Marathon Petroleum Corp.NYSE
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  • Yesterday, 5:36 PM
    • Top gainers, as of 5.25 p.m.: VAR +3.1%. ECA +2.5%. LC +2.3%. VNOM +2.1%. ES +1.8%.
    • Top losers, as of 5.25p.m.: CLS -8.4%. TDW -8.0%. MPC -2.3%. ALR -1.9%. SGY -1.6%.
    | Yesterday, 5:36 PM
  • Mon, Oct. 17, 5:18 PM
    • Construction equipment for the Dakota Access oil pipeline sustained ~$2M in damage in an intentionally set fire over the weekend in Iowa.
    • The Jasper County Sheriff's office said the fire occurred late Saturday near the town of Reasnor, Iowa, near the site of an equipment fire in August along the 1,100-mile pipeline route, which is planned to carry oil from North Dakota to the U.S. Gulf coast.
    • Opposition to the $3.7B pipeline has been increasing, and construction of one section in North Dakota has been halted in response to protests by the Standing Rock Sioux tribe and environmental activists and is under federal review.
    • Relevant tickers: ETP, SXL, PSX, MPC, ENB, EEP
    | Mon, Oct. 17, 5:18 PM | 72 Comments
  • Thu, Oct. 13, 3:51 PM
    • Dividend strategies in general have done well this year, and dividend growth has outperformed since interest rates began their sharp rise in late summer.
    • Evercore's Ahbra Banerji suggests even better returns by adding a screen for low payout ratios. Banerji and team tested large-caps, mid-caps, and small-caps, and found combining dividend yield, payout ratio, and growth outperformed simpler dividend strategies.
    • His top picks using that troika: VF Corp (NYSE:VFC), with a 2.6% yield and 53.4% payout ratio; Tiffany (NYSE:TIF) 2.3% yield and 48.2% payout ratio; Marathon Petroleum (NYSE:MPC) 3.3% yield and 36.3% payout ratio; Phillips 66 (NYSE:PSX) 3% yield and 41.1% payout ratio; BB&T 3% and 42.7% payout ratio.
    | Thu, Oct. 13, 3:51 PM | 6 Comments
  • Thu, Oct. 13, 12:44 PM
    • Bernie Sanders is one of five U.S. senators calling on Pres. Obama to order a comprehensive environmental review of the Dakota Access pipeline project that has stoked increasingly fierce opposition from Native Americans and environmental activists; experts say such a review could take several months.
    • "The project’s current permits should be suspended and all construction stopped until a complete environmental and cultural review has been completed for the entire project," says the letter from Sens. Sanders, Feinstein, Markey, Leahy and Cardin.
    • The $3.7B project is being built by the Dakota Access subsidiary of Energy Transfer Partners (ETP -0.2%), which has vowed to complete construction; other relevant tickers are SXL, PSX, MPC, ENB, EEP.
    | Thu, Oct. 13, 12:44 PM | 157 Comments
  • Thu, Oct. 13, 9:11 AM
    • As the new threat of Amazon tiptoes into the $575B convenience store industry, GasBuddy puts it into perspective.
    • CEO Walt Doyle tells Seeking Alpha that 80% of U.S convenience store sell gasoline. Those 124,374 stores have a clear advantage over a brick-and-mortar play by Amazon.
    • "Gas station convenience stores have evolved to providing more amenities and products like groceries and food, to fit the growing needs of the consumer," he notes.
    • Major c-store operators in the U.S. include Kroger (NYSE:KR), Casey's General Stores (NASDAQ:CASY), CST Brands (NYSE:CST), Alimentation Couche-Tard (OTCPK:ANCUF), Murphy USA (NYSE:MUSA), Marathon Petroleum (NYSE:MPC), 7-Eleven, Kum & Go, QuikTrip and Sunoco (NYSE:SUN).
    • Previously: Amazon threat lingers over C-stores, drug stores and grocery chains (Oct. 11)
    | Thu, Oct. 13, 9:11 AM | 1 Comment
  • Tue, Oct. 11, 7:27 PM
    • BP says it will vigorously defend itself against a federal civil suit by Marathon Petroleum (NYSE:MPC), dismissing MPC's allegations as an attempt to renegotiate the terms of the Texas City refinery purchase of nearly four years ago.
    • MPC took control of the 459K bbl/day refinery and terminals when the transaction closed on Feb. 1, 2013, and began finding problems that breached the sale agreement, according to the lawsuit it filed on Monday.
    • BP says it spent billions of dollars in the years before the sale to upgrade the Texas City refinery.
    | Tue, Oct. 11, 7:27 PM | 11 Comments
  • Tue, Oct. 11, 5:57 PM
    • MPLX says its newly constructed Cornerstone Pipeline in northeastern Ohio is now fully operational, which the company says in the initial step in its plan to provide better connectivity to the Utica Shale.
    • The new 50-mile pipeline connects origination facilities in Harrison County, Ohio, to a tank farm in East Sparta, where condensate and natural gasoline can then continue to Marathon Petroleum's (NYSE:MPC) 93K bbl/day refinery in Canton.
    • MPLX also says it is constructing or expanding additional pipelines to provide further distribution to the midwest and Canada, with completion on the projects expected next year.
    | Tue, Oct. 11, 5:57 PM
  • Tue, Oct. 11, 3:25 PM
    • Oil refiners have lagged to the point that “value signals are getting investors interested," Credit Suisse says while cautioning that it wants to see global product inventories drawn down before buying shares, and the process is only just getting started.
    • Nevertheless, the firm upgrades Tesoro (TSO +0.8%) and Alon USA Energy (ALJ +2.4%) to Outperform from Neutral, joining Marathon Petroleum (MPC -1.1%) and Western Refining (WNR +0.5%) as its favorites names in the group, while stressing that November-January is the typical entry point.
