The largest refiner in the US is Marathon Petroleum Corporation. It has the capacity to refine more than 3 million barrels per day. Marathon Corporation’s market capitalization was above 39 billion in May 2021. It is among the 200 largest public companies in the world and also part of the Fortune 500 list. Oil is considered to be a commodity and the various stimulus packages by central governments around the world have built up expectations of higher inflation. Commodity prices across the board have been on the rise. Oil prices have also stabilized above the $60 mark. Investors may want to look for the best oil and gas stocks to invest in as the recent few weeks have seen momentum building up in commodity stocks.
Marathon Reports Q12021 Earnings Results
Marathon Petroleum Corporation reported its first-quarter 2021 earnings results in early May 2021. The adjusted loss per share was $0.2 as compared to $0.16 in the first quarter of 2020. However, net income went from a loss of $10.2 billion to a positive number of $64 million. The capacity utilization was 83% during Q12021 and the refining & marketing income came in at negative $598 million. Sequentially, the refining & marketing income improved from a $1.5 billion loss in 4Q2020 to negative $598 million. According to Marathon’s management, the reduced economic activity around the world due to the pandemic continues to negatively impact the demand for fuels and other Marathon products. Investors looking for the top oil and gas stocks to invest in will want to look at the future outlook to better gauge the investment opportunity in the sector.
Best Oil And Gas Stocks To Invest In
Marathon Petroleum Corporation’s stock has been on an uptrend over recent weeks. It closed at $60.33 on 18th May 2021 and is up 12.9% over the preceding month. Year-to-date, the price has gained an impressive 48%.