Marathon Petroleum Corp (MPC) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $1.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.98. The company posted revenue of $16790.00 million in the period, compared to analysts expectations of $14500.00 million. The company’s revenue was down -18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 EPS.
Many Wall Street Analysts have commented on Marathon Petroleum Corp. Marathon Petroleum Corp was Downgraded by Scotia Howard Weil to ” Sector Perform” on Jul 11, 2016.
Marathon Petroleum Corp opened for trading at $38.22 and hit $38.95 on the upside on Thursday, eventually ending the session at $38.17, with a gain of 0.90% or 0.34 points. The heightened volatility saw the trading volume jump to 63,63,686 shares. Company has a market cap of $20,224 M.
In a different news, on May 31, 2016, Steven A Davis (director) purchased 1,500 shares at $34.70 per share price. According to the SEC, on May 3, 2016, Charles E Bunch (director) purchased 2,000 shares at $38.56 per share price. On Dec 14, 2015, Pamela K.m. Beall (officer ) sold 47,342 shares at $52.73 per share price, according to the Form-4 filing with the securities and exchange commission.
Marathon Petroleum Corporation (MPC) is engaged petroleum product refining marketing retail and transportation businesses. It has three segments: Refining & Marketing which refines crude oil and other feedstocks at its seven refineries in the Gulf Coast and Midwest regions of the United States purchases ethanol and refined products for resale and distributes refined products; Speedway which sells transportation fuels and convenience products in the retail market in the Midwest East Coast and Southeast and Pipeline Transportation which transports crude oil and other feedstocks to its refineries and other locations delivers refined products to wholesale and retail market areas and includes the aggregated operations of MPLX LP.