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Ohio based Marathon Petroleum Corp Shares Performs Better

Ohio Based Marathon Petroleum Corp. shares advanced 3.76% to $54.08 Wednesday. This proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX rising 0.82% to 4,358.69 and the Dow Jones Industrial Average DJIA rising 0.83% to 34,798.00.

Marathon Petroleum Corp. closed $10.76 short of its 52-week high ($64.84), which the company reached on June 10th. The stock outperformed some of its competitors Wednesday, as Exxon Mobil Corp. XOM rose 3.22% to $57.76, Chevron Corp. CVX rose 3.41% to $99.82, and BP PLC ADR BP rose 3.46% to $23.91.

Marathon Petroleum Corp trading volume (5.7 M) remained 1.8 million below its 50-day average volume of 7.5 M.This was the stock’s second consecutive day of gains. Marathon Petroleum is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation’s largest refining system. MPC’s marketing system includes branded locations across the United States, including Marathon brand retail outlets.

Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the United States. MPC 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. In the last trading session, 5.64 million shares of Marathon Petroleum were traded, and its beta was 2.16. Most recently the company’s share price was $52.12, and it changed around $1.24 or 2.44% from the last close, which brings the market valuation of the company to $34.65B. MPC currently trades at a discount to its 52-week high of $64.84, offering almost -24.41% off that amount.

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