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Evan Bayh, a director at Marathon Petroleum Corp (NYSE:MPC), recently purchased 1,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The timing is notable as the stock is currently trading near its 52-week low, having declined over 8% in the past week. According to InvestingPro analysis, the company appears undervalued based on its Fair Value model. The shares were acquired at a price of $133.70 each, totaling approximately $133,700. Following this transaction, Bayh’s direct ownership in the company increased to 69,304.999 shares. The transaction took place on March 5, 2025, and was reported on March 7, 2025. The purchase comes as Marathon Petroleum, with a market capitalization of $43 billion and a P/E ratio of 13.6, maintains its position as a prominent player in the Oil, Gas & Consumable Fuels industry. For deeper insights into insider trading patterns and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Marathon Petroleum Corp. reported fourth-quarter earnings that exceeded analyst expectations, with adjusted earnings per share reaching $0.77 compared to the projected $0.62. Revenue for the quarter was $33.47 billion, surpassing the expected $33.23 billion, though it represented a 14.5% decline from the previous year’s $39.16 billion. The company recorded a net income of $371 million, or $1.15 per diluted share, down from $1.5 billion, or $3.84 per diluted share, in the same quarter of 2023. For the full year 2024, net income was $3.4 billion, a decrease from $9.7 billion in 2023.
Additionally, Marathon Petroleum entered into an underwriting agreement with Wells Fargo (NYSE:WFC) Securities, Citigroup (NYSE:C) Global Markets, and MUFG Securities Americas. This agreement led to the issuance of a Tenth Supplemental Indenture with The Bank of New York Mellon (NYSE:BK) Trust Company as Trustee. The specific terms of the notes related to this agreement, such as interest rates and maturity dates, remain undisclosed. Furthermore, the company is advancing its Midstream Gulf Coast NGL strategy through its MPLX (NYSE:MPLX) subsidiary, which plans to develop a fractionation complex and export terminal. Marathon Petroleum anticipates that distributions from MPLX in 2025 will support its dividends and capital outlook.
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