RTTNews | Nov 2, 2020 10:33AM EST

10:33 Monday, November 2, 2020 (RTTNews.com) - Shares of Marathon Petroleum Corp. (MPC) are gaining more than 5 percent or $1.59 in Monday's morning trade at $31.09 after the company's adjusted loss for the quarter came in narrower than analysts' expectations.

Monday, Marathon Petroleum said its third-quarter net loss was $1.02 billion or $1.57 per share, compared to net income of $1.10 billion or $1.66 per share in the year-ago quarter. Adjusted net loss was $1.00 per share, compared to adjusted earnings of $1.63 per share last year. Total revenues and other income declined to $17.55 billion from $27.69 billion a year ago. Analysts polled by Thomson Reuters had a consensus estimate for net loss of $1.70 per share on revenues of $17.99 billion.

Marathon Petroleum has traded in a range of $15.26 to $68.73 in the past 52 weeks.

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