Marathon Petroleum Corp. shares +0.99% inched 0.99% higher to $61.40 Thursday. This proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +0.12% rising 0.12% to 4,200.88 and the Dow Jones Industrial Average DJIA, +0.41% rising 0.41% to 34,464.64. This is the second day of continuous gain.
Marathon Petroleum Corp. closed $0.55 short of its 52-week high ($61.95), which the company achieved on May 14th.The stock outperformed some of its competitors Thursday, as Exxon Mobil Corp. XOM, -0.64% fell 0.64% to $58.56, Chevron Corp. CVX, -1.07% fell 1.07% to $103.01, and BP PLC ADR BP, -0.11% fell 0.11% to $26.28. Trading volume (11.3 M) eclipsed its 50-day average volume of 6.8 M.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. Marathon Petroleum Corp meets this criterion too, as the stock gained 8.4% over the past 12 weeks. Moreover, the momentum is fast-paced, as the stock currently has a beta of 2.17. This indicates that the stock moves 117% higher than the market in either direction.