Shares of Marathon Petroleum Corporation (NYSE:MPC) [Trend Analysis] swings enthusiastically in regular trading session, it a decrease of -0.71% to close at $47.71. Marathon Petroleum Corp’s quarterly profit beat analysts’ estimates, fueled by better-than-expected refining margins, and the company said it would accelerate the transfer of some assets to its unit, MPLX LP.
The company said in January it would speed up a previously reported drop down to MPLX and consider a separation of its Speedway retail business, amid pressure from hedge fund Elliott Management to boost its stock price.
The refiner said a special committee reviewing the Speedway divestiture was expected to provide an update by mid-2017.The confirmation of the dropdown this year suggests that monetization of MPC’s (incentive distribution rights) stake in MPLX will occur at or around year-end 2017, Tudor Pickering Holt & Co analysts wrote in a note to clients.
Moving forward to saw long-term intention, the experts calculate Return on Investment of 12.60%. The stock is going forward its fifty-two week low with 67.83% and lagging behind from its 52-week high price with -12.60%. MPC last month stock price volatility remained 2.69%.
Harmony Gold Mining Company Limited (NYSE:HMY) [Trend Analysis] retains strong position in active trade, as shares scoring 1.18% to $2.58 in a active trade session, while looking at the shares volume, around 5.71 Million shares have changed hands in this session. Harmony Gold Mining (HMY) regret to advise that one of its employees was fatality injured in a scraper related incident at its Masimong mine in Welkom in the Free State.
The deceased was a stope team member with close to 14 years’ mining experience. All scraper related operations were stopped until further notice and a safety shift was declared. An investigation into the incident is underway. The firm has institutional ownership of 47.90%, while insider ownership included 15.10%. HMY attains analyst recommendation of 2.70 with week’s performance of 4.03%. Investors looking further ahead will note that the Price to next year’s EPS is -27.08%.