Key Takeaways This is a golden age of refining with record high crack spreads. Marathon Petroleum's earnings are expected to soar 341% this year.Shares of MPC are at new highs but it is still cheap with a forward P/E of just 8.2. Marathon Petroleum Corp. (MPC - Free Report) is in a golden age of refining. This Zacks Rank #1 (Strong Buy) is expected to grow earnings 341% year-over-year as crack spreads hit record highs.
Marathon Petroleum (“MPC”) is an integrated downstream and midstream energy company. Headquartered in Findlay, Ohio, it operates 13 refineries, the largest refining system in the United States. MPC has a crude oil refining capacity of about 3 million barrels per calendar day.
Marathon Petroleum’s marketing system includes gas station locations across the United States, including Marathon and ARCO retail outlets.
MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.
High Crack Spreads Drove Marathon’s Second Quarter 2026 ResultsOn Aug 4, 2026, Marathon Petroleum reported its second quarter 2026 results and beat the Zacks Consensus on earnings by 22%. It was the third earnings beat in a row.
The Refining & Marketing margin was $36.33 per barrel for the second quarter of 2026, up from $17.58 in the prior year’s quarter.
Crude capacity utilization was 94%. The stellar results were driven by higher crack spreads in all regions.
Analysts Can’t Keep Up as MPC’s Earnings Continue to RiseThe crack spreads continue to move higher which means so will MPC’s earnings.
One estimate for 2026 was raised in just the last week pushing the Zacks Consensus up to $47.23 from $46.66.
However, the Most Accurate Estimate, which is the most recent one, was raised to $53.69.
How dramatic is the earnings increase this year?
Marathon Petroleum only made $10.70 in 2025. That’s earnings growth of 341.4% at the Zacks Consensus of $47.23 and it’s even higher if the Most Accurate Estimate of $53.69 holds up.
Here’s what it looks like on the price and consensus chart.
Image Source: Zacks Investment Research
Higher Margins Means More CashMPC is awash in cash. This is the golden age for refiners.
As of June 30, 2026, the company had $7.8 billion in cash and cash equivalents, including $1 billion of cash at MPLX.
It’s giving back a lot of it to shareholders. In the second quarter of 2026, Marathon returned $2.8 billion to shareholders in share repurchases and a dividend. As of June 30, 2026, it had $6.1 billion remaining on the share repurchase authorization.
It’s dividend is $4.00 per share annually, which is yielding 1%.
Shares of Marathon Petroleum Soar in 2026Not surprisingly, the refiners have been the place to park your money in 2026. Shares of Marathon Petroleum are up 125% year-to-date to new highs.
Image Source: Zacks Investment Research
Yet Marathon is still cheap on a price-to-earnings (P/E) basis because the “E,” or earnings, keeps going up even as the stock price does.
MPC has a PEG ratio of 0.25. A PEG under 1.0 indicates a company has both growth and value.
In addition to being a Strong Buy stock, Marathon also has the top Zacks Style Scores of A for Value, A for Momentum, and A for Growth.
Only 7 companies in the entire Zacks screening universe of over 4400 stocks currently meet these criteria of having both the top Zacks Rank and the top Style Scores.
Buying a refining stock is a short-term trade. No one knows what is going to happen to the crack spreads in 2027.
But for investors looking for a way to cash in on high diesel and gasoline prices today, Marathon Petroleum should be on your short list.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.8% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Marathon Petroleum (MPC - Free Report) Findlay, OH-based Marathon Petroleum Corporation is a leading independent refiner, transporter and marketer of petroleum products. The company, in its current form, came into existence following the 2011 spin-off of Houston, TX-based Marathon Oil Corporation’s refining/sales business into a separate, independent and publicly traded entity. In October 2018, Marathon Petroleum completed the acquisition of its rival Andeavor in a $23.3 billion deal, thereby becoming the nationwide largest refining company by market capitalization. The deal also made the company the largest U.S. refiner and the fifth largest in the world by capacity.
MPC is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Oils-Energy stock. MPC has a Momentum Style Score of A, and shares are up 21.4% over the past four weeks.
Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $14.27 to $47.23 per share. MPC also boasts an average earnings surprise of +49.3%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, MPC should be on investors' short list.
Key Takeaways Buying the best Zacks Rank #1 (Strong Buy) momentum stocks now and throughout September.Buy and hold oil refiner MPC stock now for value, growth, and long-term upside. The stock market cooled off a bit to start the Labor Day-shortened trading week, with the S&P 500 and the Nasdaq trading slightly lower through early afternoon trading. The mundane start to the week came after Wall Street bulls jumped back in at some key technical levels following slightly dovish comments from Fed Governor Christopher Waller last Thursday.
The Fed and the possibility of a mid-September rate hike, along with rising bond yields and the U.S.-Iran conflict (and therefore the Strait of Hormuz), remain by far the most important macro-level factors Wall Street is watching. Further ahead, the upcoming midterm elections might create even more volatility.
All that said, the bulls could certainly press their advantage and push both the Nasdaq and the S&P 500 to new all-time highs sooner rather than later, if everything breaks right.
Therefore, investors likely want to keep buying stocks in September and throughout the final stretch of 2026. Today, we highlight how investors can find surging, top-ranked stocks thriving in the current market conditions.
The momentum stocks this screen puts on your radar have also seen strong upward earnings revisions, earning them a Zacks Rank #1 (Strong Buy) right now. Let’s dive into how investors can find the best "Strong Buy" momentum stocks to buy now in September and beyond.
Screen Basics: Finding the Best Momentum Stocks to BuyThe screen we are looking into today comes loaded with the Research Wizard. The screen helps investors dig through all of the Zacks Rank #1 (Strong Buy) stocks, of which there are over 200 at any given time, to find some of the top momentum names.
The screen narrows down the list of Zacks Rank #1 (Strong Buy) stocksto those with upward price momentum that are also trading within 20% of their 52-week highs. The screen then uses the PEG ratio and the Price to Sales ratio to help make sure investors are getting value as well. The screen then makes your life a little easier and narrows it down to just seven stock picks.
The screen basics are listed below…
· Zacks Rank = #1 (Strong Buy)
· Current Price/52-week High >= 0.8
· PEG Ratio: P/E F(1)/EPS Growth <= 1
· Price/Sales <= 3
· Percentage Change Price -12 Weeks = Top # 7
This strategy comes loaded with the Research Wizard and it is called bt_sow_momentum_method1 It can be found in the SoW (Screen of the Week) folder.
The screen is simple, yet powerful. Here is one of the seven stocks that made it through this week's screen…
Best "Strong Buy" Stocks for September: Buy Oil Stock MPC and Hold ForeverMarathon Petroleum Corporation (MPC - Free Report) runs the largest oil refining business in the U.S. MPC turns crude into gasoline, diesel, jet fuel, and other products at its 13 refineries, boasting about 3 million barrels per day of capacity.
On top of that, the oil company sells fuel at the retail level through Marathon and ARCO stations. Furthermore, MPC owns the general partner and majority limited partner interest in MPLX LP, which moves oil, gas, and other petroleum products through pipelines and terminals.
Image Source: Zacks Investment Research
Marathon Petroleum shares have skyrocketed 145% YTD as “crack spreads,” or the differences between wholesale petroleum product prices and crude oil prices, soar. Global crude disruptions—especially around the Middle East and Strait of Hormuz—plus heavy worldwide refinery downtime lifted product prices far more than crude costs. MPC’s R&M margin surged 106% YoY in Q2 to $36.33 per barrel, “driven primarily by higher crack spreads in all regions.”
MPC’s outlook is booming as it rides the current bullish trends driving its refining and marketing industry, which sits in the top 3% of ~250 Zacks industries. This is critical since studies have shown that roughly half of a stock's price movement can be attributed to a stock's industry group. In fact, the top 50% of Zacks Ranked Industries outperforms the bottom 50% by a factor of more than 2 to 1.
Image Source: Zacks Investment Research
Marathon Petroleum’s earnings revisions have surged since its Q2 release in early August as the macro conditions surrounding its industry lead to soaring profits. MPC’s FY26 estimate surged 43% since its Q2 release, with its FY27 estimate 46% higher. Its upbeat EPS outlook helps MPC land its Zacks Rank #1 (Strong Buy).
The oil refining powerhouse is projected to expand its earnings by 340% in 2026 to climb to $47.23 per share vs. $10.70 last year. And its growth is likely to come in even stronger, considering that its most accurate EPS estimate for 2026 came in 26% above the current consensus and 64% higher for 2027.
Image Source: Zacks Investment Research
MPC stock has soared ~2,800% over the last 15 years to crush the S&P 500’s ~630% and its highly ranked Oil and Gas - Refining and Marketing industry’s ~470%. Despite trading at all time highs, the oil and gas stock trades in-line with its 15-year median, ~80% below its highs, and slightly below its industry at 9.6X forward 12-month earnings.
Long-term investors should consider buying Marathon Petroleum stock for value, growth, dividends, and more. It is also worth stressing that even tech-focused investors should remember that oil and gas remains a critical driving force of the economy, and the best-in-class stocks in the space are key to creating a successfully diversified portfolio.
Get the rest of the stocks on this list and start looking for the newest companies that fit these criteria. It's easy to do. And it could help you find your next big winner. Start screening for these companies today with a free trial to the Research Wizard. You can do it.
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Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: www.zacks.com/performance_disclosure
Building a successful investment portfolio takes skill and hard work, no matter if you're a growth, value, income, or momentum-focused investor.
But how do you find the right combination of stocks? Funding your retirement, your kids' college tuition, or your short- and long-term savings goals certainly requires significant returns.
Enter the Zacks Rank.
What is the Zacks Rank?The Zacks Rank is a unique, proprietary stock-rating model that utilizes earnings estimate revisions to help investors build a winning portfolio.
There are four main factors behind the Zacks Rank: Agreement, Magnitude, Upside, and Surprise.
Agreement is the extent to which all brokerage analysts are revising their earnings estimates in the same direction. The greater the percentage of analysts revising their estimates higher, the better chance the stock will outperform.
Magnitude is the size of the recent change in the consensus estimate for the current and next fiscal years.
Upside is the difference between the most accurate estimate, which is calculated by Zacks, and the consensus estimate.
Surprise is made up of a company's last few quarters' earnings per share surprises; companies with a positive earnings surprise are more likely to beat expectations in the future.
These four factors are assigned a raw score that's recalculated every night, which is then compiled into the ranking system. Stocks are classified into five groups using this data, ranging from "Strong Buy" to "Strong Sell."
The Power of Institutional InvestorsThe Zacks Rank also allows individual investors, or retail investors, to benefit from the power of institutional investors.
Institutional investors are responsible for managing the trillions of dollars invested in mutual funds, hedge funds, and investment banks. Research has shown that these investors can and do move the market due to the large amount of money they deal with, and thus, the market tends to move in the same direction as them.
In order to determine the fair value of a company and its shares, institutional investors design valuation models that focus on earnings and earnings estimates. Because if you raise earnings estimates, it then creates a higher fair value for a company and its stock price.
Institutional investors will use these changes to help in their decision-making, typically buying stocks with rising estimates and selling those with falling estimates. Higher earnings expectations can translate into a rise in stock price and bigger gains for the investor.
Because it can take a long time for an institutional investor to build a position--sometimes weeks, if not months--retail investors who get in at the first sign of upward revisions have a distinct advantage over these larger investors, and can benefit from the expected institutional buying that will follow.
Not only can the Zacks Rank help you take advantage of trends in earnings estimate revisions, but it can also provide a way to get into stocks that are highly sought after by professionals.
How to Invest with the Zacks RankThe Zacks Rank is known for transforming investment portfolios. In fact, a portfolio of Zacks Rank #1 (Strong Buy) stocks has beaten the market in 26 of the last 32 years, with an average annual return of +23.8%.
Moreover, stocks with a new #1 (Strong Buy) ranking have some of the biggest profit potential, while those that fell to a #4 (Sell) or #5 (Strong Sell) have some of the worst.
Let's take a look at Marathon Petroleum (MPC - Free Report) , which was added to the Zacks Rank #1 list on September 5, 2026. Findlay, OH-based Marathon Petroleum Corporation is a leading independent refiner, transporter and marketer of petroleum products. The company, in its current form, came into existence following the 2011 spin-off of Houston, TX-based Marathon Oil Corporation’s refining/sales business into a separate, independent and publicly traded entity. In October 2018, Marathon Petroleum completed the acquisition of its rival Andeavor in a $23.3 billion deal, thereby becoming the nationwide largest refining company by market capitalization. The deal also made the company the largest U.S. refiner and the fifth largest in the world by capacity.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $14.27 to $47.23 per share. MPC boasts an average earnings surprise of 49.3%.
Analysts are expecting earnings to grow 341.4% for the current fiscal year, with revenue forecasted to rise 15.5%.
Even more impressive, MPC has gained in value over the past four weeks, up 30.4% compared to the S&P 500's loss of 0.1%.
Bottom LineWith a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Marathon Petroleum should be on investors' shortlist.
If you want even more information on the Zacks Ranks, or one of our many other investing strategies, check out the Zacks Education home page.
Discover Today's Top StocksOur private Zacks #1 Rank List, based on our quantitative Zacks Rank stock-rating system, has more than doubled the S&P 500 since 1988. Applying the Zacks Rank in your own trading can boost your investing returns on your very next trade. See Today's Zacks #1 Rank List >>
Marathon Petroleum (MPC - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Over the past month, shares of this refiner have returned +30.4%, compared to the Zacks S&P 500 composite's -0.1% change. During this period, the Zacks Oil and Gas - Refining and Marketing industry, which Marathon Petroleum falls in, has gained 17.8%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
For the current quarter, Marathon Petroleum is expected to post earnings of $18.99 per share, indicating a change of +530.9% from the year-ago quarter. The Zacks Consensus Estimate has changed +1.5% over the last 30 days.
The consensus earnings estimate of $47.23 for the current fiscal year indicates a year-over-year change of +341.4%. This estimate has changed +2.5% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $37.55 indicates a change of -20.5% from what Marathon Petroleum is expected to report a year ago. Over the past month, the estimate has changed +8.4%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Marathon Petroleum.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For Marathon Petroleum, the consensus sales estimate for the current quarter of $32.84 billion indicates a year-over-year change of -8.4%. For the current and next fiscal years, $156.14 billion and $131.46 billion estimates indicate +15.5% and -15.8% changes, respectively.
Last Reported Results and Surprise HistoryMarathon Petroleum reported revenues of $52.34 billion in the last reported quarter, representing a year-over-year change of +53.5%. EPS of $17.73 for the same period compares with $3.96 a year ago.
Compared to the Zacks Consensus Estimate of $34.83 billion, the reported revenues represent a surprise of +50.26%. The EPS surprise was +22.11%.
