Market Summary
USD150.02-1.32
Market Closed-0.87%
MPC Stock Price
MPC RSI Chart
MPC Valuation
MPC Price/Sales (Trailing)
MPC Profitability
MPC Fundamentals
MPC Revenue
MPC Earnings
Price Action
52 Week Range
99.59159.50
(Low)(High)
Last 7 days
-2.7%
Last 30 days
2.8%
Last 90 days
27.6%
Trailing 12 Months
52.0%
MPC Financial Health
MPC Investor Care
Historical Charts for Stock Metrics
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Net sales
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Latest Insider Trading transactions for MPC
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-09-08 | Lyon Shawn M | gifted | - | - | -1,312 | svp log & storage, mplx gp llc |
2023-08-11 | Aydt Timothy J | gifted | - | - | -1,082 | ex vp, refining |
2023-08-10 | Floerke Gregory Scott | acquired | 390,861 | 47.73 | 8,189 | ex vp & coo, mplx gp llc |
2023-08-10 | Lyon Shawn M | sold | -1,189,850 | 147 | -8,086 | svp log & storage, mplx gp llc |
2023-08-10 | Aydt Timothy J | sold | -713,662 | 145 | -4,913 | ex vp, refining |
2023-08-10 | Aydt Timothy J | acquired | 234,497 | 47.73 | 4,913 | ex vp, refining |
2023-08-10 | Floerke Gregory Scott | sold | -1,193,960 | 145 | -8,189 | ex vp & coo, mplx gp llc |
2023-08-10 | Lyon Shawn M | acquired | 168,755 | 20.87 | 8,086 | svp log & storage, mplx gp llc |
2023-08-01 | Rucker Kim K.W. | sold | -793,500 | 132 | -6,000 | - |
2023-07-03 | SURMA JOHN P | acquired | - | - | 334 | - |
Which funds bought or sold MPC recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-26 | BROOKFIELD Corp /ON/ | sold off | -100 | -276,806 | - | -% |
2023-09-26 | M Holdings Securities, Inc. | sold off | -100 | -1,329,000 | - | -% |
2023-09-21 | Baystate Wealth Management LLC | reduced | -32.91 | -13,399 | 18,590 | -% |
2023-09-21 | Jefferies Group LLC | added | 164 | 3,004,190 | 4,370,520 | 0.04% |
2023-09-20 | BARCLAYS PLC | added | 88.09 | 45,756,000 | 118,776,000 | 0.07% |
2023-09-12 | DCM Advisors, LLC | reduced | -0.19 | -873,925 | 5,513,780 | 2.36% |
2023-09-12 | Farther Finance Advisors, LLC | reduced | -8.48 | -21,328 | 80,515 | 0.02% |
2023-09-08 | TUCKER ASSET MANAGEMENT LLC | reduced | -90.00 | -19,707 | 1,866 | -% |
2023-09-07 | ST GERMAIN D J CO INC | new | - | 6,996 | 6,996 | -% |
2023-09-07 | Scarborough Advisors, LLC | added | 0.41 | -34,619 | 228,281 | 0.06% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
Schedule 13G FIlings of Marathon Petroleum
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 09, 2023 | vanguard group inc | 9.37% | 43,891,083 | SC 13G/A | |
| Feb 03, 2023 | state street corp | 6.95% | 32,583,077 | SC 13G/A | |
| Jan 24, 2023 | blackrock inc. | 9.3% | 43,461,422 | SC 13G/A | |
| Mar 09, 2022 | vanguard group inc | 11.04% | 62,395,638 | SC 13G/A | |
| Feb 11, 2022 | state street corp | 6.73% | 41,423,140 | SC 13G/A | |
| Feb 09, 2022 | vanguard group inc | 9.88% | 60,814,113 | SC 13G/A | |
| Feb 03, 2022 | blackrock inc. | 9.2% | 56,693,740 | SC 13G/A | |
| Dec 09, 2021 | vanguard group inc | 10.25% | 63,081,812 | SC 13G/A | |
| Feb 10, 2021 | vanguard group inc | 9.54% | 62,093,893 | SC 13G/A | |
| Feb 09, 2021 | state street corp | 5.96% | 38,761,346 | SC 13G |
Recent SEC filings of Marathon Petroleum
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Sep 12, 2023 | 4 | Insider Trading | |
