The U.S. stock market suffered on June 26, and the short lived mutiny in Russia made crude dearer, causing MPC stock to swell by 1.25%. The mutiny by the Wagner Group is challenging Vladimir Putin’s future. Major stocks like Meta Platforms Inc. (META.o), Alphabet Inc. (GOOGL.O), etc., experienced slight correction.
Marathon Petroleum Corp. (MPC Stock) – Financial Analysis
Kirr Marbach & Co. LLN IN corrected its position in Marathon by 1.0% in Q1, 2023. The firm sold 956 shares from total holdings of 92,318 shares. The petroleum company accounts for 3.9% of Kir Marbach’s portfolio, worth $12.44 Million. Global Assets Advisory LLC increased its holding by 3.4% in Q4 2022. Its current holdings are worth $314k.
Strategic Blueprint LLC also expanded its portfolio by adding 1.4% in Q4 2024, now worth $778k. FirstPurpose Wealth LLC hiked its position in Marathon Petroleum by 3.7% in Q4; its current status is worth $298k. Armstrong Advisory Group Inc. expanded its position by acquiring 44.1% in Q1, 2023; the current valuation is worth $41k.
Chevron Corporation (NYSE: CVX) the United States based multinational energy company focused in oil and gas is trading during press time at, $154.01, gaining 1.76%.
At press time, NYSE: MPC is trading at $113.04, gaining 1.25%; previous close and open were at $111.64 and $111.51, respectively. The trailing twelve months (ttm) price-to-earnings ratio (P/E) is 3.47, indicating that it is undervalued, and the earnings per share (EPS) in a similar time frame is $32.58. The 52-week change is reported to swell by 27.46%.
With an average volume of 3.99 Million shares, the market cap is $48.607 Billion. Analysts placed the price target at $142.77 with an upside of 26.3%, giving a 2.83 rating for moderate buy. CCL’s share price dropped 11.03% in the last three months and 3.18% in six months. In the previous year, the share price plummeted by 31.59%.
Source: MarketBeat; MPC
The last earnings were reported on May 2, 2023, where revenue was said to be $35.077 Billion. The value beat the consensus estimate of $33.181 Billion by 5.71%, placing the surprise at $1.896 Billion; despite this positive report, the share price dropped by nearly 15%. Quarterly change in revenue saw a drop of 8.67% to $34.94 Billion, and the revenue (ttm) is said to be $174.92 Billion.
The revenue per share (ttm) is $362.90, and the quarterly revenue growth year-over-year (YoY) dropped by 8.70%. The company’s operating expenses are up by 7.60% to $1.70 Billion, while the profit margin increased by 12.63%. The profit margin grew by 9.37%, and the net profit margin increased by 252.94% to 7.80.
The total cash in hand at the end of the most recent quarter (mrq) is $11.45 Billion, and the total debt in a similar time frame is $28.54 Billion.
Marathon Petroleum Corp. (MPC Stock) – Candle Exploration
MPC’s share price has been in an ascending channel since September 2022, indicating strong growth. But just before the earnings, a breakthrough made the current price brush the now flat 200 EMA. The price is expected to consolidate between R1 and S1, forming a base. Market variables would then decide further movement.
For entering a bullish momentum, the price action must beat R1, now acting as a strong resistance. If the price goes south and crosses S1, S2 should serve as the following line of defence.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/27/mpc-stock-will-crude-prices-rally-after-wagner-drama/