Over the last four quarters, Marathon Petroleum surpassed consensus EPS estimates three times. The company topped consensus revenue estimates each time over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Marathon Petroleum is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Marathon Petroleum. However, its Zacks Rank #1 does suggest that it may outperform the broader market in the near term.
Key Takeaways Marathon Petroleum jumped 138.6% YTD, powered by strong refining execution and record-high momentum.MPC achieved 112% second-quarter R&M margin capture, with unplanned downtime at a decade low.MPC returned over $2.8 billion to shareholders as MPLX added stable, growing midstream cash flows. Refining stocks have quietly emerged as one of 2026’s standout trades, with Marathon Petroleum Corporation (MPC - Free Report) leading the charge. As one of the largest U.S. refiners, MPC has secured a spot among the top 10 best-performing companies in the S&P 500 and ranks as the best-performing Oil/Energy stock, delivering an impressive 138.6% return since the start of the year. The stock has also repeatedly surpassed its previous all-time highs, underscoring its remarkable momentum and investor appeal.
Marathon Petroleum has outperformed major refining peers, including Valero Energy Corporation (VLO - Free Report) and Phillips 66 (PSX - Free Report) , whose shares gained 127.6% and 97.3%, respectively, over the same period.
Image Source: Zacks Investment Research
The sharp rise in MPC’s stock price highlights the success of its strategic initiatives and its resilience in navigating a challenging market environment.
However, after such a sharp rally, investors are left wondering whether the stock still offers meaningful upside. Let’s delve deeper.
MPC Outperforms Benchmark Refining EconomicsA key reason to favor MPC is that its earnings are increasingly driven by strong operational execution, rather than relying solely on favorable commodity prices. In the second quarter, Marathon Petroleum achieved an R&M margin capture rate of 112%, bringing first-half capture to 108%. Management attributed the strong performance to crude optimization, robust clean-product margins and effective commercial and operational execution.
Operational reliability also improved significantly, with year-to-date unplanned downtime at its lowest level in a decade. Gulf Coast refinery utilization reached 100% in the second quarter, while MPC generated more than $1 billion in R&M margin capture across its system.
MPC processed nearly 3 million barrels per day at 94% utilization, with Gulf Coast and West Coast operations each delivering more than $27 per barrel of R&M-adjusted EBITDA. Its extensive logistics network provides access to diverse crude supplies, including Venezuelan and Western Canadian crude, supporting feedstock flexibility and profitability through changing market conditions.
Valero Energy offers similar strong exposure to refining and can benefit from tight refined-product markets. Phillips 66 has a somewhat more diversified business model, with exposure to refining, midstream and chemicals.
High-Return Refinery Investments Add Earnings PotentialMPC is selectively investing in projects aimed at increasing yields, improving product flexibility and strengthening refinery competitiveness, providing potential upside beyond the current refining cycle.
During the second quarter, MPC completed its El Paso yield improvement and Robinson product flexibility projects. The El Paso upgrades to the FCC and alkylation units are expected to support higher volumes and strengthen its position across the El Paso, Phoenix and Mexico markets. Meanwhile, the Robinson project adds approximately 10,000 barrels per day of incremental jet fuel capacity. Management expects these projects to generate returns of 25% or higher.
MPC also has a significant project pipeline, including a 90,000-barrel-per-day distillate hydrotreater at Galveston Bay and feedstock optimization at Garyville that could raise crude throughput by 30,000 barrels per day.
Importantly, MPC expects 2026 standalone capital spending of $1.5 billion, with about 65% allocated to value-enhancing projects, underscoring disciplined capital allocation and potential long-term earnings growth.
MPC’s Cash Flow and MPLX Strengthen Shareholder ReturnsMPC’s investment case benefits from a powerful combination of refining upside, strong cash generation and growing midstream cash flows through MPLX. In the second quarter, MPC generated $8.46 billion in adjusted EBITDA and about $6.6 billion in operating cash flow, excluding working-capital changes. The company returned more than $2.8 billion to its shareholders, including $2.5 billion in share repurchases.
MPC also maintains significant financial flexibility, with about $7.8 billion of consolidated cash and no borrowings under its $5 billion revolving credit facility. Excluding MPLX, liquidity stood at approximately $11.7 billion, while $6.1 billion remained under the share repurchase authorization.
Meanwhile, MPLX provides a more stable source of cash flow. Its 2026 growth capital was raised to $2.9 billion, with mid-single-digit adjusted EBITDA growth expected. Investments across the Permian and Marcellus are expected to support 12.5% annual distribution growth in 2026 and 2027. This diversified cash-flow base can support dividends, buybacks and long-term shareholder value.
MPC's Positive Earnings MomentumOver the past 60 days, the Zacks Consensus Estimate for Marathon Petroleum’s 2026 earnings rose 41.6% to $46.66 per share, while the same for 2027 increased 36% to $35.01. The upward revisions indicate that analysts are becoming more confident in the company's earnings potential.
Image Source: Zacks Investment Research
Challenges for Marathon Petroleum StockMPC’s biggest risk is that today’s exceptional refining margins may not last. R&M EBITDA surged, but margins could weaken as outages decline and product supplies improve. Geopolitical disruptions and tight diesel markets may also ease. Additionally, expected $290 million in third-quarter turnaround costs could pressure margins, leaving the stock vulnerable. Furthermore, MPC’s valuation, trading at a forward price-to-sales ratio of 0.81, reflects a premium when compared with Valero Energy and Phillips 66.
Image Source: Zacks Investment Research
Conclusion: MPC Still a BuyThis Zacks Rank #2 (Buy) company remains an attractive investment with its sharp 138.6% year-to-date surge, ahead of its competitors — Valero Energy and Phillips 66. Strong operational execution, a high second-quarter R&M margin capture rate and decade-low unplanned downtime highlight the company’s improving efficiency. High-return refinery projects, disciplined capital allocation and robust cash generation provide additional upside, while MPLX adds stability through growing midstream cash flows.
However, cyclical refining margins, turnaround costs and a premium valuation pose risks. Overall, Marathon Petroleum stands out as a good investment opportunity for investors seeking strong fundamentals and shareholder returns, provided they can tolerate geopolitical and commodity-driven risks.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways VLO, PBF and MPC have more than doubled YTD as tight fuel markets continue to support refining margins.Low inventories, refinery outages and healthy transportation-fuel demand are keeping product markets tight.Refining conditions may stay favorable as damaged capacity and low inventories take time to recover. Oil and Gas - Refining and Marketing stocks have been among the strongest performers in 2026, helped by a favorable environment for refiners. Conflicts in the Middle East and Russia have disrupted refinery operations and reduced the supply of gasoline, diesel and jet fuel globally. At the same time, demand for transportation fuels has remained healthy. This combination of limited supply and steady demand has strengthened refining margins. Despite the sharp year-to-date rally, the downstream industry backdrop remains supportive, as rebuilding fuel inventories and restoring damaged refining capacity could take considerable time.
Against this backdrop, Valero Energy (VLO - Free Report) , PBF Energy (PBF - Free Report) and Marathon Petroleum (MPC - Free Report) stand out. All three stocks have more than doubled year to date, but favorable conditions across the refining and marketing space suggest that their strong run may still have further room to continue.
YTD Price Performance
Image Source: Zacks Investment Research
Why the Downstream Space Remains AttractiveLess Refining Capacity is Keeping Fuel Supply Tight:Conflicts in the Middle East and Russia have forced several refineries to reduce or halt operations. Global planned and unexpected refining outages have risen well above normal levels, while some facilities have suffered physical damage that could take considerable time to repair. With fewer refineries available to turn crude oil into gasoline, diesel and other fuels, product supplies are likely to remain tight. This should continue to support the broader downstream and refining and marketing space.
Fuel Inventories are Low While Demand Remains Healthy:Global supplies of gasoline, diesel and other refined products in storage have fallen considerably and remain well below normal levels. At the same time, demand for gasoline, diesel and jet fuel continues to hold up well in both U.S. and international markets. This combination of low inventories and healthy demand is keeping fuel markets tight. As a result, refiners should continue to benefit from favorable product prices and supportive refining and marketing margins.
Favorable Conditions Could Last Beyond the Current Disruptions:The strength in the downstream industry may not disappear quickly even if geopolitical tensions ease. Fuel inventories are expected to take considerable time to return to normal, while damaged refining infrastructure could keep global capacity constrained. Industry expectations also point to a stronger-than-usual refining environment extending into 2027, supported by tight supply-demand conditions and the rising cost of adding or operating refining capacity. Greater availability of Canadian and Venezuelan crude could provide an additional advantage for U.S. refiners.
The Rally May Not Be Over YetDespite having jumped more than 100% so far this year, Marathon Petroleum, Valero and PBF continue to carry a Zacks Rank #1 (Strong Buy) or #2 (Buy). With fuel supplies tight, inventories low and demand holding up well, the refining and marketing space still has a favorable outlook. These conditions suggest that the three stocks could remain attractive choices even after their substantial gains. You can see the complete list of today’s Zacks #1 Rank stocks here.
Valero Energy: Valero Energy is a major downstream energy company focused on refining, renewable diesel and ethanol. Its refining network has about 2.5 million barrels per day of crude capacity, with a large presence on the U.S. Gulf Coast. Valero also operates 12 ethanol plants and participates in renewable diesel through Diamond Green Diesel, giving it a broader fuels portfolio.
Valero’s flexible refineries can process different crude types and are supported by logistics and marketing operations. This should help the #1 Ranked company gain from low fuel inventories, limited excess refining capacity and steady transportation-fuel demand. Access to U.S., Canadian and Venezuelan crude provides an advantage in the current market.
Over the past 60 days, the Zacks Consensus Estimate for Valero Energy’s 2026 earnings has moved up 31.1% and indicates 283.6% growth from the year-ago reported number.
PBF Energy:PBF Energy has refining operations across the East Coast, Mid-Continent, Gulf Coast and West Coast. Its system includes facilities such as Torrance, Martinez, Chalmette, Paulsboro and Toledo, supported by logistics operations. PBF also has exposure to renewable diesel through its St. Bernard Renewables joint venture.
This regional footprint allows PBF to serve several fuel markets and respond to changing supply conditions. The Zacks #1 Ranked company should benefit from tight gasoline, diesel and jet-fuel inventories, reduced global refining capacity and healthy demand. Management is also working to improve refinery reliability, energy efficiency and costs, which could help it capture more value from strong refining margins.
PBF Energy’s expected EPS growth rate for three to five years is currently 56%, which compares favorably with the industry's growth rate of 31%. Over the past 60 days, the Zacks Consensus Estimate for the company’s 2026 earnings has gone up 67.8%.
Marathon Petroleum: Marathon Petroleum is a U.S. downstream energy company with a large refining and marketing system spread across the Gulf Coast, Mid-Continent and West Coast. Its operations are supported by extensive crude pipelines and logistics, while midstream unit MPLX adds a sizeable business. Marathon Petroleum also has renewable diesel operations, giving it exposure beyond traditional fuels.
The company is well-positioned in today’s tight refining market because its system can process advantaged crude and adjust production toward higher-value fuels. Low gasoline and diesel inventories, strong demand and reduced global refining capacity should support margins. Its scale, flexibility and integrated network also help MPC capture opportunities across different regions.
Marathon Petroleum beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other, with the average being 49.3%. Over the past 60 days, the Zacks Consensus Estimate for the company’s 2026 earnings has gone up 41.6%. MPC carries a Zacks Rank of 2.
It has been about a month since the last earnings report for Marathon Petroleum (MPC - Free Report) . Shares have added about 30% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Marathon Petroleum due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Marathon Petroleum Q2 Earnings Beat on Strong Refining MarginsMarathon Petroleum reported second-quarter 2026 earnings of $17.73 per share, which beat the Zacks Consensus Estimate of $14.52 by 22.1%. Earnings per share also surged 347.7% from the year-ago level of $3.96 per share, primarily reflecting significantly stronger Refining & Marketing performance.
Findlay, OH-based Marathon Petroleum reported revenues and other income of $52.34 billion, up 53.5% year over year and above the Zacks Consensus Estimate of $34.83 billion by 50.3%. Refining & Marketing margin rose sharply to $36.33 per barrel from $17.58 a year ago, and also beat our consensus mark by 11.17%
Inside Marathon Petroleum’s SegmentsRefining & Marketing (R&M): This segment reported adjusted EBITDA of $6.66 billion, up significantly from $1.89 billion in the year-ago quarter, and the reported figure was also 14.75% above our consensus estimate. The improvement primarily reflected higher crack spreads across all regions. Adjusted EBITDA per barrel increased to $24.84 from $6.79 a year earlier.
Midstream: This unit mainly reflects Marathon Petroleum’s general partner and majority limited partner interests in MPLX LP — a publicly traded master limited partnership that owns, operates, develops and acquires pipelines and other midstream assets.
Segment adjusted EBITDA was $1.78 billion, up 8.3% from $1.64 billion in the second quarter of 2025, and the reported figure was also 5.51% above our consensus estimate. This increase was primarily driven by higher rates and throughputs, including contributions from equity affiliates and acquisitions, partly offset by the divestiture of non-core gathering and processing assets.
Renewable Diesel: The Renewable Diesel segment reported adjusted EBITDA of $258 million against a loss of $19 million in the corresponding period of 2025, and the reported figure was also 186.45% above our consensus estimate. The improvement reflected a stronger margin environment, higher throughputs and improved regulatory credit values.
Renewable Diesel margin increased to $321 million from $49 million a year ago. Following the completion of the Martinez turnaround in the first quarter, utilization reached 95% in the reported quarter. Management also highlighted feedstock optimization as a contributor to the segment's performance.
MPC's Refining Operating MetricsCrude capacity utilization during the quarter was 94% compared with 97% in the year-ago period. Net refinery throughput was 2,944 thousand barrels per day (mbpd), down from 3,060 mbpd a year earlier. However, refined product sales volumes increased slightly to 3,842 mbpd from 3,835 mbpd.
MPC achieved Refining & Marketing margin capture of 112%. Management attributed the strong capture to crude sourcing and optimization, inventory discipline, favorable clean-product margins and higher jet production. Refining operating costs increased to $5.72 per barrel from $5.34, while planned turnaround costs totaled $275 million compared with $250 million a year ago.
Financial AnalysisMarathon Petroleum reported total costs and expenses of $45.02 billion in the second quarter of 2026 compared with $31.90 billion in the year-ago period. Capital expenditures and investments totaled $1.39 billion, up from $1.07 billion a year earlier, with $1.02 billion directed toward the Midstream segment.
As of June 30, 2026, the company had cash and cash equivalents of $7.77 billion and total consolidated debt of $32.82 billion, with a debt-to-capitalization of 56.1%. MPC returned more than $2.8 billion of capital to its shareholders during the quarter, including $2.53 billion in share repurchases. The company had $6.1 billion remaining under its share repurchase authorizations.
MPC's 2026 capital spending outlook, excluding MPLX, remains $1.5 billion. Approximately 65% of the planned spending is focused on value-enhancing investments, while the remaining 35% is allocated to sustaining operations.
