Crude oil (WTI) is slumping 5.22% to $29.97 per barrel and Brent crude is tanking 3.94% to $32.89 per barrel.
Overall, prices were being weighed down by disappointing earnings earlier this morning from BP (BP) reporting an annual loss of $6.5 billion in 2015--its worst in 20 years. Additionally, Exxon Mobil (XOM) reported a 58% drop in its quarterly profit.
On top of earnings, investors were concerned about the demand outlook as the market continues to remain saturated.
Marathon Petroleum is expected to release its fourth quarter fiscal 2015 earnings on Wednesday before the market open. Wall Street is looking for a profit of 69 cents a share on revenue of $16.35 billion.
Based in Findlay, OH, Marathon Petroleum engages in refining, marketing, retailing, and transporting petroleum products primarily in the U.S.
Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, notable return on equity and attractive valuation levels. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MPCMPC data by YCharts