Marathon Petroleum Corporation ($MPC) Stock Forecast: Up 5.1% Today

What is Marathon Petroleum Corporation?

Marathon Petroleum Corporation (MPC): Marathon Petroleum Corporation is a leading, integrated downstream energy company. The company operates the nation's largest refining system.

Why is Marathon Petroleum Corporation going up?

MPC stock is up 5.1% on Nov 6, 2024 15:25

• Marathon Petroleum (MPC) shares surged after reporting third-quarter results that surpassed expectations, with total revenues and adjusted EBITDA beating consensus estimates.
• The positive earnings report likely boosted investor confidence in the company's financial performance and future outlook, leading to the bullish market movement.
• The broader market rally on Election Day and positive sentiment towards energy stocks may have also contributed to MPC's strong performance.
• Overall, MPC's robust financial results and favorable market conditions propelled the stock to a bullish trajectory, outperforming the broader market.

MPC Price Chart

MPC Technical Analysis

MPC News

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Wall Street Rallies On Election Day, Palantir Skyrockets, Bitcoin Tops $70,000: What's Driving Markets Tuesday?

https://www.benzinga.com/markets/cryptocurrency/24/11/41753325/wall-street-rallies-on-election-day-palantir-skyrockets-bitcoin-tops-70-000-whats-driving-?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site

Marathon Petroleum Q3 Earnings: Outpaces Expectations, Powers Up Shareholder Rewards & More - Marathon Petroleum ( NYSE:MPC )

Marathon Petroleum Corporation MPC shares are trading higher after its third-quarter results. Total revenues and other income of $35.4 billion topped the consensus of $32.8 billion. Adjusted EBITDA was $2.49 billion for the quarter, compared with $5.71 billion in prior year quarter.

https://www.benzinga.com/news/earnings/24/11/41744366/marathon-petroleum-q3-earnings-outpaces-expectations-powers-up-shareholder-rewards-more

Marathon Petroleum ( MPC ) Tops Q3 Earnings and Revenue Estimates

Marathon Petroleum (MPC) delivered earnings and revenue surprises of 92.78% and 12.03%, respectively, for the quarter ended September 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2364080/marathon-petroleum-mpc-tops-q3-earnings-and-revenue-estimates

Marathon Petroleum Q3 Earnings Preview: Can Strong Sales Volume Offset Rising Costs? - Marathon Petroleum ( NYSE:MPC )

As Marathon Petroleum Corp MPC prepares to release its third-quarter fiscal year 2024 earnings, investors are focused on the company's performance indicators and market outlook.

https://www.benzinga.com/news/24/11/41725310/marathon-petroleum-q3-earnings-preview-can-strong-sales-volume-offset-rising-costs

Marathon Petroleum ( MPC ) Dips More Than Broader Market: What You Should Know

In the most recent trading session, Marathon Petroleum (MPC) closed at $144.76, indicating a -0.36% shift from the previous trading day.

https://www.zacks.com/stock/news/2361087/marathon-petroleum-mpc-dips-more-than-broader-market-what-you-should-know

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Marathon Petroleum Corporation Price History

08.09.2024 - MPC Stock was down 7.5%

• Deep-pocketed investors are showing a bearish stance on Marathon Petroleum through the options frenzy surrounding the stock.
• The significant activity in options trading indicates a possible anticipation of a further decline in MPC's stock price.
• The bearish sentiment towards Marathon Petroleum could be influenced by concerns regarding the company's financial performance or industry-related factors affecting its business outlook.

30.07.2024 - MPC Stock was up 4.3%

• The rise in Marathon Petroleum's short interest suggests increased investor pessimism toward the stock, potentially impacting its price.
• Phillips 66 (PSX) concentrating on stable business sectors like midstream, renewables, and chemicals may have positively influenced investor sentiment toward the energy industry, indirectly benefiting MPC.
• MicroStrategy's notable stock performance and strategic ventures in Bitcoin may have had a favorable impact on the tech sector, enhancing overall investor confidence and interest in related firms such as Marathon Petroleum.

06.10.2024 - MPC Stock was up 5.1%

• Marathon Petroleum (MPC) shares surged after reporting third-quarter results that surpassed expectations, with total revenues and adjusted EBITDA beating consensus estimates.
• The positive earnings report likely boosted investor confidence in the company's financial performance and future outlook, leading to the bullish market movement.
• The broader market rally on Election Day and positive sentiment towards energy stocks may have also contributed to MPC's strong performance.
• Overall, MPC's robust financial results and favorable market conditions propelled the stock to a bullish trajectory, outperforming the broader market.

08.08.2023 - MPC Stock was up 4.7%

• MPC had a strong bullish movement today.
• The bullish movement could be attributed to positive sentiment surrounding the energy sector.
• The article mentioning a bearish stance by a whale investor on MPC might not have had a significant impact on the stock's movement.
• The news about Blue Earth Resources securing a branded jobber contract with Marathon Petroleum Corporation might have contributed to the positive market movement, indicating potential growth opportunities for MPC.