During the second quarter, the El Paso yield improvement and Robinson product flexibility investments were placed in service. The Robinson project enables approximately 10,000 barrels per day of incremental jet fuel production, while the El Paso investment enhances the refinery's ability to produce specialty gasoline for key markets.
GuidanceFor the third quarter of 2026, MPC expects crude oil throughput of 2,820 mbpd and total refinery throughput of 3,005 mbpd. Refinery utilization is projected at 94%.
The company expects refining operating costs of $5.60 per barrel, distribution costs of $1.65 billion and planned turnaround costs of $290 million. Corporate expenses are projected at $260 million, including approximately $30 million of depreciation and amortization.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in estimates revision.
VGM ScoresCurrently, Marathon Petroleum has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. However, the stock has a grade of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook Marathon Petroleum has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry PlayerMarathon Petroleum belongs to the Zacks Oil and Gas - Refining and Marketing industry. Another stock from the same industry, PBF Energy (PBF - Free Report) , has gained 23.4% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
PBF Energy reported revenues of $11.68 billion in the last reported quarter, representing a year-over-year change of +56.2%. EPS of $6.22 for the same period compares with -$1.03 a year ago.
For the current quarter, PBF Energy is expected to post earnings of $6.84 per share, indicating a change of +1415.4% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
PBF Energy has a Zacks Rank #1 (Strong Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.
Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
One company value investors might notice is Marathon Petroleum (MPC - Free Report) . MPC is currently sporting a Zacks Rank #2 (Buy) and an A for Value.
Another notable valuation metric for MPC is its P/B ratio of 2.45. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 5.01. Within the past 52 weeks, MPC's P/B has been as high as 2.45 and as low as 1.60, with a median of 2.06.
Finally, investors will want to recognize that MPC has a P/CF ratio of 10.51. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 10.83. MPC's P/CF has been as high as 10.51 and as low as 5.42, with a median of 7.23, all within the past year.
Value investors will likely look at more than just these metrics, but the above data helps show that Marathon Petroleum is likely undervalued currently. And when considering the strength of its earnings outlook, MPC sticks out as one of the market's strongest value stocks.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Marathon Petroleum (MPC - Free Report) .
Marathon Petroleum currently has an average brokerage recommendation (ABR) of 1.97, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 19 brokerage firms. An ABR of 1.97 approximates between Strong Buy and Buy.
Of the 19 recommendations that derive the current ABR, eight are Strong Buy and three are Buy. Strong Buy and Buy respectively account for 42.1% and 15.8% of all recommendations.
Brokerage Recommendation Trends for MPC
Check price target & stock forecast for Marathon Petroleum here>>>
The ABR suggests buying Marathon Petroleum, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.
This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
ABR Should Not Be Confused With Zacks RankIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.
There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.
Is MPC Worth Investing In?In terms of earnings estimate revisions for Marathon Petroleum, the Zacks Consensus Estimate for the current year has increased 8% over the past month to $46.66.
Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Marathon Petroleum. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, the Buy-equivalent ABR for Marathon Petroleum may serve as a useful guide for investors.
Ancora Advisors LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 8,918 shares of the oil and gas company’s stock, valued at approximately $2,280,000.
Several other institutional investors and hedge funds also recently modified their holdings of MPC. Solstein Capital LLC acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $26,000. Bell Investment Advisors Inc bought a new stake in shares of Marathon Petroleum during the second quarter worth approximately $27,000. Navalign LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $31,000. Finally, Berbice Capital Management LLC increased its stake in shares of Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 100 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.
Marathon Petroleum Stock Performance Shares of Marathon Petroleum stock opened at $362.70 on Thursday. The firm has a market capitalization of $105.89 billion, a P/E ratio of 12.47, a P/E/G ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $367.60. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The company’s 50 day moving average price is $303.95 and its two-hundred day moving average price is $258.31.
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the prior year, the business posted $3.96 earnings per share. Marathon Petroleum’s quarterly revenue was up 53.5% on a year-over-year basis. On average, equities analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year. Marathon Petroleum Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum’s dividend payout ratio is currently 13.75%.
Analyst Upgrades and Downgrades MPC has been the subject of a number of research reports. TD Cowen lifted their target price on Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Bank of America raised their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Weiss Ratings upgraded shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the company a “buy” rating in a report on Sunday, July 12th. Finally, Citigroup increased their target price on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $312.50.
Read Our Latest Stock Analysis on Marathon Petroleum
Insider Buying and Selling In related news, insider Molly R. Benson sold 17,196 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the sale, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 26,032 shares of company stock worth $8,744,213. 0.17% of the stock is owned by company insiders.
Marathon Petroleum Profile (Free Report)
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Marathon Petroleum (MPC - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Marathon Petroleum is one of 252 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Marathon Petroleum is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MPC's full-year earnings has moved 55.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MPC has returned 122.8% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 29.1% on average. This means that Marathon Petroleum is performing better than its sector in terms of year-to-date returns.
PBF Energy (PBF - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 157.1%.
For PBF Energy, the consensus EPS estimate for the current year has increased 134.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Marathon Petroleum is a member of the Oil and Gas - Refining and Marketing industry, which includes 16 individual companies and currently sits at #20 in the Zacks Industry Rank. This group has gained an average of 109.8% so far this year, so MPC is performing better in this area. PBF Energy is also part of the same industry.
Investors with an interest in Oils-Energy stocks should continue to track Marathon Petroleum and PBF Energy. These stocks will be looking to continue their solid performance.
Denali Advisors LLC trimmed its position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 21.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,723 shares of the oil and gas company’s stock after selling 2,101 shares during the quarter. Denali Advisors LLC’s holdings in Marathon Petroleum were worth $1,975,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. NewEdge Wealth LLC purchased a new position in Marathon Petroleum in the second quarter valued at approximately $1,398,000. Empirical Asset Management LLC purchased a new stake in Marathon Petroleum during the second quarter worth approximately $729,000. Great Lakes Advisors LLC acquired a new stake in shares of Marathon Petroleum in the second quarter worth $1,648,000. Compass Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the second quarter worth $201,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at $56,000. 76.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In MPC has been the subject of a number of research reports. Morgan Stanley upped their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Weiss Ratings raised Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Barclays boosted their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Jefferies Financial Group set a $335.00 target price on Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. Finally, Evercore set a $330.00 price target on Marathon Petroleum in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $312.50.
Read Our Latest Analysis on MPC Marathon Petroleum Stock Up 1.5% Shares of Marathon Petroleum stock opened at $369.00 on Friday. The business has a 50-day moving average of $308.87 and a 200-day moving average of $260.20. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The company has a market capitalization of $107.73 billion, a PE ratio of 12.68, a P/E/G ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $369.12.
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.96 earnings per share. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s payout ratio is currently 13.75%.
Insider Buying and Selling at Marathon Petroleum In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Molly R. Benson sold 17,196 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the transaction, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,032 shares of company stock valued at $8,744,213 in the last three months. Corporate insiders own 0.17% of the company’s stock.
Marathon Petroleum Profile (Free Report)
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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Freestone Grove Partners LP bought a new stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,113 shares of the oil and gas company’s stock, valued at approximately $1,307,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Marathon Petroleum during the second quarter valued at approximately $6,648,958,000. State Street Corp boosted its holdings in shares of Marathon Petroleum by 0.3% in the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after purchasing an additional 47,896 shares in the last quarter. Boston Partners increased its stake in shares of Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after purchasing an additional 141,691 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at $1,029,611,000. Finally, Norges Bank acquired a new position in shares of Marathon Petroleum during the 4th quarter worth $472,312,000. Institutional investors own 76.77% of the company’s stock.
Analyst Ratings Changes MPC has been the topic of several research analyst reports. Barclays raised their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. UBS Group reissued a “buy” rating and set a $321.00 target price on shares of Marathon Petroleum in a research note on Friday, July 10th. Piper Sandler increased their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Bank of America raised their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Finally, Evercore set a $330.00 price target on shares of Marathon Petroleum in a report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average price target of $312.50.
View Our Latest Research Report on Marathon Petroleum Marathon Petroleum Trading Up 1.5% Shares of MPC stock opened at $369.00 on Friday. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $369.12. The stock’s fifty day simple moving average is $308.87 and its 200 day simple moving average is $260.20. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $107.73 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.24 and a beta of 0.52.
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period last year, the company earned $3.96 earnings per share. The business’s quarterly revenue was up 53.5% on a year-over-year basis. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum’s dividend payout ratio is currently 13.75%.
Insider Activity at Marathon Petroleum In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of Marathon Petroleum stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the transaction, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. This trade represents a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,032 shares of company stock worth $8,744,213 in the last quarter. 0.17% of the stock is owned by insiders.
Marathon Petroleum Company Profile (Free Report)
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Marathon Petroleum (MPC - Free Report) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Marathon Petroleum currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market? In order to see if MPC is a promising momentum pick, let's examine some Momentum Style elements to see if this refiner holds up.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For MPC, shares are up 1.49% over the past week while the Zacks Oil and Gas - Refining and Marketing industry is up 2.28% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 16.65% compares favorably with the industry's 9.45% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Marathon Petroleum have increased 45% over the past quarter, and have gained 111.1% in the last year. On the other hand, the S&P 500 has only moved 3.37% and 21.73%, respectively.
Investors should also pay attention to MPC's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. MPC is currently averaging 2,419,065 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with MPC.
Over the past two months, 5 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost MPC's consensus estimate, increasing from $32.27 to $46.66 in the past 60 days. Looking at the next fiscal year, 4 estimates have moved upwards while there have been 1 downward revision in the same time period.
Bottom LineTaking into account all of these elements, it should come as no surprise that MPC is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Marathon Petroleum on your short list.
Bank of Nova Scotia acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 113,403 shares of the oil and gas company’s stock, valued at approximately $28,993,000.
Several other hedge funds and other institutional investors also recently modified their holdings of MPC. BlackRock Inc. bought a new stake in Marathon Petroleum in the second quarter valued at about $6,648,958,000. State Street Corp lifted its holdings in Marathon Petroleum by 0.3% during the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after buying an additional 47,896 shares during the last quarter. Boston Partners grew its position in shares of Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after acquiring an additional 141,691 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Marathon Petroleum in the 2nd quarter worth approximately $1,029,611,000. Finally, Norges Bank bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $472,312,000. Institutional investors own 76.77% of the company’s stock.
Analysts Set New Price Targets Several equities research analysts recently issued reports on MPC shares. Barclays upped their price target on Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Citigroup increased their target price on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. The Goldman Sachs Group raised their price target on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Raymond James Financial boosted their price objective on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.
Get Our Latest Research Report on Marathon Petroleum Insider Transactions at Marathon Petroleum In related news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by corporate insiders.
Marathon Petroleum Trading Up 0.4% NYSE:MPC opened at $362.18 on Monday. The firm has a market capitalization of $105.73 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.23 and a beta of 0.52. The business has a 50 day simple moving average of $297.25 and a 200 day simple moving average of $254.78. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $367.60.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same period last year, the company earned $3.96 earnings per share. Equities research analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.
Marathon Petroleum Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s payout ratio is 13.75%.
Marathon Petroleum Company Profile (Free Report)
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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Callan Family Office LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 15,025 shares of the oil and gas company’s stock, valued at approximately $3,841,000.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Marathon Petroleum in the second quarter worth about $6,648,958,000. Bank of New York Mellon Corp bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at about $1,029,611,000. Norges Bank purchased a new stake in Marathon Petroleum during the 4th quarter valued at about $472,312,000. Capital Wealth Planning LLC boosted its holdings in Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after acquiring an additional 1,495,097 shares during the period. Finally, Pacer Advisors Inc. grew its position in Marathon Petroleum by 3,816.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after acquiring an additional 1,273,386 shares during the last quarter. 76.77% of the stock is owned by institutional investors.
Marathon Petroleum Price Performance MPC stock opened at $362.18 on Friday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The company has a market cap of $105.73 billion, a P/E ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52. The firm has a 50-day moving average of $297.25 and a 200 day moving average of $254.23. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same period last year, the business posted $3.96 earnings per share. Marathon Petroleum’s quarterly revenue was up 53.5% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year. Marathon Petroleum Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.
Wall Street Analyst Weigh In A number of equities analysts have commented on MPC shares. The Goldman Sachs Group lifted their price target on Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Evercore set a $330.00 target price on shares of Marathon Petroleum in a report on Wednesday, August 5th. Mizuho lifted their target price on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Piper Sandler lifted their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Raymond James Financial upped their price target on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $312.50.
Check Out Our Latest Stock Report on Marathon Petroleum
Insider Activity at Marathon Petroleum In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company’s stock.
Marathon Petroleum Profile (Free Report)
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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Blue Capital Inc. bought a new stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,242 shares of the oil and gas company’s stock, valued at approximately $829,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Bell Investment Advisors Inc acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $27,000. Frazier Financial Advisors LLC acquired a new stake in Marathon Petroleum in the second quarter valued at $36,000. Main Street Group LTD bought a new position in Marathon Petroleum during the 1st quarter valued at $35,000. Cedar Mountain Advisors LLC bought a new position in Marathon Petroleum during the 1st quarter valued at $40,000. Finally, Navalign LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $30,000. 76.77% of the stock is owned by hedge funds and other institutional investors.
Marathon Petroleum Stock Up 1.1% NYSE MPC opened at $362.18 on Friday. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60. The company has a market capitalization of $105.73 billion, a P/E ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52. The company’s 50 day simple moving average is $297.25 and its 200 day simple moving average is $254.23. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company’s quarterly revenue was up 53.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.96 EPS. Equities research analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year. Marathon Petroleum Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.
Insider Activity at Marathon Petroleum In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. The trade was a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.
Wall Street Analysts Forecast Growth A number of research firms recently commented on MPC. Morgan Stanley lifted their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Bank of America boosted their price target on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. TD Cowen upped their price target on Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.50.
Read Our Latest Research Report on MPC
(Free Report)
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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Advisors Capital Management LLC purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,434 shares of the oil and gas company’s stock, valued at approximately $1,134,000.
Several other hedge funds have also recently bought and sold shares of MPC. Bell Investment Advisors Inc acquired a new stake in shares of Marathon Petroleum in the second quarter valued at $27,000. Frazier Financial Advisors LLC acquired a new position in Marathon Petroleum during the 2nd quarter worth about $36,000. Main Street Group LTD bought a new stake in Marathon Petroleum during the 1st quarter worth about $35,000. Cedar Mountain Advisors LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at about $40,000. Finally, Navalign LLC acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $30,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets A number of equities research analysts have recently weighed in on MPC shares. Weiss Ratings upgraded Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. TD Cowen lifted their price objective on Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Citigroup boosted their price objective on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Raymond James Financial lifted their price objective on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.50.
