Marathon Petroleum beats fourth quarter profit estimates on midstream strength

Marathon Petroleum Tops Q4 Earnings Estimates Despite Falling Refining Margins

Despite declining refining margins, Marathon Petroleum Corp. (NYSE: MPC) on Tuesday reported higher-than-expected earnings for the fourth quarter of 2024, driven by stronger performance in the midstream and renewable diesel divisions. Marathon Petroleum booked an adjusted net income of $249 million, or $0.77 per diluted share, for the fourth quarter of 2024. This is significantly lower compared to the adjusted net income of $1.5 billion, or $3.9…

Marathon Petroleum beats fourth quarter profit estimates on midstream strength

(Reuters) -Top U.S. refiner Marathon Petroleum beat fourth-quarter profit estimates on Tuesday, as strength in its midstream and renewable diesel segment helped offset a slump in refining margins. The refiner’s midstream segment reported an adjusted core profit of $1.71 billion in the quarter, compared with $1.57 billion a year earlier, benefiting from accretive contributions of its recently acquired Utica and Permian basins assets. The company’…

Marathon Petroleum (NYSE:MPC) Given New $183.00 Price Target at Wells Fargo & Company

Marathon Petroleum (NYSE:MPC – Get Free Report) had its price objective lifted by Wells Fargo & Company from $182.00 to $183.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 16.22% from the stock’s previous close. Other equities research analysts have also recently issued research report…

Marathon Petroleum (NYSE:MPC) Releases Quarterly Earnings Results

Marathon Petroleum (NYSE:MPC – Get Free Report) issued its quarterly earnings data on Tuesday. The oil and gas company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.06 by $0.71, Zacks reports. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum Trading Up 1.0 […]