Marathon Petroleum Corp. (MPC) is a leader in integrated, downstream energy. It operates the country’s largest refining system. The company’s marketing portfolio includes branded locations including Marathon brand retail outlets. The company also owns the general partner and mainstream limited partner interest in MPLX LP.
The price of MPC stock during the regular trading on February 11, 2022, was $81.1 with a 1.82% incline. At last check in the aftermarket, the stock further swelled by 0.32%.
MPC: Events and Happenings
On February 11, 2022, MPC updated about filing Form SC13G/A with SEC. The form refers to the amended statement of ownership. Also, on the same date, the company reported about its nomination to the Dow Jones Sustainability North America Index for the consecutive third year. The company achieved this feat in relation to its performance on the annual S&P Global Corporate Sustainability Assessment.
MPC: Key Financials
On February 2, 2022, MPC released its financial results for the fourth quarter of 2022 ended December 31, 2021. Some of the key updates are as follows.
Revenue
Total revenues and other income in Q4 2021 were $35.61 billion compared to $18.1 billion in the same period of 2020. The company beat the analysts’ estimates by $9.82 billion.
EPS
Diluted net income per share in Q4 2021 was $1.1 billion or $1.27 against $0.57 billion or $0.44 in the same quarter of 2020. The company beat the analysts’ estimates of EPS by $0.73 per share.
On January 27, 2022, MPC informed that it’s the annual meeting of stockholders will be held on April 27, 2022. Shareholders of record are entitled to notice of and to vote at the yearly meeting. On January 27, 2022, MPC announced to declare a dividend of $0.58 per share on the company’s common stock. The dividend is payable to stockholders of record by March 10, 2022.
On December 14, 2021, MPC reported about the closure of its joint venture with ADM to produce soybean oil. Both the companies supplied soybean oil in view of the quickly growing demand for renewable diesel fuel. The venture is named Green Bison Soy Processing, LLC with ADM owning 75% and MPC owning 25% of the venture.
Conclusion
MPC outplayed during the past year period as its stock price rise by 57% over the yearly period. The latest development in the stock price is likely the result of SEC filing and nomination of the company to the Dow Jones Sustainability North America Index. The analysts are estimating the revenue in the first fiscal quarter of 2022 to be in the range of $28.9 billion and EPS to be $0.91 per share.
