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MPLX LP (NYSE:MPLX), a $51.7 billion market cap company with strong financial health according to InvestingPro analysis, announced Monday that Ray N. Walker, Jr. has been elected to its board of directors, following a decision by the board of managers of MPC Investment LLC, the sole member of MPLX GP LLC, the general partner of MPLX LP . The appointment increases the size of the general partner’s board to eleven members, effective Monday.
According to the company’s press release statement, Mr. Walker will also serve on the audit committee and the conflicts committee of the board. As a non-management director, he will receive compensation in line with the other non-management directors. The terms of this compensation were previously disclosed in MPLX LP’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 27, 2025.
The information in this article is based on a statement provided in a recent SEC filing.
In other recent news, MPLX LP reported its second-quarter earnings for 2025, slightly missing analyst expectations. The company posted an earnings per share (EPS) of $1.03, which was below the forecasted $1.06, and reported revenue of $3 billion, falling short of the expected $3.18 billion. Despite this earnings miss, Stifel raised its price target for MPLX to $60 from $57, maintaining a Buy rating on the stock, citing confidence in the partnership’s growth trajectory. Additionally, MPLX announced the election of Ray N. Walker, Jr. to the board of directors of MPLX GP LLC, the general partner of MPLX. Walker has a notable background, having served as chief operating officer of Encino Energy and Range Resources Corporation. These developments come as investors closely watch MPLX’s strategic decisions and financial performance.
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