From a PE valuation standpoint, refiners tend to work together. You see spreads widen or narrow off the raw product of oil, into the different commercial products. This company has been a good performer over the years. Not having great visibility into the cycle and to the spreads, he would probably pass on making this a core holding.
He sees resistance around $51. The chart shows a double top in 2015. This is a good indicator that the 2nd time the bulls tried to do it, they got exhausted. Currently the chart is showing a nice upward trend. He likes energy. If this breaks above $51, he would be keen to add.
You can expect resistance on this at around $42. It is now at $38, so it is reaching a Sell target zone. If there is any further rally, he would Sell.
With refiners, from late summer to end of Sept, this sector goes through a process. They shut down refineries and move into producing heating oil. Mid July until end of Sept is seasonal strength. Watch inventories of gas and heating oil.
Marathon Petroleum is a American stock, trading under the symbol MPC-N on the New York Stock Exchange (MPC). It is usually referred to as NYSE:MPC or MPC-N
In the last year, 2 stock analysts published opinions about MPC-N. 2 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Marathon Petroleum.
Marathon Petroleum was never recommended as a Top Pick on Stockchase. Read the latest stock experts ratings for Marathon Petroleum.
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
2 stock analysts on Stockchase covered Marathon Petroleum In the last year. It is a trending stock that is worth watching.
On 2023-06-09, Marathon Petroleum (MPC-N) stock closed at a price of $113.01.
When OPEC raises oil prices, it will hurt MPC's margin, but this is a cheap stock that's well run.