Read Our Latest Stock Analysis on MPC Marathon Petroleum Stock Performance MPC opened at $362.18 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $367.60. The business has a 50 day moving average of $297.25 and a 200-day moving average of $254.23. The stock has a market cap of $105.73 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.96 earnings per share. On average, equities research analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.
Marathon Petroleum Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.
Insiders Place Their Bets In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the transaction, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by insiders.
Marathon Petroleum Company Profile (Free Report)
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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Stock to Watch: Marathon Petroleum (MPC - Free Report) Findlay, OH-based Marathon Petroleum Corporation is a leading independent refiner, transporter and marketer of petroleum products. The company, in its current form, came into existence following the 2011 spin-off of Houston, TX-based Marathon Oil Corporation’s refining/sales business into a separate, independent and publicly-traded entity. In October 2018, Marathon Oil completed the acquisition of its rival Andeavor in a $23.3 billion deal, thereby becoming the nationwide largest refining company by market capitalization. The deal also made the company the largest U.S. refiner and the fifth largest in the world by capacity.
MPC is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 7.68; value investors should take notice.
For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $15.31 to $46.66 per share. MPC boasts an average earnings surprise of +49.3%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, MPC should be on investors' short list.
Bank of New York Mellon Corp bought a new stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,027,107 shares of the oil and gas company’s stock, valued at approximately $1,029,611,000. Bank of New York Mellon Corp owned 1.38% of Marathon Petroleum at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of MPC. Main Street Group LTD bought a new position in Marathon Petroleum during the 1st quarter worth approximately $35,000. Cedar Mountain Advisors LLC bought a new position in shares of Marathon Petroleum during the first quarter worth $40,000. Navalign LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth $31,000. Finally, Berbice Capital Management LLC increased its holdings in shares of Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In MPC has been the subject of several research analyst reports. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Citigroup upped their price objective on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their target price on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Finally, UBS Group reissued a “buy” rating and issued a $321.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 10th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $312.50.
Get Our Latest Stock Report on MPC Insider Transactions at Marathon Petroleum In other news, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.
Marathon Petroleum Stock Down 0.6% NYSE:MPC opened at $358.71 on Friday. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60. The firm has a market capitalization of $104.72 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The stock’s 50 day moving average price is $295.27 and its two-hundred day moving average price is $253.47.
Marathon Petroleum (NYSE:MPC – Get Free Report) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same period last year, the business earned $3.96 earnings per share. The firm’s revenue was up 53.5% on a year-over-year basis. Equities research analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.
Marathon Petroleum Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.
Marathon Petroleum Company Profile (Free Report)
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
Read More Five stocks we like better than Marathon Petroleum 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC – Free Report).
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Allworth Financial LP purchased a new position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,795 shares of the oil and gas company’s stock, valued at approximately $4,550,000.
Other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after buying an additional 1,178 shares during the period. Woodline Partners LP lifted its holdings in Marathon Petroleum by 38.3% in the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after acquiring an additional 7,396 shares during the period. Sivia Capital Partners LLC lifted its holdings in Marathon Petroleum by 26.6% in the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after acquiring an additional 466 shares during the period. Marshall Wace LLP purchased a new stake in Marathon Petroleum in the 2nd quarter worth approximately $8,505,000. Finally, AXA S.A. grew its stake in shares of Marathon Petroleum by 46.7% during the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock worth $6,590,000 after purchasing an additional 12,639 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth MPC has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Marathon Petroleum from $344.00 to $359.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Barclays increased their price target on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. The Goldman Sachs Group boosted their price objective on Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Raymond James Financial upped their target price on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, Morgan Stanley increased their target price on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $312.50.
Check Out Our Latest Research Report on Marathon Petroleum Insider Transactions at Marathon Petroleum In other news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.
Marathon Petroleum Stock Performance Shares of Marathon Petroleum stock opened at $358.71 on Friday. The stock has a market capitalization of $104.72 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The business has a 50-day moving average of $295.27 and a 200 day moving average of $253.47. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the prior year, the business earned $3.96 EPS. Marathon Petroleum’s revenue was up 53.5% on a year-over-year basis. As a group, sell-side analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.
Marathon Petroleum Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum’s dividend payout ratio is 13.75%.
Marathon Petroleum Company Profile (Free Report)
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
See Also Five stocks we like better than Marathon Petroleum 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
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Crude oil is telling investors one story this week, while diesel is telling another. Brent crude sits around $91 a barrel this morning, cushioned by governments releasing barrels from strategic reserves. Meanwhile, the U.S. diesel crack spread — the premium refiners earn turning crude into diesel — hit an all-time high of $102.20 a barrel on Monday. It’s a signal that the fuel powering trucks, tractors, trains, and cargo ships is in short supply even as crude looks relatively calm.
When the spread between raw material and finished product blows out this far, it usually means one thing: the refining system, not the oil field, is the bottleneck.
Why Diesel, Not Crude, Is the Real Story Under normal conditions, the diesel crack trades in the teens or low twenties. At $102, it’s five times that. Citi’s Anthony Yuen has flagged global diesel inventories sitting below their five-year minimum, and Kpler data cited by Jefferies analyst Sam Burwell show Persian Gulf diesel exports down 80% year over year — nearly double the 48% decline in crude exports from the region.
Strikes on refineries in Iran, Ukraine, and Saudi Arabia’s Jazan facility have knocked out processing capacity, while Russia has banned diesel exports outright. Add peak agricultural harvest demand, and you get a fuel squeeze that crude-focused policy tools can’t fix. The U.S. Strategic Petroleum Reserve has already fallen below 300 million barrels from releases meant to cap crude prices — depleting emergency stockpiles while doing nothing for the diesel shortfall, since the SPR holds crude, not refined product.
That’s an important distinction for the real economy. Diesel moves the freight that stocks grocery shelves, the equipment that plants and harvests crops, and the ships that carry everything else. BofA’s Francisco Blanch put it plainly: absent a supply recovery, diesel markets “appear poised to stay tight, volatile, and expensive well into next year.” For truckers and farmers, that means fuel costs eating into margins right as harvest season demands maximum diesel use. For everyone else, it means the cost gets passed downstream into freight rates, producer prices, and eventually the checkout line.
Who’s Actually Cashing In Refiners with heavy diesel exposure are the direct beneficiaries, and the second-quarter numbers show it. Valero Energy‘s (NYSE:VLO | VLO Price Prediction) realized refining margin roughly doubled year over year, and Marathon Petroleum‘s (NYSE:MPC) refining and marketing margin jumped from $17.58 to $36.33 per barrel.
Refiner Q2 2026 Net Income Refining Margin/Barrel Dividend Yield Marathon Petroleum $5.1 billion $36.33, more than double y-y 1.1% Valero Energy $3.7 billion $23.62, almost doubled y-y 1.4% Phillips 66 (NYSE:PSX) $3.85 billion $24.08, more than double from Q1 2.1% Valero returned $2.6 billion to shareholders last quarter — a 59% payout ratio — while holding net debt-to-capitalization at just 11%. Marathon returned more than $2.8 billion through buybacks and dividends and still finished the quarter with $7.8 billion in cash. These aren’t speculative bets on a shortage; they’re companies converting a structural bottleneck directly into free cash flow, quarter after quarter.
The Windfall Has a Shelf Life Crack spreads this extreme historically compress once refiners ramp utilization or a geopolitical resolution reopens flows through Hormuz. Valero’s own COO, Gary Simmons, argued the mid-cycle margin floor has shifted structurally higher — driven by European hydroskimming economics and rising compliance costs — but “structurally higher” isn’t “permanently at $102.”
Investors chasing today’s crack spread as a forever-trade are missing the cyclicality that’s defined refining for decades.
Key Takeaway The diesel crisis is real, and it’s a genuine risk to consumer and producer prices in the months ahead. For investors, though, the actionable read is narrower: refiners with diversified, high-complexity operations — Valero and Marathon among them — are converting the shortage into record cash flow and shareholder returns right now.
Smart investors should treat these as cyclical income plays worth owning into the tightness, not permanent holdings, and should watch the crack spread itself as the clearest signal for when it’s time to trim.
Contact [email protected] for any questions or corrections.
BlackRock Inc. bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 26,006,017 shares of the oil and gas company’s stock, valued at approximately $6,648,958,000. BlackRock Inc. owned about 8.91% of Marathon Petroleum at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Occidental Asset Management LLC acquired a new stake in Marathon Petroleum during the second quarter worth about $4,294,000. Succession Financial Inc. acquired a new position in Marathon Petroleum in the second quarter valued at approximately $767,000. Pallas Capital Advisors LLC acquired a new position in Marathon Petroleum in the second quarter valued at approximately $569,000. Deutsche Bank AG bought a new position in shares of Marathon Petroleum during the second quarter valued at approximately $280,761,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $766,000. 76.77% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Marathon Petroleum In related news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.
Analysts Set New Price Targets MPC has been the subject of several analyst reports. Citigroup boosted their price target on shares of Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Mizuho lifted their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday, July 12th. Raymond James Financial raised their price target on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Finally, Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50. Get Our Latest Stock Report on MPC
Marathon Petroleum Price Performance NYSE MPC opened at $359.78 on Tuesday. Marathon Petroleum Corporation has a 1 year low of $160.87 and a 1 year high of $363.34. The business’s fifty day moving average is $289.19 and its two-hundred day moving average is $249.51. The stock has a market capitalization of $105.03 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same period last year, the company posted $3.96 earnings per share. The business’s revenue for the quarter was up 53.5% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.
(Free Report)
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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Key Takeaways MPC's Q2 earnings surged on stronger refining margins, lower downtime and robust shareholder returns.Refining capacity outages and tight fuel inventories support MPC's favorable outlook through 2026 and 2027.MPC trades below the sub-industry P/E average, but its sharp rally raises expectations for sustained margins.
Marathon Petroleum Corporation (MPC - Free Report) has emerged as one of the standout names in the refining space after reporting exceptionally strong second-quarter results. The stock has surged 50.9% following the earnings release as investors responded to stronger refining margins, excellent operational execution and robust shareholder returns.
Image Source: Zacks Investment Research
The rally, however, changes the investment equation. While MPC's latest results and earnings outlook remain encouraging, investors must consider whether the recent gains have already priced in much of the improvement. Let's explore MPC’s growth drivers, risks, valuation and prospects while comparing it with refining peers Valero Energy (VLO - Free Report) and Phillips 66 (PSX - Free Report) .
MPC’s Investment ThesisMPC's second-quarter performance provides a strong fundamental reason behind the stock's recent rally. Net income attributable to MPC jumped to $5.1 billion, or $17.73 per share, from $1.2 billion, or $3.96, in the year-ago quarter. Adjusted EBITDA surged to $8.46 billion from $3.29 billion.
MPC's Refining & Marketing (R&M) segment was the biggest contributor. R&M adjusted EBITDA climbed to $6.66 billion from $1.89 billion, while R&M margin increased to $36.33 per barrel from $17.58. This improvement reflected stronger crack spreads and MPC's ability to optimize its crude and product flows.
Operational execution adds another positive. MPC achieved its lowest level of unplanned downtime in a decade and operated the Gulf Coast system at 100% utilization during the quarter. R&M margin capture exceeded $1 billion in the second quarter and reached 108% for the first half, highlighting the company's ability to outperform benchmark market conditions.
The refining market itself also remains supportive. Management highlighted more than 9 million barrels per day of global planned and unplanned refining capacity downtime, around 4 million barrels per day above historical norms. U.S. gasoline inventories remain below the five-year range, while distillate inventories are at the bottom of that range. MPC expects an enhanced mid-cycle refining environment through year-end and into 2027.
The company also benefits from the integrated logistics network, which provides access to economically advantaged crude and allows it to optimize feedstocks and product yields. Two high-return projects at Robinson and El Paso came online during the second quarter, with management targeting returns of 25% or higher.
Capital allocation is another positive. MPC returned $2.8 billion to its shareholders during the second quarter and repurchased $2.5 billion of stock. It had $6.1 billion remaining under existing repurchase authorizations at the end of June, while MPLX's growth strategy is expected to support 12.5% annual distribution growth in 2026 and 2027.
However, the bullish thesis has meaningful risks. Refining is inherently cyclical, and the exceptional second-quarter margins were helped by unusually tight product markets, geopolitical disruptions and refinery downtime. If capacity returns and crack spreads normalize, MPC's earnings could retreat from current elevated levels.
Capital requirements also remain significant. MPC and MPLX invested $2.64 billion in the first half, while the latter increased its 2026 growth capital outlook by $500 million to $2.9 billion to accelerate Gulf Coast fractionation and export projects.
MPC's Valuation Looks Reasonable, but the Rally Raises the BarMPC's valuation remains a key positive. The stock trades at approximately 8.82x earnings, below the sub-industry average of 9.19x. This suggests that its shares are not excessively valued despite the sharp improvement in profitability.
Image Source: Zacks Investment ResearchThe earnings outlook is also strengthening. The consensus estimates for MPC's 2026 and 2027 earnings have increased 45.09% and 25.50%, respectively, over the past 60 days. The upward revisions indicate that analysts are becoming more confident in the company's earnings potential.
Image Source: Zacks Investment Research
Still, investors should be cautious about interpreting the low P/E in isolation. Refiners often trade at lower multiples when earnings are near cyclical peaks. MPC's valuation is attractive, but sustained upside will depend on whether refining margins remain healthy enough to support current earnings expectations.
MPC vs. Valero and Phillips 66MPC's performance should also be viewed against its major refining peers. Valero Energy offers similarly strong exposure to refining and can benefit from tight refined-product markets. Phillips 66 has a somewhat more diversified business model, with exposure to refining, midstream and chemicals.
MPC's competitive advantage comes from its large refining footprint, extensive logistics network, strong optimization capabilities and ownership interest in MPLX. VLO provides a more concentrated refining investment case, while PSX offers greater diversification. The three companies therefore provide investors with different ways to participate in the favorable refining environment.
MPC Outpaces Valero and Phillips 66 Over the Past Six Months
Image Source: Zacks Investment Research
MPC has outperformed its sub-industry and peers, gaining 75.3% compared with 71.7% for Valero Energy, 44.5% for the Oil Refining & Marketing sub-industry and 45.6% for Phillips 66. MPC's six-month rally also demonstrates that investors are currently placing a premium on strong refining execution. Whether that outperformance continues will depend heavily on margins, product demand and the industry's capacity outlook.
ConclusionMPC’s strong second-quarter results highlight its solid operating performance, supported by higher refining margins, improved reliability and substantial shareholder returns. The outlook also remains constructive, with management expecting a favorable refining environment through the end of 2026 and into 2027. Improving earnings estimates and a valuation below the sub-industry average provide additional support for the investment case.
At the same time, the stock’s 50.9% post-earnings rally has raised expectations. Refining earnings are cyclical, and margins could moderate if product markets loosen or additional capacity returns. The recent share-price gains also mean that some of the improved fundamentals may already be reflected in the stock.
