Much of the energy sector has ignored this bear market. Does that bode well for Marathon Petroleum stock in 2023?
Marathon Petroleum Corp.(NYSE: MPC) is a leading global energy company that has been in the industry since its founding in 1887.
The company operates through its four segments:
- Refining and Marketing.
- Speedway.
- Midstream.
- And Asphalt and Specialty Products.
Marathon Petroleum stock is a publicly traded company, and in this blog post we’ll provide an overview of its current business.
We’ll also see what investors can expect from the company in 2023 using our proprietary Stock Power Ratings system.
Refining and Marketing Segment
The Refining and Marketing segment is responsible for refining crude oil into refined products such as gasoline, diesel fuel, jet fuel, petrochemicals and other related products.
This segment also markets these products through wholesale and retail channels around the world.
MPC has six refineries across North America with a combined capacity of more than 3 million barrels per day.
Speedway Segment
The Speedway segment operates convenience stores and gas stations across the United States under the Speedway brand name.
In 2019, Marathon Petroleum acquired 762 Speedway locations from Hess Corp. for $2.8 billion which increased their total number of stores to more than 4,000.
The Speedway segment also offers food items including to-go options such as sandwiches and salads.
Midstream Segment
The Midstream segment is responsible for transporting crude oil and other refined products throughout North America via pipelines and trucks.
In 2020, MPC completed construction of their 2nd major pipeline in Ohio known as “The Utica East Ohio Pipeline” which has a capacity of 1 million barrels per day.
It also have several other pipeline projects currently underway which will expand its overall capacity even further.
Asphalt and Specialty Products Segment
The Asphalt and Specialty Products segment produces asphalt and specialty chemicals used in various industries such as paper production or petroleum refining processes.
MPC operates seven asphalt plants located throughout North America with an annual production capacity of 9 million tons per year.
Additionally it is involved in the production and distribution of propane throughout North America as well as butane blending services in Canada.
Does all of this add up to an investable company with Marathon Petroleum stock? Let’s see what our proprietary system says.
Marathon Stock Power Ratings
Marathon stock rates a “Bullish” 80 out of 100. That means our system expects the stock to outperform the broader market by 2X over the next 12 months!
MPC’s Stock Power Ratings in January 2023.
I want to focus on Marathon Petroleum stock’s momentum.
It’s only boasting a 71 out of 100 factor score, but MPC has been on fire.
It’s up more than 85% over the last 12 months as I write.
That’s what we call “maximum momentum,” and it’s what we look for when recommending new stocks to our subscribers.
Bottom Line: Marathon Petroleum is a leader in the energy sector.
And our Stock Power Ratings system says Marathon Petroleum stock is set to outperform the broader market from here.
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