| Aug 14, 2023 | 4 | Insider Trading | |
| Aug 14, 2023 | 4 | Insider Trading | |
| Aug 14, 2023 | 4 | Insider Trading | |
| Aug 10, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 10, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 10, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 02, 2023 | 4 | Insider Trading | |
| Aug 01, 2023 | 8-K | Current Report | |
| Aug 01, 2023 | 10-Q | Quarterly Report |
Peers (Alternatives to Marathon Petroleum)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
APA | - | 8.8B | -12.31% | 16.31% | - | - | -19.24% | -60.57% |
XOM | 462.9B | 377.0B | 1.86% | 34.53% | 8.95 | 1.23 | 3.30% | 32.79% |
CVX | 311.0B | 222.8B | 1.36% | 17.85% | 10.31 | 1.4 | 3.16% | 3.86% |
COP | 141.3B | 69.3B | -4.13% | 16.09% | 10.93 | 2.04 | 0.61% | -18.74% |
MPC | 62.6B | 159.2B | 2.78% | 51.98% | 4.91 | 0.39 | -1.00% | 55.73% |
PSX | 54.1B | 160.5B | 1.58% | 48.75% | 4.95 | 0.34 | 6.24% | 101.57% |
| MID-CAP | ||||||||
MUR | 6.9B | 3.8B | -5.57% | 25.45% | 6.73 | 1.8 | 8.18% | 97.97% |
PBF | 6.5B | 42.1B | 6.39% | 49.27% | 2.11 | 0.16 | 8.83% | 120.09% |
CVI | 3.4B | 9.9B | -3.97% | 19.65% | 5.65 | 0.34 | 4.08% | 53.09% |
CPE | 2.3B | 2.7B | -9.46% | 5.20% | 2.44 | 0.86 | 12.93% | 24.18% |
| SMALL-CAP | ||||||||
GPRE | 1.7B | 3.6B | -6.38% | 0.48% | -7.53 | 0.49 | 6.48% | -193.65% |
CLMT | 1.5B | 4.2B | 1.82% | 48.32% | -34.53 | 0.36 | -1.01% | 69.88% |
GEVO | 261.4M | 11.8M | -15.38% | -51.75% | -2.58 | 22.13 | 1454.08% | -69.46% |
Marathon Petroleum News
Returns for MPC
Cumulative Returns on MPC
20%
10-Year Cumulative Returns
24.3%
7-Year Cumulative Returns
15.5%
5-Year Cumulative Returns
79.1%
3-Year Cumulative Returns
Risks for MPC
What is the probability of a big loss on MPC?
83.1%
Probability that Marathon Petroleum stock will be more than 20% underwater in next one year
42.3%
Probability that Marathon Petroleum stock will be more than 30% underwater in next one year.
26.9%
Probability that Marathon Petroleum stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does MPC drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Marathon Petroleum was unfortunately bought at previous high price.
Drawdowns
Financials for Marathon Petroleum
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | -9.9% | 159,231 | 176,645 | 179,952 | 175,467 | 160,843 | 136,432 | 120,930 | 103,509 | 88,444 | 70,917 | 69,032 | 78,985 | 89,125 | 110,495 | 111,865 | 111,987 | 107,431 | 96,206 | 86,589 | 85,797 | 82,051 |
| Costs and Expenses | -8.1% | 140,440 | 152,831 | 158,483 | 156,959 | 147,681 | 130,633 | 116,630 | 100,597 | 87,929 | 70,792 | 81,279 | 91,064 | 98,467 | 118,370 | 107,403 | 106,460 | 102,181 | 91,287 | 81,899 | 81,075 | 77,155 |
| S&GA Expenses | 0.3% | 2,870 | 2,860 | 2,772 | 2,665 | 2,634 | 2,565 | 2,537 | 2,511 | 2,503 | 2,543 | 2,710 | 2,859 | 2,947 | 3,168 | 3,192 | 3,519 | 3,203 | 2,741 | 2,276 | 1,679 | 1,645 |
| EBITDA | -100.0% | - | 26,132 | 23,684 | 20,495 | 15,103 | 7,732 | 6,181 | 4,926 | 2,492 | 4,011 | -8,825 | -8,017 | -5,302 | -4,267 | 7,851 | - | - | - | - | - | - |
| EBITDA Margin | -100.0% | - | 0.15* | 0.13* | 0.12* | 0.09* | 0.06* | 0.05* | 0.05* | 0.03* | 0.06* | -0.13* | -0.12* | -0.07* | -0.04* | 0.07* | - | - | - | - | - | - |
