23 Apr

Has Marathon Petroleum Stock Fallen before Its Q1 Earnings?

WRITTEN BY Maitali Ramkumar

Marathon Petroleum’s stock performance

Since March 22, Marathon Petroleum (MPC) stock has fallen. In this part, we’ll compare Marathon Petroleum’s stock returns to the SPDR S&P 500 ETF (SPY), which is a broader market indicator.

Has Marathon Petroleum Stock Fallen before Its Q1 Earnings?

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Marathon Petroleum stock compared to SPY

Marathon Petroleum stock has been volatile in the past month. Although the stock has fallen sharply since April 10, it rose earlier in the month. On March 22–April 10, Marathon Petroleum stock rose 3.8% due to the strengthening refining crack environment. The blended crack, Marathon Petroleum’s leading indicator, was weaker in January and February. The blended crack rose sharply in March. The data for March were published in the first week of April and boosted Marathon Petroleum stock. Equity markets also rose on March 22–April 10. SPY rose 3.2% during the same period.

However, the uptrend in Marathon Petroleum stock has reversed since April 10 due to the expectation of dull first-quarter earnings. Although the company earnings are expected to rise, it isn’t as high as the integrated earnings expected by the market. Marathon Petroleum has fallen 6.0% since April 10.

Since March 22, Marathon Petroleum stock has fallen 2.4%. The SPDR S&P 500 ETF (SPY), a broader market indicator, has increased 3.9% since March 22. Marathon Petroleum stock underperformed SPY in the past month.

Peers’ performance

Phillips 66 (PSX) and HollyFrontier (HFC) have fallen 0.6% and 6.5%, respectively, since March 22. However, Valero Energy (VLO) and PBF Energy (PBF) have increased 4.0% and 4.1%, respectively, during the same period.

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