    • Meanwhile, Credit Suisse downgrades PBF Energy (PBF -4.3%) and Delek USA (DK -3.6%) to Neutral; PBF has the largest macro sensitivity to refining and RINs, which are depressing PBF earnings at a time when net debt has been elevated after the Torrance and Chalmette acquisition, the firm notes.
    | Tue, Oct. 11, 3:25 PM
  • Tue, Oct. 11, 2:19 PM
    • Energy Transfer Partners (ETP -1.5%) says it expects to receive federal approval soon to complete the Dakota Access oil pipeline following Sunday's federal appeals court ruling that reaffirmed a lower court decision in September denying an injunction sought by the Standing Rock Sioux tribe.
    • The lead company building the controversial project says it is confident that the only remaining approval it needs - a permit to allow the pipeline to cross the Missouri River - will be granted soon by the Army Corp of Engineers.
    • ETP says the latest ruling frees it to continue building the pipeline in an area extending 20 miles on either side of the Missouri River.
    • Other relevant tickers: SXL, PSX, MPC, ENB, EEP
    | Tue, Oct. 11, 2:19 PM | 50 Comments
  • Tue, Oct. 11, 12:15 PM
    • Marathon Petroleum (MPC -0.1%) says BP (BP -2.1%) failed to deliver a Texas oil refinery and three products terminals as promised in a $2.4B deal signed in 2012, according to a federal lawsuit.
    • MPC took over the 459K bbl/day Texas City refinery and terminals when the transaction closed on Feb. 1, 2013, and began finding problems that breached the sale agreement, the lawsuit says.
    • MPC also alleges BP failed to maintain process safety information on 3,756 pressure vessels at the refinery, and failed to fulfill a promise to overhaul an aromatics recovery unit prior to the sale completion.
    | Tue, Oct. 11, 12:15 PM | 8 Comments
  • Mon, Oct. 10, 5:28 PM
    • The U.S. Army Corps of Engineers says is not yet authorizing construction of the Dakota Access pipeline on federal land in southern North Dakota, and is reiterating its earlier request for pipeline owner Energy Transfer Partners (NYSE:ETP) to voluntarily stop work on private land in the area.
    • The Corps' statement follows yesterday's federal appeals court ruling that allowed construction to resume on the pipeline within 20 miles of Lake Oahe, which set off large protests today at two construction sites in North Dakota.
    • The U.S. Justice Department, Interior Department and the Corps also say they are still reviewing the need to reforms in the way tribal views are considered for such projects.
    • Other relevant tickers: SXL, PSX, MPC, ENB, EEP
    | Mon, Oct. 10, 5:28 PM | 85 Comments
  • Mon, Oct. 10, 10:39 AM
    • The D.C. Circuit Court of Appeals Sunday night rejected a Native American tribe's attempt to block construction of the Dakota Access pipeline, denying an injunction because it said the tribe did not meet the legal standards for such a maneuver.
    • Although work may resume within a 20-mile radius of Lake Oahe, the Department of Justice and other U.S. agencies continue to halt construction on federal and adjacent to Lake Oahe and has requested a voluntary halt on private lands.
    • The Standing Rock Sioux tribe sought the injunction under the National Historic Preservation Act, arguing that places of cultural and religious significance to the tribe would be harmed by construction.
    • Relevant tickers: ETP, SXL, PSX, MPC, ENB, EEP
    | Mon, Oct. 10, 10:39 AM | 45 Comments
  • Thu, Sep. 29, 2:03 PM
    | Thu, Sep. 29, 2:03 PM | 38 Comments
  • Wed, Sep. 28, 3:19 PM
    • The energy sector (XLE +4%) bursts to the top of the leaderboard after OPEC announces a planned production cut to 32.5M bbl/day at the informal OPEC meeting in Algiers.
    • Among individual energy stocks: XOM +3.8%, CVX +2.7%, RDS.A +2.8%, BP +3.4%, TOT +2.4%, PBR +4.5%, COP +6.4%, MRO +8%, MPC +1.4%, PSX +1.9%, VLO -0.1%, EOG +6.2%, PXD +6.4%, OXY +4.5%, DVN +7.9%, CLR +8.3%, APA +6.2%, NOV +8.1%, SLB +3.3%, BHI +3.6%, HAL +4.3%, KMI +3.4%, ENB +2.6%, EPD +1.9%, ETP +2.9%.
    | Wed, Sep. 28, 3:19 PM | 74 Comments
  • Mon, Sep. 26, 2:12 PM
    • Tesoro (NYSE:TSO), along with Marathon Petroleum (NYSE:MPC), remains one of only two Buy ratings among independent refiners at BofA Merrill Lynch, even while the firm remains cautious on the sector.
    • BofA analyst Doug Leggate believes TSO's marketing business deserves a 3x multiple uplift and that the market is ignoring the prospects of the business.
    • Leggate also expects TSO to display improved operating margins vs. peers for Q3 on a reversal of seasonal margin trends, as the firm raises its price target on the shares to $109 from $95.
    | Mon, Sep. 26, 2:12 PM | 1 Comment
  • Tue, Sep. 13, 9:19 AM
    • Marathon Petroleum (NYSE:MPC) says a contractor working at its Galveston Bay refinery in Texas was killed yesterday in the collapse of scaffolding under construction at a dock in the port of Texas City.
    • The worker reportedly was tied on to the section of scaffolding that collapsed and fell into the water shortly after 11 a.m.; four other workers on the scaffold were not injured.
    | Tue, Sep. 13, 9:19 AM | 5 Comments