| Earnings Before Taxes | -21.2% | 18,069 | 22,922 | 20,469 | 17,264 | 11,830 | 4,407 | 2,817 | 1,526 | -902 | -1,261 | -13,612 | -13,408 | -10,624 | -9,138 | 3,233 | 4,212 | 4,007 | 3,803 | 3,697 | 3,895 | 4,151 |
| EBT Margin | -100.0% | - | 0.13* | 0.11* | 0.10* | 0.07* | 0.03* | 0.02* | 0.01* | -0.01* | -0.01* | -0.20* | -0.19* | -0.13* | -0.09* | 0.03* | - | - | - | - | - | - |
| Net Income | -22.2% | 12,748 | 16,395 | 14,516 | 11,969 | 8,186 | 10,825 | 9,738 | 9,249 | 7,669 | -834 | -9,826 | -9,668 | -7,687 | -6,590 | 2,637 | 3,145 | 2,787 | 2,736 | 2,780 | 3,845 | 4,011 |
| Net Income Margin | -100.0% | - | 0.09* | 0.08* | 0.07* | 0.05* | 0.08* | 0.08* | 0.09* | 0.09* | -0.01* | -0.14* | -0.14* | -0.10* | -0.07* | 0.02* | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 15,523 | 13,941 | 13,478 | 10,140 | 4,764 | 2,896 | 574 | 2,786 | 1,501 | -368 | 183 | 879 | 2,530 | 4,631 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | -0.7% | 86,442 | 87,037 | 89,904 | 89,694 | 96,737 | 90,952 | 85,373 | 89,300 | 94,300 | 86,651 | 85,158 | 84,020 | 84,593 | 86,317 | 98,556 | 98,139 | 96,896 | 96,436 | 92,940 | 53,031 | 51,736 |
| Current Assets | -0.8% | 32,213 | 32,486 | 35,242 | 35,285 | 42,413 | 36,388 | 30,496 | 34,143 | 38,592 | 30,361 | 28,287 | 26,200 | 14,643 | 15,693 | 30,458 | 19,139 | 18,396 | 18,151 | 18,023 | 15,873 | 15,548 |
| Cash Equivalents | -7.7% | 7,345 | 7,960 | 8,625 | 7,376 | 9,083 | 7,151 | 5,294 | 5,875 | 11,839 | 625 | 416 | 620 | 966 | 1,605 | 1,395 | 1,348 | 1,249 | 908 | 1,519 | 4,995 | 5,004 |
| Inventory | -7.1% | 9,536 | 10,268 | 8,827 | 9,834 | 11,048 | 9,482 | 8,055 | 9,211 | 8,879 | 8,407 | 7,999 | 7,403 | 8,086 | 7,445 | 9,804 | 9,696 | 9,088 | 9,833 | 9,837 | 5,339 | 5,485 |
| Net PPE | - | - | - | - | - | - | - | - | 37,630 | 37,996 | 38,491 | 39,035 | 39,757 | 45,025 | 45,333 | 40,870 | 45,034 | 45,335 | 45,091 | 45,058 | 27,717 | 26,931 |
| Goodwill | 0% | 8,244 | 8,244 | 8,244 | 8,244 | 8,244 | 8,256 | 8,256 | 8,256 | 8,256 | 8,256 | 8,256 | 8,256 | 12,710 | 12,710 | 15,650 | 21,277 | 94.00 | 20,229 | 15,834 | 121 | 3,586 |
| Liabilities | 0.9% | 53,874 | 53,374 | 54,817 | 55,919 | 63,068 | 59,653 | 51,792 | 53,336 | 57,607 | 57,172 | 54,938 | 53,506 | 52,776 | 54,121 | 55,449 | 54,515 | 52,830 | 52,574 | 47,887 | 32,997 | 31,915 |
| Current Liabilities | 2.4% | 17,466 | 17,057 | 20,020 | 21,314 | 28,437 | 25,120 | 17,898 | 16,898 | 19,512 | 16,085 | 15,663 | 14,246 | 11,504 | 13,569 | 16,948 | 15,339 | 14,890 | 15,147 | 13,216 | 9,634 | 9,715 |
| Long Term Debt | 0.0% | 27,211 | 27,205 | 25,634 | 25,638 | 25,687 | 25,634 | 24,968 | 27,270 | 28,250 | 30,694 | 28,730 | 29,377 | 30,451 | 29,899 | 28,020 | 28,282 | 27,853 | 27,565 | 26,980 | 18,423 | 17,241 |
| Shareholder's Equity | -21.4% | 25,714 | 32,695 | 27,715 | 26,304 | 32,704 | 30,334 | 32,616 | 34,978 | 35,725 | 28,511 | 29,252 | 29,546 | 30,849 | 31,228 | 42,139 | 42,656 | 43,061 | 42,858 | 44,049 | 19,031 | 18,818 |
| Retained Earnings | 6.7% | 30,442 | 28,528 | 26,142 | 23,175 | 18,983 | 13,420 | 12,905 | 12,484 | 12,160 | 4,029 | 4,650 | 4,744 | 6,008 | 6,380 | 15,990 | 15,891 | 15,146 | 14,391 | 14,755 | 14,119 | 13,589 |