With a Zacks Rank #3 (Hold), MPC presents a balanced risk-reward profile at current levels. The company’s strong fundamentals and earnings momentum are encouraging, but the sharp rally and cyclical nature of refining warrant some caution. Existing shareholders may continue to monitor the stock, while prospective investors may prefer to wait for a more favorable entry point or further evidence that elevated refining margins can be sustained. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The bond market was largely unmoved, with the 10-year Treasury yield rising less than 1 basis point to 4.645%.
This article will be updated throughout the day, so check back often for more daily updates.
Nasdaq futures edged higher as Wall Street tried to extend a record-setting week. Nasdaq-100 futures rose 0.2%, while S&P 500 futures hovered just above the flatline. Dow futures slipped 67 points, or 0.1%, giving the morning tape a mixed feel on the heels of Thursday’s fresh high. The setup still leans constructive. The S&P 500 hit an intraday record of 7,816.70 yesterday and also finished at a closing high, helped by strength in technology and communication services.
For the week, the S&P 500 and Nasdaq Composite are both on track for a third straight advance, up 0.5% and 0.4%, respectively. The Dow is lagging with a 0.4% weekly decline. Earnings remain the main support: with more than 90% of S&P 500 companies reported, second-quarter profit growth is tracking around 50%, according to FactSet.
Here’s a look at where things stand as of pre-morning trading:
Dow Futures: 53,823 Down 0.21%
Nasdaq 100 Futures: 30,261 Up 0.24%
S&P Futures: 7,827 Up 0.06%
Market Movers Reddit (NYSE: RDDT) shares are indicated higher now that the social-media platform will join the S&P 500. The move puts Reddit in line for index-fund demand as it replaces AvalonBay Communities (NYSE: AVB), which is being acquired by Equity Residential (NYSE: EQR). The pop comes after a rough year for RDDT stock, which had fallen nearly tkt% YTD amid concerns that AI tools could pull traffic away from Reddit’s message boards.
The S&P 500’s record push is not coming from AI alone. Old-school refiners have become surprise leaders, with Marathon Petroleum (NYSE: MPC) up 20% this week through Thursday and Valero Energy (NYSE: VLO) up 13.1%. The driver is margin expansion; disruptions tied to the Iran war and attacks on Russian energy infrastructure have tightened supplies of gasoline and diesel, sending refined-fuel prices higher faster than crude.
Tesla (Nasdaq: TSLA) is reportedly nearing a Roadster reveal as soon as this month, with The Information saying the company may include a new “flying stunt” in the debut. The concept gives Tesla a fresh product-cycle spark, though investors will still be watching whether the long-delayed Roadster can move from spectacle to production.
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Index Dow Jones -0,34 % na 53791,91 b. S&P 500 -0,32 % na 7728,11 b. Nasdaq Composite -0,6 % na 26445,45 b.
Wall Street úterní seanci uzavřela poklesem, protože investoři začali pohlížet pesimističtěji na možnou dohodu, která by měla přinést stabilitu na Blízký východ. Výsledkem byly poklesy hodnot indexů. Index S&P klesl o 0,32% a uzavřel na hodnotě 7 728 bodů, index Nasdaq o 0,60 %, na hodnotu 26 445. Index Dow Jones Industrial Average klesl o 0,34 %, na 53 791 bodů.
Opět rostoucí ceny ropy a nejistý vývoj ohledně ukončení války vyvolaly očekávání ohledně středeční zprávy o indexu spotřebitelských cen. Po páteční zprávě o zaměstnanosti, která byla slabší, než se očekávalo, se očekávání přesunulo směrem k zářijovému zvýšení úrokových sazeb FEDem. Zároveň nové snahy společností Intel , Nvidia a jim podobných o získání finančních prostředků opět přitahují pozornost k kapitálově náročnému rozvoji umělé inteligence. Velké technologické společnosti vykázaly ztráty; akcie společností Alphabet, Apple a Amazon oslabily o 1 – 3,6 %. Ještě se čeká na výsledky společnosti CoreWeave působící v oblasti cloud computingu a výrobce serverů pro umělou inteligenci Super Micro Computer, které budou dnes zveřejněny po uzavření burzy, poskytnou přehled o stavu odvětví hardwaru pro umělou inteligenci.
Ropa posílila o 1,68 %, Zlato zůstalo poblíž své včerejší hodnoty a Bitcoin oslabil o 0,81 %
Index S&P 500 -0,32 % na 7728,11 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Utility +1,1 % Komunikační služby -2,1 % Energie +1,1 % Reality -0,9 % Průmysl +0,6 % Zbytná spotřeba -0,8 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna KKR (KKR) +6,9 % AppLovin Corp (APP) -6,0 % Axon Enterprise (AXON) +6,7 % Ventas (VTR) -5,4 % Apollo Global Management (APO) +6,3 % Datadog (DDOG) -5,4 % Jabil (JBL) +5,9 % Honeywell International (HON) -5,3 % Marathon Petroleum Corp (MPC) +5,0 % Ferguson Enterprises (FERG) -4,7 %
David Rojko-Kovačík
Fio banka, a.s.
Prohlášení
Key Takeaways Marathon Petroleum generated $6.7B in R&M adjusted EBITDA on 94% refinery utilization.Its 112% refining capture rate reflected advantaged crude sourcing and coordinated operations.Two high-return projects are expected to generate returns above MPC's 25% investment hurdle. Marathon Petroleum Corporation (MPC - Free Report) delivered one of its strongest refining quarters in recent years, but the real story extends beyond a favorable refining environment. Management attributed the record performance to disciplined value-chain optimization — integrating crude sourcing, refinery operations, logistics and commercial execution to maximize profitability across every barrel processed.
This strategy helped the company generate $6.7 billion in Refining & Marketing (R&M) adjusted EBITDA during the second quarter of 2026, while the metric reached $ 8.5 billion in total. More importantly, MPC achieved the lowest level of unplanned refinery downtime this decade, highlighting the role of operational reliability in sustaining strong earnings.
The integrated model produced tangible operating benefits. MPC processed nearly 3 million barrels per day during the quarter, with systemwide refinery utilization reaching 94% and Gulf Coast utilization touching 100%. R&M EBITDA reached $24.84 per barrel, supported by crude optimization, improved jet fuel yields and strong domestic and export demand.
The company's refining capture rate climbed to 112%, reflecting its ability to source advantaged crude, optimize feedstocks and align planning, commercial and operational activities across the refining network. Extensive pipeline and logistics infrastructure also limited exposure to higher-priced Brent-linked crude during the Middle East disruptions, preserving margins while competitors faced greater feedstock cost pressure.
Marathon Petroleum also strengthened its competitive position through targeted investments rather than large-scale capacity additions. During the quarter, the company completed two high-return refining projects. The Robinson refinery investment adds roughly 10,000 barrels per day of incremental jet fuel production, while the El Paso project enhances specialty gasoline yields for attractive regional markets. Management expects both projects to generate returns exceeding its 25% investment hurdle, demonstrating how incremental operational improvements can enhance profitability without materially increasing capital intensity.
How Does MPC Compare With Peers?Among independent refiners, San Antonio, TX-based Valero Energy Corporation (VLO - Free Report) continues to emphasize operational excellence through its highly complex refinery system and disciplined cost management. Like Marathon Petroleum, Valero Energy benefits from processing discounted crude grades and maximizing product yields across its integrated refining network. However, Marathon Petroleum's extensive logistics footprint and coordinated value-chain optimization strategy increasingly differentiate its ability to capture additional margin opportunities.
Phillips 66 (PSX - Free Report) is pursuing a similar strategy through refinery optimization and commercial integration while expanding its Midstream and Marketing businesses to improve earnings resilience. Although Phillips 66 has invested heavily in operational efficiency and portfolio optimization, Marathon Petroleum's second-quarter performance suggests its integrated planning, logistics and commercial execution delivered particularly strong margin capture during a volatile refining environment.
Rather than relying solely on supportive refining margins, Marathon Petroleum demonstrated that disciplined execution across its integrated value chain can materially enhance profitability. While refining conditions will inevitably fluctuate, the company's focus on operational reliability, advantaged crude sourcing and high-return refinery improvements may provide a durable competitive advantage through future market cycles.
MPC’s Stock Performance, Valuation and Earnings ProspectsOver the past year, Marathon Petroleum’s stock gained 102%, outperforming the Oil Refining & Marketing sub-industry’s 71.7% increase. However, Valero Energy led the group with a 139% gain, while Phillips 66 advanced 82.4% over the same period.
Image Source: Zacks Investment Research
Marathon Petroleum’s trailing P/E ratio stands at approximately 7.54, below its sub-industry average of 8.61, indicating that the stock appears relatively undervalued from a valuation perspective.
Image Source: Zacks Investment Research
MPC has seen significant upward revisions to its earnings estimates, with the consensus estimates for 2026 and 2027 rising 55.27% and 31.86%, respectively, over the past 60 days.
Image Source: Zacks Investment Research
MPC currently holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Obchodování za oceánem končí v mírném záporu. V situaci vysokých valuací se těžko hledají nové růstové impulzy. Dařilo se energetickým společnostem s vyhlídkou na brzké otevření Hormuzu. Naopak opatrnostní mód dnes držely růstové tituly a dále pak reality a utility.
Index Dow Jones -0,11 % na 53975,98 b.
S&P 500 -0,06 % na 7753,11 b.
Nasdaq Composite -0,32 % na 26605,36 b.
Index S&P 500 -0,06 % na 7753,11 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Energie +4,6 % Reality -1,2 % Zdravotní péče +1,7 % Utility -1,1 % Základní materiály +0,7 % Informační technologie -1,1 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Datadog (DDOG) +11 % Coherent Corp (COHR) -14 % APA Corp (APA) +9,0 % Lumentum Holdings (LITE) -8,6 % Marathon Petroleum Corp (MPC) +7,4 % Ciena Corp (CIEN) -6,0 % Akamai Technologies (AKAM) +6,4 % Verisk Analytics (VRSK) -5,6 % CF Industries Holdings (CF) +6,2 % Corning (GLW) -4,8 %
Martin Varecha
Fio banka, a.s.
Prohlášení
Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.
By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.
However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks.
Marathon Petroleum (MPC - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Here are three of the most important factors that make the stock of this refiner a great growth pick right now.
Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for Marathon Petroleum is 28.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 336% this year, crushing the industry average, which calls for EPS growth of 123.7%.
Impressive Asset Utilization RatioGrowth investors often overlook asset utilization ratio, also known as sales-to-total-assets (S/TA) ratio, but it is an important feature of a real growth stock. This metric shows how efficiently a firm is utilizing its assets to generate sales.
Right now, Marathon Petroleum has an S/TA ratio of 1.79, which means that the company gets $1.79 in sales for each dollar in assets. Comparing this to the industry average of 1.76, it can be said that the company is more efficient.
While the level of efficiency in generating sales matters a lot, so does the sales growth of a company. And Marathon Petroleum looks attractive from a sales growth perspective as well. The company's sales are expected to grow 15.5% this year versus the industry average of 13%.
Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
There have been upward revisions in current-year earnings estimates for Marathon Petroleum. The Zacks Consensus Estimate for the current year has surged 41.6% over the past month.
Bottom LineMarathon Petroleum has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination indicates that Marathon Petroleum is a potential outperformer and a solid choice for growth investors.
Key Takeaways Marathon Petroleum's Q2 EPS jumped 347.7% as Refining & Marketing performance strengthened sharply.Refining & Marketing EBITDA rose to $6.66 billion on higher crack spreads across all regions.Renewable Diesel EBITDA reached $258 million, aided by stronger margins, throughput and credit values. Independent oil refiner and marketer Marathon Petroleum Corporation (MPC - Free Report) reported second-quarter 2026 earnings of $17.73 per share, which beat the Zacks Consensus Estimate of $14.52 by 22.1%. Earnings per share also surged 347.7% from the year-ago level of $3.96 per share, primarily reflecting significantly stronger Refining & Marketing performance.
Findlay, OH-based Marathon Petroleum reported revenues and other income of $52.34 billion, up 53.5% year over year and above the Zacks Consensus Estimate of $34.83 billion by 50.3%. Refining & Marketing margin rose sharply to $36.33 per barrel from $17.58 a year ago, and also beat our consensus mark by 11.17%
Inside MPC's SegmentsRefining & Marketing (R&M): This segment reported adjusted EBITDA of $6.66 billion, up significantly from $1.89 billion in the year-ago quarter, and the reported figure was also 14.75% above our consensus estimate. The improvement primarily reflected higher crack spreads across all regions. Adjusted EBITDA per barrel increased to $24.84 from $6.79 a year earlier.
Midstream: This unit mainly reflects Marathon Petroleum’s general partner and majority limited partner interests in MPLX LP (MPLX - Free Report) — a publicly traded master limited partnership that owns, operates, develops and acquires pipelines and other midstream assets.
Segment adjusted EBITDA was $1.78 billion, up 8.3% from $1.64 billion in the second quarter of 2025, and the reported figure was also 5.51% above our consensus estimate. This increase was primarily driven by higher rates and throughputs, including contributions from equity affiliates and acquisitions, partly offset by the divestiture of non-core gathering and processing assets.
Marathon Petroleum's Renewable Diesel ResultsThe Renewable Diesel segment reported adjusted EBITDA of $258 million against a loss of $19 million in the corresponding period of 2025, and the reported figure was also 186.45% above our consensus estimate. The improvement reflected a stronger margin environment, higher throughputs and improved regulatory credit values.
Renewable Diesel margin increased to $321 million from $49 million a year ago. Following the completion of the Martinez turnaround in the first quarter, utilization reached 95% in the reported quarter. Management also highlighted feedstock optimization as a contributor to the segment's performance.
MPC's Refining Operating MetricsCrude capacity utilization during the quarter was 94% compared with 97% in the year-ago period. Net refinery throughput was 2,944 thousand barrels per day (mbpd), down from 3,060 mbpd a year earlier. However, refined product sales volumes increased slightly to 3,842 mbpd from 3,835 mbpd.
MPC achieved Refining & Marketing margin capture of 112%. Management attributed the strong capture to crude sourcing and optimization, inventory discipline, favorable clean-product margins and higher jet production. Refining operating costs increased to $5.72 per barrel from $5.34, while planned turnaround costs totaled $275 million compared with $250 million a year ago.
Marathon Petroleum's Financial AnalysisMarathon Petroleum reported total costs and expenses of $45.02 billion in the second quarter of 2026 compared with $31.90 billion in the year-ago period. Capital expenditures and investments totaled $1.39 billion, up from $1.07 billion a year earlier, with $1.02 billion directed toward the Midstream segment.
As of June 30, 2026, the company had cash and cash equivalents of $7.77 billion and total consolidated debt of $32.82 billion, with a debt-to-capitalization of 56.1%. MPC returned more than $2.8 billion of capital to its shareholders during the quarter, including $2.53 billion in share repurchases. The company had $6.1 billion remaining under its share repurchase authorizations.
