysts told investors in a note that the rating is "driven by a step-up in margin capture to the high ~90%s from the prior avg of ~90%." In addition, they said, "strong FCF generation, cash balance, and distributions from MPLX (NYSE:MPLX) give us confidence in MPC's ability to return capital to shareholders through the cycle."
Over the past 18 months, MPC has taken steps to improve its commercial performance, which includes improving its margin capture, argued the analysts.
"We expect MPC to consistently maintain a higher capture rate. Accordingly, we have updated our capture estimates from the low 90% to the high 90% range and to ~100% in 2025," the analysts wrote.
Furthermore, they believe Marathon's strong cash balance supports buybacks and operations.
"MPC ended '22 with ~$11.8bn in cash and short-term investments. We see MPC requiring $1bn cash on hand plus $2bn distributions (and growing) from MPLX to fund its dividend and capital commitment for refining. In '22, MPC returned ~75% of OCF (pre-WC) to shareholders through buybacks and dividends," they explained.
"Assuming a similar cadence in '23-'25, we see MPC generating cumulative OCF (pre-WC) of $35bn and repurchasing ~$23bn or ~38% of its market cap through 2025 (Ex-2). At these levels, MPC will be able to maintain a cash balance sufficiently above its minimum threshold."
The analysts told investors in a note that the rating is "driven by a step-up in margin capture to the high ~90%s from the prior avg of ~90%." In addition, they said, "strong FCF generation, cash balance, and distributions from MPLX (NYSE:MPLX) give us confidence in MPC's ability to return capital to shareholders through the cycle."
Over the past 18 months, MPC has taken steps to improve its commercial performance, which includes improving its margin capture, argued the analysts.
"We expect MPC to consistently maintain a higher capture rate. Accordingly, we have updated our capture estimates from the low 90% to the high 90% range and to ~100% in 2025," the analysts wrote.
Furthermore, they believe Marathon's strong cash balance supports buybacks and operations.
"MPC ended '22 with ~$11.8bn in cash and short-term investments. We see MPC requiring $1bn cash on hand plus $2bn distributions (and growing) from MPLX to fund its dividend and capital commitment for refining. In '22, MPC returned ~75% of OCF (pre-WC) to shareholders through buybacks and dividends," they explained.
"Assuming a similar cadence in '23-'25, we see MPC generating cumulative OCF (pre-WC) of $35bn and repurchasing ~$23bn or ~38% of its market cap through 2025 (Ex-2). At these levels, MPC will be able to maintain a cash balance sufficiently above its minimum threshold."
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
(Reuters) -Marathon Petroleum Corp said on Tuesday it expects strong margins throughout 2023 as demand grows while supply constraints persist, after the top U.S. refiner beat Wall Street estimates for quarterly profit.
Closure of facilities during the pandemic and demand recovery have lifted refiners' margins, further bolstered by tight crude supplies following Russia's invasion of Ukraine and a jump in jet fuel demand due to a travel boom.
While CEO Michael Hennigan was optimistic about the company sustaining strong margins, he cautioned that "much will depend on the ongoing recovery in China and ... recessionary impacts".
Marathon refining and marketing margin soared 70.8% to $26.15 per barrel during the January-March quarter, compared with a year earlier.
"While we expect refining profits to decline from record highs ... they will likely remain above historical averages given solid product demand and negligible new global refining capacity additions near-term," Edward Jones analyst Faisal Hersi said.
Following its strong quarterly performance, Marathon also expanded its share buyback programme by $5 billion, bringing its total stock repurchase authorization to $9 billion.
The company said crude capacity utilization was 89% in the reported quarter, lower than last year's 91% due to planned maintenance activity in the Gulf Coast region.
U.S. oil refiners dialed back operating runs during the quarter due to maintenance activities after solid demand recovery led to sky-high utilization rates last year.
Marathon's quarterly throughput of 2.8 million barrels per day was largely the same compared with the year-ago period.
For the current quarter, it expects throughput to be 2.86 million bpd.
The company reported earnings per share of $6.09 compared with analysts' average estimate of $5.74, according to Refinitiv data.
Shares fell 5.7% to $115.54, along with a more than 4% decline in crude prices on worries about a U.S. bond default and weak economic data from China.
