ConocoPhillips plans layoffs as part of broad restructuring By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 22 2025
0mins
Source: Investing.com
ConocoPhillips Job Cuts: ConocoPhillips plans to reduce its workforce as part of a restructuring initiative called "Competitive Edge," following its $23 billion acquisition of Marathon Oil, amid challenges in the oil and gas industry due to low prices and rising costs.
Operational Restructuring: The company is centralizing operations and exploring asset divestitures, including potential sales of inherited assets from the Marathon Oil takeover, with details on layoffs expected in the fourth quarter of this year.
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Analyst Views on MPC
Wall Street analysts forecast MPC stock price to fall
14 Analyst Rating
9 Buy
5 Hold
0 Sell
Moderate Buy
Current: 224.140
Low
184.00
Averages
201.50
High
213.00
Current: 224.140
Low
184.00
Averages
201.50
High
213.00
About MPC
Marathon Petroleum Corporation is an integrated, downstream energy company. The Company’s segments include Refining & Marketing, Midstream and Renewable Diesel. 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. It sells refined products to wholesale marketing customers domestically and internationally, to buyers on the spot market, and to independent entrepreneurs who operate primarily Marathon branded outlets. The Midstream segment gathers, transports, stores and distributes crude oil, refined products, including renewable diesel, and other hydrocarbon-based products, principally for the Refining & Marketing segment via refining logistics assets, pipelines, terminals, and others. The Renewable Diesel segment processes renewable feedstocks into renewable diesel, markets renewable diesel and distributes renewable products through its Midstream segment and third parties.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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