MPC's Capital Projects ProgressMPC's 2026 capital spending outlook, excluding MPLX, remains $1.5 billion. Approximately 65% of the planned spending is focused on value-enhancing investments, while the remaining 35% is allocated to sustaining operations.
During the second quarter, the El Paso yield improvement and Robinson product flexibility investments were placed in service. The Robinson project enables approximately 10 thousand barrels per day of incremental jet fuel production, while the El Paso investment enhances the refinery's ability to produce specialty gasoline for key markets.
Marathon Petroleum's Q3 OutlookFor the third quarter of 2026, MPC expects crude oil throughput of 2,820 mbpd and total refinery throughput of 3,005 mbpd. Refinery utilization is projected at 94%.
This Zacks Rank #2 (Buy) company expects refining operating costs of $5.60 per barrel, distribution costs of $1.65 billion and planned turnaround costs of $290 million. Corporate expenses are projected at $260 million, including approximately $30 million of depreciation and amortization. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Important Earnings at a GlanceWhile we have discussed MPC’s second-quarter results in detail, let us take a look at two other key reports in this space.
San Antonio, TX-based oil and gas refining and marketing service provider, Valero Energy Corporation (VLO - Free Report) , reported second-quarter 2025 adjusted earnings of $2.28 per share, which beat the Zacks Consensus Estimate of $1.73. However, the bottom line declined from the year-ago quarter’s level of $2.71. The better-than-expected quarterly results can be attributed to an increase in refining margins per barrel of throughput and lower total cost of sales. The positives were partially offset by a decline in refining throughput volumes and renewable diesel sales volumes.
The company had cash and cash equivalents of $4.5 billion at the end of the second quarter. As of June 30, 2025, it had a total debt of $8.4 billion and finance-lease obligations of $2.3 billion.
Houston, TX-based oil and gas equipment and services provider, Halliburton Company (HAL - Free Report) , reported second-quarter 2025 adjusted net income of 55 cents per share, which was in line with the Zacks Consensus Estimate but below the year-ago quarter’s profit of 80 cents (adjusted). The numbers reflect softer activity in the North American region, partly offset by international growth.
As of June 30, 2025, the company had approximately $2 billion in cash/cash equivalents and $7.2 billion in long-term debt, representing a debt-to-capitalization ratio of 40.4. Halliburton reported second-quarter capital expenditure of $354 million, up from our projection of $338.2 million.
Key Takeaways MPC's second-quarter earnings beat estimates as stronger crack spreads lifted refining results.MPC's refining margin surged, with 94% utilization and investments boosting product flexibility.Midstream EBITDA rose 8.3%, while MPLX expansion adds a steadier cash-flow component to MPC. Marathon Petroleum Corporation (MPC - Free Report) shares have gained 18.1% over the past three months, while the Zacks Consensus Estimate for current fiscal-year earnings has risen 41.6% in the past four weeks. The combination points to firmer near-term expectations after a strong second quarter.
Image Source: Zacks Investment Research
The question is whether better refining economics, disciplined operations and expanding midstream cash flow can support further gains after the recent advance.
Why MPC’s Three-Month Rally Has Fundamental SupportMPC’s latest results give the rally an operating foundation without proving that earnings alone drove the share-price move. Second-quarter 2026 earnings of $17.73 per share beat the Zacks Consensus Estimate by 22.1%.
Revenues and other income totaled $52.34 billion and topped the consensus mark by 50.3%. Refining & Marketing adjusted EBITDA reached $6.66 billion, up from $1.89 billion a year earlier, as stronger crack spreads lifted results across all regions.
Refining Strength Gives MPC an Earnings TailwindRefining & Marketing margin climbed to $36.33 per barrel from $17.58 a year earlier, while margin capture reached 112%. Management attributed the capture performance to crude sourcing and optimization, inventory discipline, favorable clean-product margins and higher jet production.
Refineries ran at 94% utilization, with total throughput of nearly 3 million barrels per day. Recent yield-enhancing investments also broaden product flexibility, including the Robinson project, which adds about 10 thousand barrels per day of incremental jet fuel capability.
MPC’s Midstream Growth Adds Through-Cycle SupportMPC’s majority ownership of MPLX LP gives the company fee-based midstream earnings that diversify its exposure to refining margins. Midstream adjusted EBITDA rose 8.3% year over year to $1.78 billion in the second quarter, supported by higher rates and throughputs.
MPLX is expanding natural gas and natural gas liquids infrastructure in the Permian and Marcellus. Management expects mid-single-digit adjusted EBITDA growth in 2026 and 12.5% annual distribution growth in both 2026 and 2027, adding a steadier cash-flow component to MPC’s cyclical refining business.
Valuation Raises the Bar for More MPC UpsideThe recent advance has made valuation a more demanding part of the case. MPC trades at a trailing 12-month enterprise value-to-EBITDA ratio of 7.51 compared with 5.68 for its Zacks sub-industry, so continued execution may be needed to support that premium.
Image Source: Zacks Investment Research
Valero Energy Corporation (VLO - Free Report) is another major refiner with renewable diesel operations, while Phillips 66 (PSX - Free Report) combines refining with a substantial midstream business. Those peers underscore that investors can weigh refining exposure alongside adjacent businesses when comparing operators across the sector.
MPC’s Signals Still Favor Near-Term StrengthMPC’s operating backdrop remains favorable, but the recent rally is not automatically repeatable. Refining earnings remain sensitive to crack spreads, crude differentials, maintenance activity and product-market normalization, while the valuation premium leaves less room for execution shortfalls.
The stock currently carries a Zacks Rank #2 (Buy), along with a VGM Score of A, Value Score of A, Growth Score of A and Momentum Score of A. Because the Rank and Style Scores are designed for short-term stock selection, the combination favors MPC’s near-term profile, while refining cyclicality and valuation still warrant a measured view of additional upside. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Marathon Petroleum (MPC - Free Report) .
Marathon Petroleum currently has an average brokerage recommendation (ABR) of 1.97, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 19 brokerage firms. An ABR of 1.97 approximates between Strong Buy and Buy.
Of the 19 recommendations that derive the current ABR, eight are Strong Buy and three are Buy. Strong Buy and Buy respectively account for 42.1% and 15.8% of all recommendations.
Brokerage Recommendation Trends for MPC
Check price target & stock forecast for Marathon Petroleum here>>>
The ABR suggests buying Marathon Petroleum, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABRIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Is MPC Worth Investing In?Looking at the earnings estimate revisions for Marathon Petroleum, the Zacks Consensus Estimate for the current year has increased 41.6% over the past month to $46.66.
Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Marathon Petroleum. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, the Buy-equivalent ABR for Marathon Petroleum may serve as a useful guide for investors.
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Marathon Petroleum (MPC - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Marathon Petroleum is one of 252 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Marathon Petroleum is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MPC's full-year earnings has moved 61.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MPC has returned 83.4% so far this year. At the same time, Oils-Energy stocks have gained an average of 24.4%. This means that Marathon Petroleum is outperforming the sector as a whole this year.
Another stock in the Oils-Energy sector, PBF Energy (PBF - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 127.5%.
The consensus estimate for PBF Energy's current year EPS has increased 153.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Marathon Petroleum belongs to the Oil and Gas - Refining and Marketing industry, a group that includes 16 individual companies and currently sits at #26 in the Zacks Industry Rank. Stocks in this group have gained about 62% so far this year, so MPC is performing better this group in terms of year-to-date returns. PBF Energy is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Marathon Petroleum and PBF Energy as they could maintain their solid performance.
Marathon Petroleum (MPC) delivered massive earnings, driven by exceptional crack spreads and global refining disruptions, despite a subsequent stock price decline. MPC management expects tight refining markets and elevated spreads to persist through 2027, supported by ongoing geopolitical conflicts and refinery outages. Q2 results included $8.5B EBITDA, $6.6B cash from operations, $2.8B shareholder returns, and 94% utilization, with Gulf Coast and West Coast regions achieving $27/barrel adjusted EBITDA.
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Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Marathon Petroleum (MPC - Free Report) Findlay, OH-based Marathon Petroleum Corporation is a leading independent refiner, transporter and marketer of petroleum products. The company, in its current form, came into existence following the 2011 spin-off of Houston, TX-based Marathon Oil Corporation’s refining/sales business into a separate, independent and publicly-traded entity. In October 2018, Marathon Oil completed the acquisition of its rival Andeavor in a $23.3 billion deal, thereby becoming the nationwide largest refining company by market capitalization. The deal also made the company the largest U.S. refiner and the fifth largest in the world by capacity.
MPC is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Oils-Energy stock. MPC has a Momentum Style Score of A, and shares are up 6.1% over the past four weeks.
For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $13.27 to $43.32 per share. MPC boasts an average earnings surprise of +49.3%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, MPC should be on investors' short list.
Index Dow Jones -0,57 % na 54037,12 b. S&P 500 -0,11 % na 7714,94 b. Nasdaq Composite +0,11 % na 26393,17 b.
Ve čtvrteční seanci se americké indexy pohybují smíšeně a to poté, co si Wall Street v předchozí seanci po hvězdném začátku srpna trochu odpočinula. V ekonomickém kalendáři by měly být v pátek zveřejněny údaje o počtu pracovních míst v USA mimo zemědělství za červenec. Jejich údaj pravděpodobně ovlivní očekávání úrokových sazeb. Trh dnes také bude sledovat výsledky společností ConocoPhillips, Airbnb a Warner Bros. Discovery. Trhy také s napětím očekávají právy o možné dohodě o obnovení lodní dopravy přes Hormuzský průliv, zejména poté, co američtí představitelé začátkem tohoto týdne naznačili, že dohoda je na spadnutí. Americký prezident Donald Trump uvedl, že jednání s Íránem probíhají dobře, ale neuvedl žádné podrobnosti, když iránští představitelé ve středu naznačili, že dohoda s Ománem ohledně průlivu je blízko, a varovali USA před jakýmikoli novými útoky na jeho území. Írán objasnil, že je v kontaktu s mediátory v Ománu a že se Spojenými státy neúčastnil žádných přímých jednání. Teherán rovněž varoval, že dohoda s Ománem nezaručí bezpečnost v Hormuzském průlivu. Dnes byly také reportovány v USA Nové žádosti o podporu v nezaměstnanosti k 1.srpnu na 199 000 při očekávání analytiků 205 000.
V centru zájmu investorů je především ropa a pode reportu od EIA zásoby surové ropy k 31. červenci vzrostly o 2,479 mil. barelů, když trh čekal naopak pokles o 1,5 mil. barelů. Po předchozí korekci dnes WTI přidává cca 2,3% a dostává se k úrovni 76,9 USD/barel. Tato situace je dnes příznivě nakloněna akciím v těžebním sektoru černého zlata a tak akcie těžebního obra Exxon Mobil ( XOM ) posilují o necelých 1% a podobně akcie Baker Hughes ( BKR ) na tržní ceně přidávají cca 2,1%. S podobným nárůstem 1,1% se pohybují výše také akcie brazilského Petrobrasu ( PBR ) a také akcie konkurenta Marathonu Petroleum ( MPC ) se pohybují silnější o 0,5%. Solidně si vedou také akcie BP ( BP ), které se posunuly výš o 1,5%, ale nejlépe jsou na tom akcie Occidentalu Petroleum ( OXY ), které reportovaly slušné výsledky za 2Q. 2026 a na tržní ceně akcie rostou o necelých 5,2%. Zisk na akcii překonal průměrný odhad analytiků a společnost vykázala silný hotovostní tok díky výborným výsledkům segmentu midstream. Očištěný zisk na akcii dosáhl 2,40 USD, tedy výrazně nad odhady 1,87 USD a volný hotovostní tok z pokračujících činností před změnami pracovního kapitálu činil 3,0 mld. USD. Za zmínku stojí také akcie amerického výrobce a dodavatele těžní techniky Halliburtonu ( HAL ), kde akcie posilují o více než 2,4% a též akcie jeho francouzského konkurenta Schlumbergeru ( SLB ), které se posunují výš o 4,5%.
Své výsledky za 2Q. 2026 dnes zveřejnila společnost Duolingo ( DUOL ), když výnosy i zisk na akcii překonaly odhady analytiků a růst denně aktivních uživatelů zrychlil, investory ovšem zklamal opatrný výhled výnosů a objemu objednávek (bookings) na třetí kvartál.. Výnosy vzrostly meziročně o 18 % (o 17 % v konstantních měnách) na 298,5 mil. USD. Očekávaný zisk EBITDA se meziročně snížil o 2 % na 77,3 mil. USD. Trh projektoval 71,4 mil. USD. Očištěná marže EBITDA klesla o 5,3 p. b. na 25,9 %. Podle analytika Ronalda Josey ze Citi, který uvedl, že e výhled objednávek (bookings) pro 3Q byl slabší, než se očekávalo, protože Duolingo investuje do nových produktů a služeb v rámci svých hlavních jazykových kurzů, přidává větší hodnotu do bezplatné verze a rozvíjí nové služby. Bohužel investoři dost dají na výhled , který byl velmi konzervativní a opatrný. Akcie Duolingo ( DUAL ) se tak nachází pod tlakem investorů a dnes oslabují o -19,3%.
Své výsledky za 2Q. 2026 představila Letecká a obranná společnost Honeywell Aerospace ( HONA ), kde Tržby dosáhly 4,52 mld. USD, meziročně vzrostly o 5 % jak na vykázané, tak na organické bázi, a mírně zaostaly za odhadem analytiků (4,57 mld. USD). Čistý zisk klesl na 256 mil. USD z 852 mil. USD ve stejném období loňského roku. Společnost výrazně citelně snížila celoroční výhled organického růstu tržeb i očištěného provozního zisku (EBIT), a to kvůli problémům v dodavatelském řetězci. Akcie . Honeywell Aerospace ( HONA ) dnes oslabují o silných -20%.
Index S&P 500 -0,11 % na 7714,94 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Energie +1,1 % Finanční sektor -0,7 % Informační technologie +0,3 % Komunikační služby -0,6 % Zbytná spotřeba 0 % Reality -0,5 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Albemarle Corp (ALB) +9,0 % Honeywell Aerospace (HONA) -20 % Motorola Solutions (MSI) +6,6 % AppLovin Corp (APP) -20 % Parker-Hannifin Corp (PH) +6,6 % Datadog (DDOG) -16 % Lumentum Holdings (LITE) +6,5 % Axon Enterprise (AXON) -9,2 % Fox Corp (FOXA) +5,7 % Western Digital Corp (WDC) -8,6 %
Luboš Bedrník
Fio banka, a.s.
Prohlášení
Key Takeaways Marathon Petroleum posted 112% refining margin capture and $8.5B of adjusted EBITDA.MPC sees refining conditions above mid-cycle into 2027, supported by resilient fuel demand.Shareholder returns reached $2.8B, while MPLX raised 2026 growth capital to $2.9B. Marathon Petroleum Corporation (MPC - Free Report) used its second-quarter 2026 earnings call to frame strong margin capture as a mix of favorable markets and repeatable execution. Management expects refining conditions to remain above mid-cycle through 2027.
