Marathon Petroleum Corp. shares shed 1.59% to $57.40 Tuesday. This proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX falling 0.35% to 4,369.21 and Dow Jones Industrial Average DJIA falling 0.31% to 34,888.79.
Marathon Petroleum Corp. closed $7.44 below its 52-week high ($64.84), which the company achieved on June 10th. The stock underperformed when compared to some of its competitors Tuesday, as Exxon Mobil Corp. XOM fell 0.47% to $60.88, Chevron Corp. CVX fell 0.34% to $103.93, and BP PLC ADR BP fell 1.16% to $25.58.
Marathon Petroleum Corp trading volume (4.9 M) remained 2.6 million below its 50-day average volume of 7.5 M.This was the stock’s second consecutive day of losses. 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. 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.
Marathon Petroleum today announced the final results of its modified Dutch auction tender offer, which expired at midnight, New York City time, at the end of the day on June 14, 2021. Based on the final count by Computershare Trust Company, N.A., the depositary for the tender offer, 15,573,364 shares of MPC’s common stock were validly tendered and not validly withdrawn at or below the final purchase price of $63.00 per share, including shares that were tendered through notices of guaranteed delivery.