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Marathon Petroleum Corporation (MPC) engages in refining, transporting, and marketing petroleum products primarily in the United States.
It operates through Refining & Marketing, Speedway, and Pipeline Transportation segments. The company owns and operates seven refineries in the Gulf Coast and Midwest regions of the United States, which refine crude oil and other feedstocks; and distribute refined products through barges, terminals, and trucks, as well as purchases ethanol and refined products for resale.
Its refined products include gasoline, distillates, propane, feedstocks and special products, heavy fuel oil, and asphalt. The company also transports crude oil and other feedstocks to its refineries and other locations; and sells transportation fuels and convenience products in the retail market through Speedway convenience stores. Marathon Petroleum Corporation markets its refined products to resellers, consumers, independent retailers, wholesale customers, marathon-branded jobbers, its Speedway convenience stores, airlines, transportation companies, and utility companies, as well as exports its refined products.
As of December 31, 2012, it owned, leased, and had ownership interests in approximately 8,200 miles of crude oil and refined product pipelines; and operated approximately 4,964 Marathon branded retail outlets and 1,464 convenience stores in the United States.
Shares have formed a bullish "cup & handle" and higher prices are expected for the stock.
52-Week Trading Range: $33.65 - $92.73
Entry Point: $89.95
Stop Loss: $85.45
Target Price: $98.95
We closed the MPC position at $85.20 after it fell below our stop loss.
