Name of opportunity: 👀
Marathon Petroleum Corporation
Share buyback: 🛍️
One reason why investors might be drawn to Marathon Petroleum right now is its current share buyback scheme. The company approved a new program this quarter, planning to execute $5 billion more stock buybacks. Between 2021 and this announcement, Marathon already repurchased $35 billion in shares. Share buybacks typically drive the stock price higher as the number of available shares gets lower, meaning that’s one reason that analysts predict this stock to increase in value.
How hot is this investment opportunity? 🔥🔥🔥
Analysts predict the price of Marathon Petroleum Corporation might increase from $154.99 to $211.92 in the next 12 months. If you invested $1000, you might profit $339.25.
As well as the share buyback program, the company also recently received an updated permit for its Detroit refinery. Now that the Michigan environmental agency has granted the permit, the refinery will be allowed to increase the number of barrels of crude oil produced, up from the previous amount of 140,000 per day on average.
Marathon Petroleum also pays a modest dividend of 1.98%. It was fairly recently increased, rising by 10% last October - might this lay a path for future dividend increases?
Crude oil: ⛽
Marathon Petroleum Corporation is the largest petroleum refinery operator in the United States, with 16 refineries. The company is engaged in the petroleum product refining, marketing, retail and midstream business in the United States.
Which neme?: 🔍
‘Oil & Gas’
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