Broadcom named strategic vendor for Walmart virtualization solutions
Ricky D. Hessling, the Chief Commercial Officer of Marathon Petroleum Corp (NYSE:MPC), recently purchased 2,000 shares of the company’s common stock. The shares were acquired on March 11, 2025, at a price of $134.72 per share, amounting to a total transaction value of $269,440. The purchase comes as the stock trades near its 52-week low, with InvestingPro analysis suggesting the company is currently undervalued. Following this purchase, Hessling holds 12,162 shares directly. Additionally, a small fraction of shares is held indirectly through a 401(k) plan. The $42.86B market cap company maintains a healthy 2.65% dividend yield and trades at a P/E of 13.6x, with management actively buying back shares. For deeper insights into MPC’s valuation and 10+ additional ProTips, check out the comprehensive Pro Research Report on InvestingPro.
In other recent news, Marathon Petroleum Corp. reported fourth-quarter earnings that exceeded analyst projections, with adjusted earnings per share reaching $0.77, surpassing the consensus estimate of $0.62. The company also reported revenue of $33.47 billion, slightly above the expected $33.23 billion, although this represented a 14.5% decrease from the previous year. Net income for the quarter was $371 million, or $1.15 per diluted share, a significant drop from $1.5 billion, or $3.84 per diluted share, in the same period the previous year. For the full year 2024, Marathon Petroleum’s net income was $3.4 billion, down 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, as outlined in a recent SEC filing. The agreement is accompanied by a Tenth Supplemental Indenture with The Bank of New York Mellon (NYSE:BK) Trust Company, N.A. as Trustee. This strategic financial maneuver, along with the company’s Midstream Gulf Coast NGL strategy, including plans for a fractionation complex and export terminal through its MPLX (NYSE:MPLX) subsidiary, reflects ongoing efforts to strengthen its financial structure. Analysts and investors are closely monitoring these developments, as they could influence Marathon Petroleum’s future capital raising and competitive positioning in the energy sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.