The company kept share repurchases central, advanced MPLX projects and flagged seasonal third-quarter pressure despite resilient fuel demand.
MPC reported $17.73 per share, beating the Zacks Consensus Estimate of $14.52. Revenues of $52.34 billion surpassed the Zacks Consensus Estimate of $34.83 billion.
MPC Capture Reflects More Than Market StrengthPresident, CEO and board chair Maryann Mannen said MPC generated $8.5 billion of adjusted EBITDA and 112% Refining & Marketing margin capture. First-half capture reached 108%, while unplanned downtime fell to its lowest level this decade.
A Goldman Sachs analyst asked what drove capture. CEO Mannen pointed to inventory discipline, advantaged crude sourcing, the physical offset of first-quarter derivative losses, higher jet production and refinery reliability.
Senior vice president of Value Chain Optimization Julian Stoll said integrated teams lifted jet yield 3% year over year. MPC has expanded jet yield capability from 8% in 2024 to 12%.
Marathon Petroleum Sees Tight Refining MarketsCEO Mannen said more than 9 million barrels per day of global refining capacity was offline, about 4 million above historical norms. She expects an enhanced mid-cycle environment through year-end and into 2027.
A UBS analyst asked about duration. CEO Mannen remained constructive well into 2027 but said the timing of infrastructure repairs and supply normalization was difficult to predict.
Chief commercial officer Rick Hessling cited resilient gasoline, diesel and jet demand, along with record diesel exports. Hessling warned that hurricane season and heavier third-quarter turnarounds could sustain volatility.
MPC Balances Strong Results With Q3 HeadwindsExecutive vice president and CFO Maria Khoury projected third-quarter crude throughput of 2.82 million barrels per day, equal to 94% utilization. Planned turnaround expense is expected to be about $290 million, with conversion-unit work limiting product upgrading.
A Piper Sandler analyst asked about full-year capture. CEO Mannen noted that the metric averaged 95% from 2023 through 2025, while chief commercial officer Hessling said product margins and jet-to-diesel spreads had eased early in the quarter.
Marathon Petroleum Keeps Buybacks CentralMPC returned $2.8 billion to its shareholders, including $2.5 billion through repurchases. Quarter-end consolidated cash was $7.8 billion.
Goldman Sachs and Wolfe Research analysts questioned the cash build. CEO Mannen said buybacks remain the preferred return vehicle and the company still targets roughly $1 billion of cash, excluding obligations tied to Strategic Petroleum Reserve crude exchanges.
CFO Khoury said working capital provided $3.8 billion of cash through higher payables, crude-exchange timing and inventory draws. Inventory rebuilding and exchange repayments will require cash, with each $10 crude-price move affecting working capital by about $550 million.
MPC Uses MPLX to Extend GrowthCEO Mannen called MPLX a central differentiator. MPLX raised its 2026 growth capital outlook by $500 million to $2.9 billion, mainly by accelerating Gulf Coast fractionation spending from early 2027.
Mannen added that Blackcomb began commissioning in July and remains targeted for full service in the fourth quarter. Harmon Creek III is beginning operations, while Titan sour-gas treating capacity is expected to exceed 400 million cubic feet per day by year-end.
MPLX is targeting mid-single-digit adjusted EBITDA growth in 2026, weighted toward the second half, followed by strong growth in 2027. CEO Mannen expects 12.5% annual distribution growth in both years.
Marathon Petroleum Maintains Investment DisciplineMPC’s CEO said refining investments remain focused on reliability, yield and cost reduction rather than added crude flexibility. Robinson adds about 10,000 barrels per day of jet capacity, while El Paso improves specialty gasoline production.
CEO Mannen’s closing message centered on consistent execution, benefiting from favorable markets, limiting downside exposure and investing where MPC sees clear demand and targeted returns of at least 25%. Executive vice president of Refining Michael Henschen and senior vice president Stoll emphasized digital tools and cross-regional optimization.
What MPC's Zacks Signals IndicateMPC carries a Zacks Rank #3 (Hold). Its Value Score, Growth Score, Momentum Score and VGM Score of A represent the strongest grade in each category and indicate favorable characteristics across multiple investing styles.
The Zacks framework places the greatest emphasis on Zacks Rank #1 (Strong Buy) and 2 (Buy) stocks paired with A or B Style Scores, while a Zacks Rank #3 supports a more neutral near-term view. The rank can change as analysts revise earnings estimates after the latest results. You can see the complete list of today’s Zacks #1 Rank stocks here.
Marathon Petroleum (NYSE:MPC | MPC Price Prediction) reported $17.73 in quarterly earnings per share against a $13.95 estimate, and its stock is up 90.47% year to date. If you have been grumbling at the pump about $4.08 gasoline, congratulations, you found the party. However, you were not invited unless you were invested here.
The Blowout Nobody Was Modeling CNBC’s Pippa Stevens laid out the setup on air Tuesday. “Fuel prices are high and crude has pulled back, creating a perfect situation for the refiners. EPS up 975% quarter over quarter and nearly 350% year over year.” That is the whole thesis in two sentences. Marathon booked $5.14 billion in net income, up from $1.22 billion a year earlier, and returned over $2.80 billion to shareholders in a single quarter. Revenue landed at $51.99 billion. That cleared the $41.44 billion consensus.
The engine is the crack spread, which is refinery-speak for the gap between what a barrel of crude costs and what the gasoline, diesel, and jet fuel refined from it sells for. Think of it as the margin between raw ingredient and finished plate at a restaurant. The industry benchmark, the 3-2-1 spread, has topped $70 per barrel. Marathon’s Refining and Marketing margin went from $17.58 per barrel a year ago to $36.33 per barrel. Nearly doubled. R&M adjusted EBITDA went from $1.89 billion to $6.66 billion.
WTI crude has been jumpy but soft, sitting at $84.25 per barrel after a $7.49 single-day drop. Pump prices did not follow crude down, and refiners pocket the difference.
Why The Party Is Not Ending Next Week Stevens’s second observation is the one that should keep bears up at night. “One person describing it to me as a golden period for the industry. Traditionally, when cracks start to rise, either supply catches up or demand takes a hit. But right now, demand is holding up.”
Supply cannot catch up because there is no supply to add. U.S. refineries have run above 95% utilization for 15 straight weeks. Middle East capacity is constrained, and Russia has extended its diesel export ban. The structural piece is the killer.
“We haven’t had a new refinery come online in the U.S. since 1976,” Stevens noted, with incremental capacity trickling in only through debottlenecking at existing sites like ExxonMobil (NYSE:XOM)’s Beaumont facility.
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Marathon itself is doing the same and funnels 65% of its $1.5 billion capex into value-enhancing projects like the 90 mbpd Galveston Bay distillate hydrotreater due at year-end 2027. The EIA’s own forecast keeps refinery utilization above 84% through 2050. The bottleneck is the business model.
The Counterintuitive Bit For Everyone With A Car Stevens again. “If they weren’t running flat out and raking in the profits right now, then it would be even worse for the consumer. There would be less product on the market. The gasoline prices would be even higher.” The refiners running flat out are also the reason gasoline is not $5.50. Max output is the pressure valve.
Now the investor question. Is this a durable trade or a cyclical top? Marathon trades at a forward P/E of 11x, which is either an obvious bargain or the market telling you 2027 earnings will not look like 2026.
Valero (NYSE:VLO)’s own commentary points to a 27.7% earnings decline in 2027 as margins normalize. CEO Maryann Mannen framed the current run as execution rather than luck, saying “Our results reflect the differentiated capabilities of our value chains and the execution of our optimization strategies.” The 8-K filing shows $6.1 billion in buyback authorization still on the shelf, so management is voting with the checkbook.
What to watch. Weekly EIA utilization data. Any hint of demand destruction from sustained $4-plus gasoline. And the calendar. Every quarter Russia’s export ban holds, and the Strait of Hormuz stays tense, is another quarter Marathon prints at these margins. The golden period ends when one of those things breaks. Until then, refiners are the loudest quiet money in the S&P.
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Marathon Petroleum (MPC - Free Report) reported $52.34 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 53.5%. EPS of $17.73 for the same period compares to $3.96 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $34.83 billion, representing a surprise of +50.26%. The company delivered an EPS surprise of +22.11%, with the consensus EPS estimate being $14.52.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Marathon Petroleum performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Refining & Marketing margin: $36.33 compared to the $32.86 average estimate based on four analysts.Refining & Marketing margin - Mid-Continent: $33.68 versus $34.75 estimated by four analysts on average.Refining & Marketing margin - West Coast: $41.28 versus the four-analyst average estimate of $34.36.Refining & Marketing - Refinery throughputs - Net refinery throughput: 2944 millions of barrels of oil versus 2987.38 millions of barrels of oil estimated by four analysts on average.Refining & Marketing margin - Gulf Coast: $36.52 versus $30.93 estimated by four analysts on average.Refinery throughputs - Mid-Continent - Crude oil refined: 1,030.00 Mbpd versus 1,037.88 Mbpd estimated by three analysts on average.Refinery throughputs - West Coast - Gross refinery throughputs: 553.00 Mbpd versus 566.61 Mbpd estimated by three analysts on average.Refinery throughputs - West Coast - Other charge and blendstocks: 38.00 Mbpd versus the three-analyst average estimate of 33.33 Mbpd.Refinery throughputs - West Coast - Crude oil refined: 515.00 Mbpd versus the three-analyst average estimate of 533.28 Mbpd.Refined product yields - Mid-Continent - Total: 1,102.00 Mbpd compared to the 1,112.18 Mbpd average estimate based on three analysts.Refined product yields - Gulf Coast - Total: 1,443.00 Mbpd compared to the 1,408.08 Mbpd average estimate based on three analysts.Refining & Marketing - Refinery throughputs - Crude oil refined: 2798 millions of barrels of oil versus 2811.51 millions of barrels of oil estimated by three analysts on average.View all Key Company Metrics for Marathon Petroleum here>>>
Shares of Marathon Petroleum have returned +17.4% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There?Marathon Petroleum NYSE: MPC reported second-quarter 2026 adjusted EBITDA of $8.5 billion and earnings per share of $17.73, as strong refining margins, high utilization and crude sourcing optimization lifted results across its operations.
Cash flow from operations, excluding working-capital changes, totaled $6.6 billion. The company returned $2.8 billion to shareholders during the quarter, including $2.5 billion in share repurchases, and ended the period with approximately $7.8 billion of consolidated cash.
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Oil Prices Are Surging and These 4 Stocks Are Cashing InChairman, President and CEO Maryann Mannen said the company’s performance reflected market conditions as well as planning, commercial and operating execution. She said Marathon had experienced its lowest level of unplanned downtime of the decade through the first half of 2026 and operated its Gulf Coast refineries at 100% utilization during the second quarter.
Refining Results and Margin Capture Marathon’s refining and marketing segment generated roughly $6.7 billion of adjusted EBITDA in the quarter. Refineries processed nearly 3 million barrels per day, with systemwide utilization of 94% following first-quarter turnaround activity.
Gulf Coast utilization was 100%, with adjusted EBITDA of $27 per barrel. Mid-Continent utilization was 87%, with adjusted EBITDA of nearly $21 per barrel. West Coast utilization was 93%, with adjusted EBITDA of more than $27 per barrel. Marathon Petroleum Is Back, But Cycles Still MatterThe company reported second-quarter refining and marketing margin capture of 112%, while first-half capture was 108%. CFO Maria Khoury said second-quarter capture benefited from crude optimization, Strategic Petroleum Reserve barrels received from the Department of Energy, strong gasoline, diesel and jet fuel margins, and the physical offset of first-quarter derivative losses.
Mannen said the company’s approach relies on making faster, data-driven decisions around crude sourcing, logistics and refinery operations. Chief Commercial Officer Rick Hessling said the company purchased crude directly from the Strategic Petroleum Reserve, ran more than twice as much Venezuelan crude as in the first quarter, and processed record volumes of Canadian heavy crude on the Gulf Coast. On the West Coast, Marathon ran roughly twice its normal level of California-produced crude, which Hessling said had become more economically advantaged following regional refinery closures.
Julian Stoll, senior vice president of value chain optimization, said the company increased jet fuel yield by 3% year over year during the quarter. He said Marathon’s jet-yield capability has increased to 12% from 8% since 2024, supported by investments and the ability to shift production between jet fuel and diesel based on market conditions.
Market Outlook and Refining Investments Mannen said the refining environment remains constructive, citing more than 9 million barrels per day of planned and unplanned global refining downtime, about 4 million barrels per day above historical norms. She attributed the elevated outages to disruptions in the Persian Gulf and increased attacks on Russian infrastructure during the Russia-Ukraine conflict.
The company said U.S. gasoline inventories remain below their five-year range and distillate inventories are at the bottom of their five-year range. Mannen said Marathon expects an enhanced mid-cycle refining environment through the end of 2026 and into 2027, although executives acknowledged that market volatility could continue.
During the quarter, Marathon completed two refining projects. A product-flexibility investment at its Robinson refinery is expected to add approximately 10,000 barrels per day of jet fuel production, while an El Paso yield-improvement project is intended to increase the refinery’s capability to produce specialty gasoline. Mannen said the projects were designed to meet the company’s targeted return threshold of 25% or more.
For the third quarter, Marathon forecast crude throughput of 2.8 million barrels per day and utilization of 94%. Khoury said turnaround expense is expected to be about $290 million, with work concentrated on conversion units in the Gulf Coast and Mid-Continent regions. The activity is expected to limit some upgrading capability and create a headwind to margin capture.
Midstream and Renewable Diesel Midstream segment adjusted EBITDA increased $137 million from the second quarter of 2025, driven primarily by higher rates and throughput, equity affiliate growth and acquisitions. These gains were partly offset by the divestiture of non-core gathering and processing assets.
MPLX, Marathon’s affiliated midstream company, placed the Secretariat I processing plant into service in April and began commissioning the Blackcomb natural-gas pipeline in July. Blackcomb is expected to enter full commercial service in the fourth quarter. MPLX also began operations at the Harmon Creek III processing plant, bringing total processing capacity to 8.1 billion cubic feet per day and de-ethanization capacity to more than 800,000 barrels per day.
MPLX increased its 2026 growth capital spending outlook by $500 million to $2.9 billion, primarily because it accelerated spending on a Gulf Coast fractionation project previously expected in early 2027. Marathon said MPLX remains on track for mid-single-digit adjusted EBITDA growth in 2026, weighted toward the second half, and expects its investments to support 12.5% annual distribution growth in 2026 and 2027.
