10 Jun

Marathon Petroleum Stock Fell 20% in Q2

WRITTEN BY Maitali Ramkumar

Marathon Petroleum

Since the beginning of the second quarter on April 1, Marathon Petroleum (MPC) stock has fallen 20%. However, the SPDR S&P 500 ETF (SPY), a broader equity market indicator, has increased 1% during the same period. So far, Marathon Petroleum has underperformed SPY in the second quarter.

Marathon Petroleum’s peers have also fallen in the second quarter. Valero Energy (VLO) and Phillips 66 (PSX) have fallen 12% and 11%, respectively, since April 1. HollyFrontier (HFC) and Delek US Holdings (DK) have fallen 19% and 4%, respectively, in the second quarter.

Marathon Petroleum Stock Fell 20% in Q2

Marathon Petroleum stock fell

So far in the second quarter, Marathon Petroleum stock has fallen. The stock likely fell due to its lower-than-expected first-quarter earnings. The fall was partially offset by recovering refining indicators in the second quarter.

In the current quarter, Marathon Petroleum announced lower-than-expected first-quarter earnings. Marathon Petroleum posted a loss of $0.09 per share in the first quarter. The company’s refining and marketing segment posted an operating loss of $334 million. However, the company’s retail and midstream earnings rose year-over-year. For more on Marathon Petroleum’s earnings, read MPC’s Refining Segment after Its Operating Loss in Q1.

In the second quarter, Marathon Petroleum’s refining earnings indicators have started recovering. The blended crack has risen 29% YoY in the second quarter. However, the sweet differential and sour differential have narrowed 19% YoY and 75% YoY, respectively, in the second quarter. Marathon Petroleum’s earnings could be supported by a better crack and partly offset by lower differentials.

Latest articles

A US-China trade deal, which appeared to on the table up until last week, might not happen this year. Yesterday, the Dow Jones fell for a third day.

The case for Apple (AAPL) acquiring Sonos has gotten more compelling. Sonos (SONO) has announced it has acquired Snips for $37.5 million.

In October, PayPal (PYPL) led the exit of one-quarter of Libra's original partners, dealing a blow to Facebook’s (FB) cryptocurrency project.

Facebook CEO Mark Zuckerberg joined Donald Trump for dinner at the White House in October, but both sides kept quiet about the meeting, NBC News has revealed.

Advanced Micro Devices (AMD) has made headlines as its stock has crossed the $40 mark, reaching a new 20-year high. Here's what's driven the stock.

ExxonMobil (XOM) stock has risen 3.1% month-to-date, the most among peers. News of asset sale plans yesterday boosted XOM stock.