03.10.2023 - MPC Stock was down 5.3%

• MPC experienced a strong bearish movement today.
• The lack of interest in participating in the Citgo refinery asset auction could have contributed to the bearish market movement.
• The bullish stance taken by someone with a significant amount of money in the options market suggests a potential positive outlook for MPC.
• The positive earnings call transcript, where MPC beat earnings expectations, indicates a strong fundamental performance. However, this positive news might not have had an immediate impact on the market movement.

12.05.2024 - MPC Stock was down 1.6%

• Short interest in Marathon Petroleum has increased significantly, with 7.27 million shares sold short, representing 2.07% of all regular shares available for trading.
• The rise in short interest indicates bearish sentiment among traders, as they are betting on the stock price to fall.
• The high short interest could be driven by concerns over the company's performance or industry outlook, leading to increased selling pressure on the stock.
• Traders will be closely monitoring developments in Marathon Petroleum to see if the bearish trend continues or if there are any potential catalysts for a reversal in the stock price.

01.10.2023 - MPC Stock was up 5.3%

• Marathon Petroleum's CEO confirmed lack of interest in participating in Citgo refinery asset auction, indicating a focus on the company's own refineries.
• The company's Q3 2023 earnings call transcript was released, providing insights into its financial performance during that period.
• Marathon Petroleum's decision to not participate in the current auction process for shares in Citgo Petroleum could be seen as a strategic move to prioritize its own operations.
• The positive outlook from top Wall Street analysts could have contributed to the bullish movement of MPC stock.

14.04.2024 - MPC Stock was down 5.2%

• A significant change in leadership was disclosed by Marathon Petroleum, with Maryann T. Mannen assuming the role of the new CEO. This type of transition can introduce uncertainty and volatility in the stock's performance.
• The bearish trend surrounding MPC was further emphasized by a notable level of options trading activity, where a majority of investors took a pessimistic view on the company.
• Despite the recent decline, there are signs that the stock may be oversold and poised for a potential rebound, particularly with analysts on Wall Street raising their earnings forecasts.
• The interplay of leadership adjustments, bearish options trading, and potential technical signals suggesting a reversal may have contributed to the downward movement in Marathon Petroleum's stock price today.

31.00.2024 - MPC Stock was up 6.1%

• The bullish movement in MPC's stock today can be attributed to the following factors:
• 1. Strong Q4 Earnings: Marathon Petroleum reported better-than-expected fourth-quarter results, surpassing analysts' expectations on both revenue and profit. This positive financial performance likely boosted investor confidence and contributed to the bullish market movement.
• 2. Bullish Sentiment from Deep-Pocketed Investors: Whale investors have taken a bullish approach towards Marathon Petroleum, as indicated by public options records. This bullish sentiment from influential investors can influence market players and contribute to the upward movement in the stock.
• 3. Positive Revenue and Profit Figures: Despite a plunge in revenue and profit compared to the previous year, Marathon Petroleum's Q4 results still exceeded expectations. The company's ability to navigate challenging market conditions and maintain a strong financial position likely impressed investors, leading to the bullish market movement.
• 4. Refining and Marketing Performance: Marathon Petroleum's refining and marketing segment showed positive indicators, such as increased refined product sales volume and a high crude oil capacity utilization rate. These operational factors may have contributed to investor optimism and the subsequent bullish movement in the stock.

06.07.2024 - MPC Stock was up 6.3%

• Strong bullish movement was observed in MPC stock.
• Second-quarter results were impressive, exceeding revenue and earnings per share (EPS) expectations.
• Positive financial performance, with increased revenues and adjusted EBITDA, bolstered the bullish sentiment.
• Analysts' optimistic outlook on MPC, demonstrated by the average brokerage recommendation, may have further boosted investor trust in the company's stock.

06.07.2024 - MPC Stock was up 6.4%

• Marathon Petroleum (MPC) posted mixed second-quarter results for 2024, falling short on earnings per share but exceeding revenue expectations.
• Despite missing earnings estimates, the company outperformed in total revenues and other income, prompting a strong uptrend in the stock price.
• The company's improved profitability in the second quarter, reflected in an adjusted EBITDA of $3.39 billion, bolstered positive market sentiment.
• The better-than-expected earnings and revenue figures for Q2 2024 likely boosted investor confidence, fueling the bullish movement in MPC stock.

02.07.2024 - MPC Stock was down 5.4%

• Analysts are bullish on Marathon Petroleum (MPC), but the stock showed a bearish trend today, showing a difference between analyst recommendations and market performance.
• Lower refining margins are expected to impact MPC's second-quarter earnings negatively, contributing to the bearish movement.
• The stock went down when the overall market was up, indicating that particular factors linked to MPC influenced its decline.
• Ongoing investigations into potential breach of fiduciary duties by Marathon Petroleum's leadership may have increased investor concerns, further driving the stock price downwards.