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Petroleum Stocks Outperforms

The Shares of Marathon Petroleum Corp. has inched 0.56% higher to $58.97 Wednesday. This proved to be an all-around dismal trading session for the Stocks market, with the S&P 500 Index SPX falling 2.14% to 4,063.04 and Dow Jones Industrial Average DJIA falling 1.99% to 33,587.66. The stock’s rise snapped a two-day losing streak.

Marathon Petroleum Corp. closed $2.14 short of its 52-week high of $61.11 which the company achieved on May 10th. The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Exxon Mobil Corp. XOM rose 0.54% to $60.04, Chevron Corp. CVX rose 0.63% to $107.37, and BP PLC ADR BP rose 0.85% to $26.19. Trading volume (7.5 M) eclipsed its 50-day average volume of 5.9 M.

The Shares of Occidental Petroleum Corp. OXY advanced 2.41% to $25.12 Wednesday. This proved to be an all-around poor trading session for the stock market, with the S&P 500 Index SPX falling 2.14% to 4,063.04 and Dow Jones Industrial Average DJIA falling 1.99% to 33,587.66. The stock’s rise snapped a two-day losing streak. Occidental Petroleum Corp. closed $7.40 short of its 52-week high ($32.52), which the company reached on March 5th.

Marathon Petroleum Corp. has announced that it will pay a dividend of US$0.58 per share on the 10th of June. This means that the annual payment will be 4.0% of the current stock price, which is in line with the average for the industry.

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