All rights reserved. © 2020 Forbes Media LLC. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. The federal government's EIA report revealed that crude inventories fell by 2 million barrels compared to expectations of a 1.9-million-barrel build for the week ending Sep 25. by Zacks Equity Research Published on September 22,2020. Find the latest Marathon Petroleum Corporation (MPC) stock quote, history, news and other vital information to help you with your stock trading and investing. Identify stocks that meet your criteria using seven unique stock screeners. But overall, due to the McDermott fiasco, my choices gained only 6.2%, while the S&P 500 returned 26.5%. I founded Dorfman Value Investments in 1999. With fewer people driving, because they are working from home or not traveling because of COVID-19, fuel consumption is down. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. He can be reached at jdorfman@dorfmanvalue.com. earnings-expectations NASDAQ data is at least 15 minutes delayed. energy Marathon Petroleum (MPC) is the largest independent refiner in the U.S. Its stock has had a rough go. The Paris-based organization now projects crude consumption to fall 8.4 million barrels per day to 91.7 million barrels per day in 2020. by Nilanjan Choudhury Published on September 08,2020. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Get timely investing news and information delivered to your inbox from Forbes Investing Digest. Subtract the cost of three barrels of raw crude. Marathon Petroleum (MPC) is the largest independent refiner in the U.S. Its stock has had a rough go. These returns cover a period from January 1, 1988 through August 31, 2020. Selling for only nine times estimated 2020 earnings, I think it’s due for a comeback. Marathon Petroleum (MPC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. earnings John Dorfman is chairman of Dorfman Value Investments LLC. No sector is immune to this fast-evolving deadly coronavirus, especially the energy space wherein the Refining & Marketing industry is hounded by a slew of headwinds. Weekly figures from EIA show that domestic crude output has dropped to 10.7 million barrels per day, since reaching 13.1 million in the second week of March. In general, I believe that low energy prices favor the trucking industry, and higher energy prices favor railroads. Do the numbers hold clues to what lies ahead for the stock? Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Meanwhile, used-car sales have risen five years in a row, and are running a little over 40 million vehicles. Copyright 2020 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606. ZacksTrade and Zacks.com are separate companies. by Zacks Equity Research Published on August 19,2020, The Zacks Analyst Blog Highlights: Royal Dutch Shell, Marathon Petroleum, Phillips 66, HollyFrontier Corp., Exxon Mobil and Valero Energy, by Kaibalya Pravo Dey Published on August 18,2020. His firm or clients may own or trade securities discussed in this column. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. Zacks Style Scores Education - Learn more about the Zacks Style Scores. Sign up for free now. Get short term trading ideas from the MarketBeat Idea Engine. Each of the company logos represented herein are trademarks of Verizon Media; Microsoft Corporation; Nasdaq, Inc.; Dow Jones & Company; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. Want to see which stocks are moving? Marathon Petroleum (MPC) is expected to have incurred charges worth $125-$175 million in the third quarter of 2020 for severance and employee benefits … Gasoline sales in the U.S. continue to tick up in recent weeks in a recovery from historic lows as the economy reopened and lockdown measures imposed to curb the coronavirus pandemic were eased. Starting in 2010, new car sales in the U.S. increased for seven years in a row. Marathon Petroleum, top U.S. refiner, begins widespread job cuts reuters.com - September 29 at 8:34 PM: Marathon Petroleum (NYSE:MPC) Upgraded to "Hold" at Tudor Pickering americanbankingnews.com - September 28 at 9:50 AM: Marathon Petroleum Corp. and MPLX LP announce redemption of outstanding senior notes marketwatch.com - September 25 at 1:06 PM Marathon Petroleum Corp., the largest U.S. oil refiner, began cutting jobs on Tuesday across the company, according to people familiar with the matter, as the COVID-19 pandemic sapped demand for motor fuels. Before that I was a managing director at Dreman Value Management, and a financial journalist for many years. industry-outlook Receive a free world-class investing education from MarketBeat. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. I take great joy in running my investment firm from an old mill building on the banks of the Charles River in Newton Upper Falls, Massachusetts, and trying to make money for my clients. Within each Score, stocks are graded into five groups: A, B, C, D and F. As you might remember from your school days, an A, is better than a B; a B is better than a C; a C is better than a D; and a D is better than an F. As an investor, you want to buy stocks with the highest probability of success. energy Please log in to your account or sign up in order to add this asset to your watchlist. 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A weekly report from the EIA showed a crude stockpile draw nearly twice above expectations, even though gasoline and distillates supplies rose. China Is Key to Oil Demand. ExxonMobil (XOM), Royal Dutch Shell (RDS.A) and ConocoPhillips (COP) issued updates on their upcoming Q3 earnings. Opinions expressed by Forbes Contributors are their own. Before that I was a managing director at Dreman Value Management, and a financial journalist for many years. Is the Crude Price Rebound a Boon or Bane for Refiners? Refineries Convert to Biodiesel Plants: Is it a Survival Plan? consensus-outlook Marathon Petroleum Corporation (MPC) Quote Overview, Marathon Petroleum Corporation (MPC) Zacks News, Oil & Gas Stock Roundup: Exxon, Shell, ConocoPhillips' Q3 Updates & More, Marathon Petroleum (MPC) to Lay Off 12% Staff Amid Coronavirus, Oil Posts a Quarterly Gain as Supplies Fall for the Third Week, MPLX Commences Binding Open Season for SLC Core Pipeline, Oil & Gas Stock Roundup: Chevron's Ecuador Win, Eni's Egypt Gas Find & More, Oil Gets a Lift From EIA Supply Data, Moves Back Above $40, IEA Follows EIA & OPEC, Sees Decelerating Oil Demand Recovery, Oil & Gas Stock Roundup: TOTAL's EV Battery JV, Chevron's Gorgon Delay & More, Key Reasons for Oil's Lowest Settlement in Nearly a Month, Things You Should Know About the EIA Crude Inventory Report.
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