Company profile

Ticker
MPC
Exchange
CEO
Michael J. Hennigan
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
271284632

MPC stock data

(
)

Calendar

3 Aug 20
13 Aug 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Jun 20 Mar 20 Dec 19 Sep 19
Revenue 15.02B 25.22B 31.09B 31.04B
Net income 276M -10.22B 262M 1.37B
Diluted EPS 0.01 -14.25 0.68 1.66
Net profit margin 1.84% -40.52% 0.84% 4.40%
Operating income 981M -11.82B 841M 2.02B
Net change in cash -599M 163M 2M 278M
Cash on hand 1.09B 1.69B 1.53B 1.53B
Cost of revenue 13.78B 22.82B 27.3B 27.3B
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 123.95B 96.5B 74.73B 63.28B
Net income 3.26B 3.61B 3.8B 1.21B
Diluted EPS 3.97 5.28 6.7 2.21
Net profit margin 2.63% 3.74% 5.09% 1.92%
Operating income 5.58B 5.57B 4.02B 2.39B
Net change in cash -160M -1.32B 2.12B -240M
Cash on hand 1.53B 1.69B 3.01B 887M
Cost of revenue 110.24B 86.07B 67.09B 56.68B

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
31 Jul 20 Marathon Petroleum Common Units (Limited Partner Interests) Sale back to company Dispose D No 0 18,582,088 0 647,415,452
31 Jul 20 Marathon Petroleum Common Units (Limited Partner Interests) Sale back to company Dispose D No 0 18,582,088 0 647,415,452
1 Jul 20 Michael J Hennigan Common Stock Payment of exercise Dispose F No 36.76 1,102 40.51K 339,887
1 Jul 20 Michael J Hennigan Common Stock Payment of exercise Dispose F No 36.76 4,956 182.18K 340,989
1 Jul 20 Khayyal Abdulaziz Fahd Al Common Stock Grant Aquire A No 0 1,103.559 0 12,018.88
1 Jul 20 Bayh Evan Common Stock Grant Aquire A No 0 1,103.559 0 47,171.767
73.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 868 1128 -23.0%
Opened positions 73 182 -59.9%
Closed positions 333 113 +194.7%
Increased positions 287 362 -20.7%
Reduced positions 384 426 -9.9%
13F shares
Current Prev Q Change
Total value 11.34B 30.43B -62.7%
Total shares 478.04M 501.44M -4.7%
Total puts 8.56M 13.98M -38.7%
Total calls 21.05M 36.09M -41.7%
Total put/call ratio 0.4 0.4 +5.0%
Largest owners
Shares Value Change
BLK BlackRock 59.11M $1.4B +2.5%
Vanguard 55.83M $1.32B +3.6%
STT State Street 34.89M $823.99M +7.7%
JPM JPMorgan Chase & Co. 14.18M $334.96M -9.6%
Wellington Management 12.57M $296.89M +14.5%
Boston Partners 11.87M $280.09M -30.2%
MS Morgan Stanley 11.67M $275.64M +40.7%
BK Bank of New York Mellon 10.7M $252.67M -3.4%
Elliott Investment Management 9.67M $228.41M NEW
Geode Capital Management 9.35M $220.27M +0.9%
Largest transactions
Shares Bought/sold Change
Elliott Investment Management 9.67M +9.67M NEW
Stonington Management 0 -9.65M EXIT
Norges Bank 0 -7M EXIT
Boston Partners 11.87M -5.13M -30.2%
DB Deutsche Bank 5.86M +3.84M +190.7%
Causeway Capital Management 0 -3.67M EXIT
BAC Bank of America 4.74M -3.52M -42.6%
MS Morgan Stanley 11.67M +3.38M +40.7%
Ceredex Value Advisors 5.91M +3.3M +126.4%
Whitebox Advisors 4.48M +2.97M +196.7%