| Additional Paid-In Capital | 0.0% | 33,411 | 33,408 | 33,402 | 33,363 | 33,378 | 33,327 | 33,262 | 33,256 | 33,238 | 33,222 | 33,208 | 33,183 | 33,208 | 33,169 | 33,157 | 33,125 | 33,785 | 33,764 | 33,729 | 13,703 | 13,688 |
| Shares Outstanding | -6.1% | 417 | 444 | - | 491 | 532 | 564 | - | 633 | 650 | 651 | - | 650 | 650 | 648 | - | 656 | 662 | 673 | - | 451 | 459 |
| Minority Interest | 0.8% | 5,886 | 5,837 | 6,404 | 6,504 | 6,398 | 6,362 | 6,410 | 6,698 | 6,804 | 6,919 | 7,053 | 7,093 | 7,108 | 7,140 | 8,445 | 8,918 | 8,854 | 8,907 | 8,874 | 3,865 | 3,860 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | -16.6% | 14,937 | 17,905 | 16,361 | 15,653 | 11,991 | 6,419 | 4,360 | 2,014 | 4,483 | 3,641 | 2,419 | 3,500 | 4,966 | 7,050 | 9,441 | 9,759 | 8,154 | 7,918 | 6,158 | 6,176 | 6,900 |
| Cashflow From Investing | 10.9% | -1,693 | -1,901 | 623 | 2,569 | 14.00 | 16,772 | 14,797 | 12,916 | 14,223 | -2,436 | -3,257 | -4,510 | -5,458 | -5,829 | -6,261 | -9,350 | -9,032 | -8,412 | -7,670 | -3,676 | -2,904 |
| Cashflow From Financing | 1.4% | -14,978 | -15,190 | -13,647 | -16,714 | -14,761 | -16,799 | -14,419 | -9,773 | -7,960 | -2,140 | -135 | 200 | 336 | -435 | -3,376 | -3,876 | -2,877 | -3,255 | 222 | 400 | -446 |
| Dividend Payments | 0.2% | 1,289 | 1,286 | 1,279 | 1,282 | 1,367 | 1,435 | 1,484 | 1,507 | 1,515 | 1,512 | 1,510 | 1,477 | 1,447 | 1,421 | 1,398 | 1,371 | 1,230 | 1,089 | 954 | 832 | 827 |
| Buy Backs | -2.1% | 11,993 | 12,256 | 11,922 | 12,827 | 9,847 | 7,500 | 4,654 | 1,912 | 984 | - | - | 65.00 | 565 | 1,065 | 1,950 | 2,560 | 2,460 | 2,845 | 3,287 | 3,362 | 3,414 |
MPC Income Statement
2023-06-30Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |||||
| Revenues and other income: | ||||||||
| Sales and other operating revenues | $ 36,343 | $ 53,795 | $ 71,207 | [1] | $ 91,853 | [1] | ||
| Income from equity method investments | 199 | 147 | 332 | 289 | ||||
| Net gain on disposal of assets | 13 | 39 | 16 | 21 | ||||
| Other income | 269 | 257 | 346 | 459 | ||||
| Total revenues and other income | 36,824 | 54,238 | 71,901 | 92,622 | ||||
| Costs and expenses: | ||||||||
| Cost of revenues (excludes items below) | 31,762 | 44,207 | 61,056 | 79,275 | ||||
| Depreciation and amortization | 834 | 819 | 1,634 | 1,624 | ||||
| Selling, general and administrative expenses | 704 | 694 | 1,395 | 1,297 | ||||
| Other taxes | 219 | 190 | 450 | 382 | ||||
| Total costs and expenses | 33,519 | 45,910 | 64,535 | 82,578 | ||||
| Income from operations | 3,305 | 8,328 | 7,366 | 10,044 | ||||
| Net interest and other financial costs | 142 | 312 | 296 | 574 | ||||
| Income before income taxes | 3,163 | 8,016 | 7,070 | 9,470 | ||||
| Provision for income taxes | 583 | 1,799 | 1,406 | 2,081 | ||||
| Net income | 2,580 | 6,217 | 5,664 | 7,389 | ||||
| Less net income attributable to: | ||||||||
| Redeemable noncontrolling interest | 23 | 21 | 46 | 42 | ||||
| Noncontrolling interests | 331 | 323 | 668 | 629 | ||||
| Net income attributable to MPC | $ 2,226 | $ 5,873 | $ 4,950 | $ 6,718 | ||||
| Basic: | ||||||||
| Net income attributable to MPC per share | $ 5.34 | $ 11.03 | $ 11.49 | $ 12.24 | ||||
| Weighted average shares outstanding | 417 | 532 | 430 | 549 | ||||
| Diluted: | ||||||||
| Net income attributable to MPC per share | $ 5.32 | $ 10.95 | $ 11.44 | $ 12.15 | ||||