Closure of facilities during the pandemic and demand recovery have lifted refiners' margins, further bolstered by tight crude supplies following Russia's invasion of Ukraine and a jump in jet fuel demand due to a travel boom.
While CEO Michael Hennigan was optimistic about the company sustaining strong margins, he cautioned that "much will depend on the ongoing recovery in China and ... recessionary impacts".
Marathon refining and marketing margin soared 70.8% to $26.15 per barrel during the January-March quarter, compared with a year earlier.
"While we expect refining profits to decline from record highs ... they will likely remain above historical averages given solid product demand and negligible new global refining capacity additions near-term," Edward Jones analyst Faisal Hersi said.
Following its strong quarterly performance, Marathon also expanded its share buyback programme by $5 billion, bringing its total stock repurchase authorization to $9 billion.
The company said crude capacity utilization was 89% in the reported quarter, lower than last year's 91% due to planned maintenance activity in the Gulf Coast region.
U.S. oil refiners dialed back operating runs during the quarter due to maintenance activities after solid demand recovery led to sky-high utilization rates last year.
Marathon's quarterly throughput of 2.8 million barrels per day was largely the same compared with the year-ago period.
For the current quarter, it expects throughput to be 2.86 million bpd.
The company reported earnings per share of $6.09 compared with analysts' average estimate of $5.74, according to Refinitiv data.
Shares fell 5.7% to $115.54, along with a more than 4% decline in crude prices on worries about a U.S. bond default and weak economic data from China.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Marathon Petroleum NYSE: MPC wydobycie i przesył ropy naftowej
Marathon Petroleum quarterly profit slumps 63% on lower refining margins
(Reuters) -U.S. refiner Marathon Petroleum Corp (NYSE:MPC) reported a 63% drop in second-quarter profit on Tuesday, as improved fuel supplies and slowing economic activity compressed its margins.
Despite a resilient fuel demand in the U.S., an increase in global refining capacity compared with last year and slowing economic activity has brought the market down from the peaks seen in 2022.
Marathon said crude capacity utilization was 93%, compared with 100% a year earlier, due to planned maintenance activity in the Mid-Continent and West Coast regions, resulting in a total throughput of 2.9 million barrels per day (bpd) for the reported quarter.
Refining and marketing margin was $22.10 per barrel for the April-June quarter, down from $37.54 per barrel a year earlier.
The Findlay, Ohio-based refiner said net income attributable to company stood at $2.2 billion, or $5.32 per share, for the three months ended June 30, compared with $5.9 billion, or $10.95 per, a year earlier.
On an adjusted basis, Marathon reported earnings of $5.32 per share, beating average analysts' estimate of $4.59 per share, on the back of improvement in refining costs and lower tax rate.
Rival Valero Energy Corp (NYSE:VLO) last week also saw its quarterly profits dwindle as refining margins came under pressure, but beat estimates on strength in its renewable diesel business.
(Reuters) -U.S. refiner Marathon Petroleum Corp (NYSE:MPC) reported a 63% drop in second-quarter profit on Tuesday, as improved fuel supplies and slowing economic activity compressed its margins.
Despite a resilient fuel demand in the U.S., an increase in global refining capacity compared with last year and slowing economic activity has brought the market down from the peaks seen in 2022.
Marathon said crude capacity utilization was 93%, compared with 100% a year earlier, due to planned maintenance activity in the Mid-Continent and West Coast regions, resulting in a total throughput of 2.9 million barrels per day (bpd) for the reported quarter.
Refining and marketing margin was $22.10 per barrel for the April-June quarter, down from $37.54 per barrel a year earlier.
The Findlay, Ohio-based refiner said net income attributable to company stood at $2.2 billion, or $5.32 per share, for the three months ended June 30, compared with $5.9 billion, or $10.95 per, a year earlier.
On an adjusted basis, Marathon reported earnings of $5.32 per share, beating average analysts' estimate of $4.59 per share, on the back of improvement in refining costs and lower tax rate.
Rival Valero Energy Corp (NYSE:VLO) last week also saw its quarterly profits dwindle as refining margins came under pressure, but beat estimates on strength in its renewable diesel business.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
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