Financial report summary

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Risks
  • Our financial results are affected by volatile refining margins, which are dependent on factors beyond our control.
  • Legal, technological, political and scientific developments regarding emissions and fuel efficiency may decrease demand for transportation fuels.
  • Our operations are subject to business interruptions and casualty losses. Failure to manage risks associated with business interruptions could adversely impact our operations, financial condition, results of operations and cash flows.
  • We do not insure against all potential losses, and, therefore, our business, financial condition, results of operations and cash flows could be adversely affected by unexpected liabilities and increased costs.
  • We rely on the performance of our information technology systems, and the interruption or failure of any information technology system, including an interruption or failure due to a cybersecurity breach, could have an adverse effect on our business, financial condition, results of operations and cash flows.
  • Competition in our industry is intense, and very aggressive competition could adversely impact our business.
  • We are subject to interruptions of supply and increased costs as a result of our reliance on third-party transportation of crude oil and refined products.
  • Our investments in joint ventures decrease our ability to manage risk.
  • Our inventory risk management activities may result in substantial derivative variability or losses.
  • We have significant debt obligations; therefore, our business, financial condition, results of operations and cash flows could be harmed by a deterioration of our credit profile, a decrease in debt capacity or unsecured commercial credit available to us, or by factors adversely affecting credit markets generally.
  • Uncertainty relating to the calculation of LIBOR and other reference rates and their potential discontinuance may adversely affect interest expense related to our outstanding debt.
  • Historic or current operations could subject us to significant legal liability or restrict our ability to operate.
  • A portion of our workforce is unionized, and we may face labor disruptions that could materially and adversely affect our business, financial condition, results of operations and cash flows.
  • One of our subsidiaries acts as the general partner of a master limited partnership, which may involve a greater exposure to certain legal liabilities than existed under our historic business operations.
  • If foreign investment in us or MPLX exceeds certain levels, MPLX could be prohibited from operating inland river vessels, which could materially and adversely affect our business, financial condition, results of operations and cash flows.
  • We are subject to certain continuing contingent liabilities of Marathon Oil pursuant to agreements we entered into in connection with our spinoff from Marathon Oil, which could materially and adversely affect our business, financial condition, results of operations and cash flows.
  • A significant decrease in oil and natural gas production in MPLX’s areas of operation, whether due to sustained declines in oil, natural gas and NGL prices, natural declines in well production, or otherwise, may adversely affect MPLX’s business, results of operations and financial condition, and could reduce its ability to make distributions to us.
  • Significant stockholders may attempt to effect changes at our company or acquire control over our company, which could impact the pursuit of business strategies and adversely affect our results of operations and financial condition.
  • Our operations could be disrupted if we are unable to maintain or obtain real property rights required for our business.
  • Certain of our facilities are located on Native American tribal lands and are subject to various federal and tribal approvals and regulations, which may increase our costs and delay or prevent our efforts to conduct planned operations.
  • RISKS RELATING TO STRATEGIC TRANSACTIONS
  • Our proposed spinoff of Speedway may not be completed on the currently contemplated timeline or at all and may not achieve the intended benefits.
  • If the proposed spinoff of Speedway were to fail to qualify as a transaction that is generally tax-free for U.S. federal income tax purposes, MPC and MPC shareholders could be subject to significant tax liabilities.
  • Our ongoing review of other strategic alternatives for our Midstream business may pose additional risks to our business.
  • Significant acquisitions, if any, in the future will involve the integration of new assets or businesses and present substantial risks that could adversely affect our business, financial conditions, results of operations and cash flows.
  • The Andeavor acquisition may not be accretive, and may be dilutive, to MPC’s earnings per share and cash flow from operations per share, which may negatively affect the market price of shares of MPC common stock.
  • MPC has incurred and will continue to incur significant costs in connection with the Andeavor acquisition, which may be in excess of those anticipated by MPC.
  • MPC’s results may suffer if it does not effectively manage its expanded operations following the Andeavor acquisition.
  • MPC may fail to realize all of the anticipated benefits of the Andeavor acquisition.
  • We have recorded goodwill and other intangible assets that could become further impaired and result in material non-cash charges to our results of operations.
  • Meeting the requirements of evolving environmental or other laws or regulations may reduce our refining and marketing margin and may result in substantial capital expenditures and operating costs that could materially and adversely affect our business, financial condition, results of operations and cash flows.
  • Climate change and greenhouse gas emission regulation could affect our operations, energy consumption patterns and regulatory obligations, any of which could affect our results of operations and financial condition.
  • Regulatory and other requirements concerning the transportation of crude oil and other commodities by rail may cause increases in transportation costs or limit the amount of crude oil that we can transport by rail.
  • Severe weather events and other climate conditions may adversely affect our facilities and ongoing operations.
  • Plans we may have to expand existing assets or construct new assets are subject to risks associated with societal and political pressures and other forms of opposition to the future development, transportation and use of carbon-based fuels. Such risks could adversely impact our business and ability to realize certain growth strategies.
  • Large capital projects can take many years to complete, and market conditions could deteriorate significantly between the project approval date and the project startup date, negatively impacting project returns. If we are unable to complete capital projects at their expected costs and in a timely manner, or if the market conditions assumed in our project economics deteriorate, our business, financial condition, results of operations and cash flows could be materially and adversely affected.
  • The availability of crude oil and increases in crude oil prices may reduce profitability and refining and marketing margins.
  • We are subject to risks arising from our non-U.S. operations and generally to worldwide political and economic developments.
  • Compliance with and changes in tax laws could materially and adversely impact our financial condition, results of operations and cash flows.
  • Terrorist attacks aimed at our facilities or that impact our customers or the markets we serve could adversely affect our business.
  • Provisions in our corporate governance documents could operate to delay or prevent a change in control of our company, dilute the voting power or reduce the value of our capital stock or affect its liquidity.
Management Discussion
  • Net income (loss) attributable to MPC decreased $1.10 billion in the second quarter of 2020 compared to the second quarter of 2019 largely due to a decrease in refined product sales volumes and prices, primarily driven by the effects of COVID-19 and the decline in commodity prices, partially offset by an LCM benefit of $1.48 billion recognized during the quarter.
  • Revenues and other income decreased $18.47 billion primarily due to:
  • Costs and expenses decreased $17.41 billion primarily due to:
Content analysis ?
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