| Weighted average shares outstanding | 419 | 536 | 432 | 553 | ||||
| ||||||||
MPC Balance Sheet
2023-06-30Consolidated Balance Sheets - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $ 7,345 | $ 8,625 |
| Short-term investments | 4,109 | 3,145 |
| Receivables, less allowance for doubtful accounts of $54 and $29, respectively | 10,274 | 13,477 |
| Inventories | 9,536 | 8,827 |
| Other current assets | 949 | 1,168 |
| Total current assets | 32,213 | 35,242 |
| Equity method investments | 6,665 | 6,466 |
| Property, plant and equipment, net | 35,059 | 35,657 |
| Goodwill | 8,244 | 8,244 |
| Right of use assets | 1,288 | 1,214 |
| Other noncurrent assets | 2,973 | 3,081 |
| Total assets | 86,442 | 89,904 |
| Liabilities | ||
| Accounts payable | 13,052 | 15,312 |
| Payroll and benefits payable | 712 | 967 |
| Accrued taxes | 1,160 | 1,140 |
| Debt due within one year | 72 | 1,066 |
| Operating lease liabilities | 423 | 368 |
| Other current liabilities | 2,047 | 1,167 |
| Total current liabilities | 17,466 | 20,020 |
| Long-term debt | 27,211 | 25,634 |
| Deferred income taxes | 5,913 | 5,904 |
| Defined benefit postretirement plan obligations | 1,181 | 1,114 |
| Long-term operating lease liabilities | 859 | 841 |
| Deferred credits and other liabilities | 1,244 | 1,304 |
| Total liabilities | 53,874 | 54,817 |
| Commitments and contingencies (see Note 23) | ||
| Redeemable noncontrolling interest | 968 | 968 |
| Equity | ||
| Preferred stock, no shares issued and outstanding (par value $0.00 per share, 30 million shares authorized) | 0 | 0 |
| Common stock: | ||
| Issued – 992 million and 990 million shares (par value $0.01 per share, 2 billion shares authorized) | 10 | 10 |
| Held in treasury, at cost – 587 million and 536 million shares | (38,119) | (31,841) |
| Additional paid-in capital | 33,411 | 33,402 |
| Retained earnings | 30,442 | 26,142 |
| Accumulated other comprehensive income (loss) | (30) | 2 |
| Total MPC stockholders’ equity | 25,714 | 27,715 |
| Noncontrolling interests | 5,886 | 6,404 |
| Total equity | 31,600 | 34,119 |
| Total liabilities, redeemable noncontrolling interest and equity | $ 86,442 | $ 89,904 |
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale. Its refined products include transportation fuels, such as reformulated gasolines and blend-grade gasolines; heavy fuel oil; and asphalt. This segment also manufactures aromatics, propane, propylene, and sulfur. It sells refined products to wholesale marketing customers in the United States and internationally, buyers on the spot market, and independent entrepreneurs who operate primarily Marathon branded outlets, as well as through long-term fuel supply contracts to direct dealer locations primarily under the ARCO brand. The Midstream segment transports, stores, distributes, and markets crude oil and refined products through refining logistics assets, pipelines, terminals, towboats, and barges; gathers, processes, and transports natural gas; and gathers, transports, fractionates, stores, and markets natural gas liquids. As of December 31, 2021, the company operated 7,159 brand jobber outlets in 37 states, the District of Columbia, and Mexico through independent entrepreneurs. Marathon Petroleum Corporation was founded in 1887 and is headquartered in Findlay, Ohio.