Houston based Marathon Petroleum Corp. shares slipped 3.44% to $58.97 Tuesday. This proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX falling 0.20% to 4,343.54 and Dow Jones Industrial Average DJIA falling 0.60% to 34,577.37.
Marathon Petroleum Corp. closed $5.87 below its 52-week high ($64.84), which the company achieved on June 10th.The stock demonstrated a mixed performance when compared to some of its competitors Tuesday, as Exxon Mobil Corp. XOM fell 2.85% to $61.37, Chevron Corp. CVX fell 1.96% to $103.99, and BP PLC ADR BP fell 3.74% to $25.97.
Last month, Marathon Petroleum completed the sale of its Speedway business of about 3,900 stores in 35 states to Japanese retail group Seven & I Holdings, owner of the 7-Eleven convenience store chain, for $ 21 billion. However, the decision to acquire multiple Speedway filling stations for the 7-Eleven was illegal and created difficulties in several local markets in the United States, according to two leading FTC experts.