Marathon Petroleum Corp. slid 0.52% to $63.34 Monday, on what proved to be an all-around poor trading session for the Stock market, with the S&P 500 Index SPX falling 0.08% to 4,226.52 and Dow Jones Industrial Average DJIA falling 0.36% to 34,630.24.
Marathon Petroleum Corp. closed $0.54 short of its 52-week high ($63.88), which the company achieved on June 4th. Despite its losses, the Stock outperformed some of its competitors Monday, as Exxon Mobil Corp. XOM fell 0.65% to $61.05, Chevron Corp. CVX fell 0.65% to $107.75, and BP PLC ADR BP fell 0.66% to $27.26.Marathon Petroleum Corp trading volume (5.9 M) remained 880,426 below its 50-day average volume of 6.8 M. The Stock fall snapped a seven-day winning streak. Independent oil refiner and marketer Marathon Petroleum reported an adjusted loss of 20 cents per share, narrower than the Zacks Consensus Estimate of a loss of 72 cents.
The refining margin of $10.16 per barrel decreased from $11.86 a year ago. Total refined product sales volumes were 3,067 thousand barrels per day down from the 3,588 mbpd in the year-ago quarter. Moreover, throughput fell from 2,994 mbpd in the year-ago quarter to 2,565 mbpd though it beat the Zacks Consensus Estimate of 2,509 mbpd. Capacity utilization during the quarter was down from last year’s 91% to 83%.
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