Marathon Petroleum Corp. shares advanced 1.28% to $62.34 Thursday. This proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 0.58% to 4,266.49 and the Dow Jones Industrial Average DJIA rising 0.95% to 34,196.82.
Marathon Petroleum Corp. closed $2.50 short of its 52-week high ($64.84), which the company achieved on June 10th.The stock outperformed some of its competitors Thursday, as Exxon Mobil Corp. XOM rose 0.40% to $64.52, Chevron Corp. CVX rose 0.82% to $107.14, and BP PLC ADR BP rose 0.33% to $27.32.trading volume (2.6 M) remained 4.8 million below its 50-day average volume of 7.4 M.This was the stock’s fourth consecutive day of gains. Marathon Petroleum shares gained 1.2840% to end trading Thursday at $62.34 per share – a net change of $0.79. Shares traded between $62.50 and $61.44 throughout the day.
Marathon Petroleum Corp also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. Marathon laid off 1,920 workers across the U.S. despite taking $2.1 billion in federal tax benefits meant to cushion the pandemic’s blow to the economy.