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Tom Kool: head of operations, oilprice.com. Majored in international business at Amsterdam's Higher School of Economics.
U.S. refiner Marathon Petroleum Corp was trading up over 4.3% close to close Tuesday after posting Q1 earnings showing an impressive jump in profit on the back of soaring oil prices and post-pandemic economic recovery.
Marathon reported net profit of $845 million ($1.49 per share) for Q1, up from a loss of $242 million for the same quarter a year ago. The refiner also reported revenue gaining 68% on the quarter for #38.8 billion, up from $22.88 billion a year ago.
High margins have been launching U.S. refiners into a “golden age”, and Marathon is no exception, with a refining unit profit margin increase of over $5 per barrel year-over-year and a capacity utilization rate of over 90%.
Up another four percent today.
Pays 2.5%.
Last five days:
I feel sorry for all those investors who invest in funds whose managers won't invest in oil and gas companies. There's a lot of small mom-and-pop retail investors who are going to have a better (investing) year than some managed funds.
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