Renewable diesel adjusted EBITDA rose approximately $277 million year over year. Khoury said utilization reached 95% after the completion of the Martinez turnaround in the first quarter, while feedstock optimization and improved regulatory credit values supported results. Marathon said it remains focused on operating efficiency in renewable diesel rather than pursuing additional growth capital in the segment.
Capital Returns and Cash Position Mannen said Marathon’s capital-allocation priorities remain unchanged, with share repurchases continuing to be the company’s preferred vehicle for returning capital. She said the company generally targets about $1 billion of cash to operate the business, while also accounting for obligations to repay Strategic Petroleum Reserve crude exchanges.
Khoury said second-quarter working capital provided a $3.8 billion source of cash, driven by higher payables, crude-exchange timing and inventory draws. She noted that Marathon has begun rebuilding inventory and that a $10-per-barrel change in crude prices affects working capital by approximately $550 million.
About Marathon Petroleum (NYSE:MPC)Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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Should You Invest $1,000 in Marathon Petroleum Right Now?Before you consider Marathon Petroleum, you'll want to hear this.
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Stock to Watch: Marathon Petroleum (MPC - Free Report) Findlay, OH-based Marathon Petroleum Corporation is a leading independent refiner, transporter and marketer of petroleum products. The company, in its current form, came into existence following the 2011 spin-off of Houston, TX-based Marathon Oil Corporation’s refining/sales business into a separate, independent and publicly-traded entity. In October 2018, Marathon Oil completed the acquisition of its rival Andeavor in a $23.3 billion deal, thereby becoming the nationwide largest refining company by market capitalization. The deal also made the company the largest U.S. refiner and the fifth largest in the world by capacity.
MPC is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 7.11; value investors should take notice.
For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $13.14 to $43.19 per share. MPC boasts an average earnings surprise of +49.5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, MPC should be on investors' short list.
Marathon Petroleum (MPC - Free Report) came out with quarterly earnings of $17.73 per share, beating the Zacks Consensus Estimate of $14.52 per share. This compares to earnings of $3.96 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +22.11%. A quarter ago, it was expected that this refiner would post earnings of $0.72 per share when it actually produced earnings of $1.65, delivering a surprise of +129.17%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Marathon Petroleum, which belongs to the Zacks Oil and Gas - Refining and Marketing industry, posted revenues of $52.34 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 50.26%. This compares to year-ago revenues of $34.1 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Marathon Petroleum shares have added about 88.8% since the beginning of the year versus the S&P 500's gain of 11%.
What's Next for Marathon Petroleum?While Marathon Petroleum has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Marathon Petroleum was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $18.07 on $33.26 billion in revenues for the coming quarter and $43.19 on $144.74 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Refining and Marketing is currently in the top 9% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Delek US Holdings (DK - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.
This refinery operator is expected to post quarterly earnings of $2.21 per share in its upcoming report, which represents a year-over-year change of +494.6%. The consensus EPS estimate for the quarter has been revised 94.2% higher over the last 30 days to the current level.
Delek US Holdings' revenues are expected to be $3.03 billion, up 9.6% from the year-ago quarter.
Second-quarter net income attributable to MPC of $5.1 billion, or $17.73 per diluted share $8.5 billion of adjusted EBITDA, with strong commercial and operational performance across the system Executing value-enhancing capital strategy; El Paso and Robinson yield-enhancing investments online in 2Q26, extending the competitive position of these refining assets Advancing MPLX Natural Gas and NGL value chain growth strategy, expected to support 12.5% annual distribution growth in 2026 and 2027 $2.8 billion of capital returned, reflecting strong cash generation and disciplined execution of our capital allocation priorities Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $5.1 billion, or $17.73 per diluted share, for the second quarter of 2026. This compares with a net income attributable to MPC of $1.2 billion, or $3.96 per diluted share, for the second quarter of 2025.
The second quarter of 2026 adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA) was $8.5 billion, compared with $3.3 billion for the second quarter of 2025.
"Strong planning, commercial, and operational execution enabled safe and reliable operations to meet resilient consumer demand. Our results reflect the differentiated capabilities of our value chains and the execution of our optimization strategies," said Chairman, President and Chief Executive Officer Maryann Mannen. "The completion of two high-return, yield-enhancing refining investments further position us to deliver incremental value. MPLX's execution of its Natural Gas and NGL strategy supports durable growth and increasing distributions that differentiate MPC, allowing us to lead in capital return."
Results from Operations
Adjusted EBITDA (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)
2026
2025
2026
2025
Refining & Marketing segment adjusted EBITDA
$
6,655
$
1,890
$
8,032
$
2,379
Midstream segment adjusted EBITDA
1,778
1,641
3,376
3,361
Renewable Diesel segment adjusted EBITDA
258
(19)
296
(61)
Subtotal
8,691
3,512
11,704
5,679
Corporate
(256)
(243)
(530)
(453)
Add: Depreciation and amortization
25
17
49
35
Adjusted EBITDA
$
8,460
$
3,286
$
11,223
$
5,261
Refining & Marketing (R&M)
Segment adjusted EBITDA was $6.7 billion in the second quarter of 2026, versus $1.9 billion for the second quarter of 2025. R&M segment adjusted EBITDA was $24.84 per barrel for the second quarter of 2026, versus $6.79 per barrel for the second quarter of 2025. Segment adjusted EBITDA excludes refining planned turnaround costs, which totaled $275 million in the second quarter of 2026 and $250 million in the second quarter of 2025.
R&M margin was $36.33 per barrel for the second quarter of 2026, versus $17.58 per barrel for the second quarter of 2025. Crude capacity utilization was 94%, resulting in total throughput of 2.9 million barrels per day (bpd) for the second quarter of 2026. Results were driven primarily by higher crack spreads in all regions.
Refining operating costs were $5.72 per barrel for the second quarter of 2026, versus $5.34 per barrel for the second quarter of 2025, primarily driven by decreased utilization due to planned downtime in the Mid-Con, compared to the prior year quarter.
Midstream
Segment adjusted EBITDA was $1.8 billion in the second quarter of 2026, versus $1.6 billion for the second quarter of 2025. The increase was primarily driven by increased rates and throughputs, including growth from equity affiliates and acquisitions, partially offset by the divestiture of non-core gathering and processing assets.
Renewable Diesel
Segment adjusted EBITDA was $258 million in the second quarter of 2026, versus $(19) million for the second quarter of 2025. The results reflect a stronger margin environment, higher throughputs, and improved regulatory credit values.
Corporate and Items Not Allocated
Corporate expenses totaled $256 million in the second quarter of 2026, compared with $243 million in the second quarter of 2025.
Financial Position, Liquidity, and Return of Capital
As of June 30, 2026, MPC had $7.8 billion of cash and cash equivalents, including $1.0 billion of cash at MPLX, and no borrowings outstanding under its $5 billion five-year bank revolving credit facility.
In the second quarter, the company returned over $2.8 billion of capital to shareholders. As of June 30, 2026, the company had $6.1 billion remaining under its share repurchase authorizations.
Strategic Update
MPC Strategic Update
MPC's 2026 capital spending outlook (excluding MPLX) is $1.5 billion. Approximately 65% of its overall capital spending is focused on value-enhancing investments and 35% on sustaining operations. MPC's outlook includes high-return investments at its Galveston Bay, Robinson, El Paso, and Garyville refineries. In the second quarter of 2026, the El Paso yield improvement and Robinson product flexibility investments were placed in service. The El Paso yield improvement investment enhances the refinery's ability to produce specialty gasolines for the El Paso, Phoenix, and Mexico markets, reinforcing its geographic advantage and competitive position. The Robinson product flexibility investment enables approximately 10 thousand barrels per day (mbpd) of incremental jet fuel production, supporting growing regional demand. In addition to these multi-year investments, the company is executing shorter-term projects that offer high returns through margin enhancement and cost reduction.
Investment
Details
Expected In-Service
Garyville
Jet Flexibility
Increases flexibility to maximize higher value
jet fuel production to meet growing demand
1Q26 – Completed
El Paso
Yield Improvement
Upgrades fluid catalytic cracker (FCC) and
alkylation units to drive volume expansion
2Q26 – Completed
Robinson
Product Flexibility
Increases flexibility to maximize higher value
jet fuel production to meet growing demand
2Q26 – Completed
Galveston Bay
Distillate Hydrotreater
90 mbpd hydrotreater, increasing supply of
high-value ULSD to domestic and export markets
YE27
Garyville
Feedstock Optimization
Further optimizes feedstock slate and
increases crude throughput by 30 mbpd
YE27
Garyville
Product Export Flexibility
Increases yield flexibility to produce an incremental
10 mbpd of export premium gasoline and lowers costs
YE27
MPLX Strategic Update
MPLX is increasing its 2026 growth capital spending outlook by $500 million, to $2.9 billion, primarily reflecting the accelerated execution of the Gulf Coast fractionation project to meet global demand for U.S. energy. MPLX plans to invest over 90% of organic growth capital toward opportunities to meet growing natural gas and NGL infrastructure needs. With projects concentrated in the Permian and Marcellus, two of the most prolific and competitive basins in North America, investments in these value chains reflect MPLX's confidence in the long-term fundamentals of the energy market, offer some of the most compelling investments in the midstream sector, and are expected to generate mid-teens returns.
Investment
Details
MPLX
Ownership
Expected In-Service
Secretariat I
200 million cubic feet per day
(MMcf/d) gas processing plant
in the Delaware Basin
100 %
Placed in service in
April 2026
Harmon Creek III
300 MMcf/d gas processing plant and
40 mbpd de-ethanizer in the Marcellus
100 %
Beginning operations
in August 2026
Bay Runner and Bay
Runner Twin Pipelines
Up to 5.3 billion cubic feet per day
(Bcf/d) of natural gas transport capacity
between Agua Dulce, Texas, and
Brownsville, Texas
30 %
Bay Runner: 3Q26
Bay Runner Twin: 2029
Titan Complex
Increasing sour gas treating capacity
from 150 MMcf/d to over 400 MMcf/d in
the Delaware Basin
100 %
4Q26
BANGL Pipeline
Expanding NGL pipeline from 250
mbpd to 300 mbpd; provides
transportation from the Permian Basin
to the Texas Gulf Coast
100 %
4Q26
Blackcomb Pipeline
2.5 Bcf/d pipeline connecting Permian
supply to Agua Dulce, Texas
34 %
4Q26;
Began commissioning
July 2026
Traverse Pipeline
2.5 Bcf/d pipeline designed to
transport natural gas between Agua
Dulce, Texas, and Katy, Texas
34 %
2H27
Gulf Coast
Fractionators
Two 150 mbpd fractionation facilities
near MPC's Galveston Bay refinery
100 %
Frac I: 2028
Frac II: 2029
Gulf Coast LPG Export
Terminal JV
400 mbpd LPG export terminal located
in the Port of Texas City, Texas
50 %
2028
Marcellus Gathering
System Expansion
Supports producer activity near
MPLX's Majorsville gas processing complex
100 %
1H28
Eiger Express Pipeline
3.7 Bcf/d pipeline connecting Permian
supply to Katy, Texas
22 %
Mid-2028
Secretariat II
300 MMcf/d gas processing plant in
the Delaware Basin
100 %
2H28
Third-Quarter 2026 Outlook
Refining & Marketing Segment:
Refining operating costs per barrel(a)
$
5.60
Distribution costs (in millions)
$
1,650
Refining planned turnaround costs (in millions)
$
290
Depreciation and amortization (in millions)
$
390
Refinery throughputs (mbpd):
Crude oil refined
2,820
Other charge and blendstocks
185
Total
3,005
Corporate (includes $30 million of D&A)
$
260
(a)
Excludes refining planned turnaround and depreciation and amortization expense.
Conference Call
At 11:00 a.m. ET today, MPC will hold a conference call and webcast to discuss the reported results and provide an update on company operations. Interested parties may listen by visiting MPC's website at www.marathonpetroleum.com. A replay of the webcast will be available on the company's website for two weeks. Financial information, including the earnings release and other investor-related materials, will also be available online prior to the conference call and webcast at www.marathonpetroleum.com.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream and midstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. More information is available at www.marathonpetroleum.com.
Media Contact: (419) 421-3577
Jamal Kheiry, Communications Manager
References to Earnings and Defined Terms
References to earnings mean net income attributable to MPC from the statements of income. Unless otherwise indicated, references to earnings and earnings per share are MPC's share after excluding amounts attributable to noncontrolling interests.
Market Data
Certain relevant benchmark margin and market data, including pricing, regional and blended crack spreads and sweet and sour crude differentials, along with a hypothetical Refining and Marketing margin indicator based on such margin and market data and operational guidance provided for each quarter, is available on MPC's Investors website at www.marathonpetroleum.com/Investors/Investor-Market-Data. MPC intends to update this information each month no later than the close of business on the second business day following the end of each month unless otherwise noted and may also provide additional updates within each month. Interested parties may register to receive automatic email alerts when the information is updated by clicking on "Sign Up" at https://www.marathonpetroleum.com/Investors/ and following the instructions provided.
Forward-Looking Statements
This press release contains forward-looking statements regarding MPC. These forward-looking statements may relate to, among other things, MPC's expectations, estimates and projections concerning its business and operations, financial priorities, strategic plans and initiatives, capital return plans, capital expenditure plans, operating cost reduction objectives, and environmental, social and governance ("ESG") plans and goals, including those related to greenhouse gas emissions and intensity reduction targets, freshwater withdrawal intensity reduction targets, inclusion and ESG reporting. Forward-looking and other statements regarding our ESG plans and goals are not an indication that these statements are material to investors or are required to be disclosed in our filings with the Securities Exchange Commission (SEC). In addition, historical, current, and forward-looking ESG-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. You can identify forward-looking statements by words such as "advance," "anticipate," "believe," "commitment," "confidence," "continue," "could," "design," "drive," "endeavor," "estimate," "expect," "focus," "forecast," "goal," "guidance," "intend," "may," "objective," "opportunity," "outlook," "plan," "policy," "position," "potential," "predict," "priority," "progress," "project," "prospective," "pursue," "seek," "should," "strategy," "strive," "support," "target," "trends," "will," "would" or other similar expressions that convey the uncertainty of future events or outcomes. MPC cautions that these statements are based on management's current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of MPC, that could cause actual results and events to differ materially from the statements made herein. Factors that could cause MPC's actual results to differ materially from those implied in the forward-looking statements include but are not limited to: political or regulatory developments, changes in governmental policies relating to refined petroleum products, crude oil, natural gas, natural gas liquids ("NGLs"), or renewable diesel and other renewable fuels or taxation, including changes in tax regulations or guidance promulgated pursuant to the new legislation implemented in the One Big Beautiful Bill Act; volatility in and degradation of general economic, market, industry or business conditions, including as a result of pandemics, other infectious disease outbreaks, natural hazards, extreme weather events, regional conflicts such as hostilities in the Middle East and in Ukraine, tariffs, inflation rising interest rates or government shutdowns; the regional, national and worldwide demand for refined products and renewable diesel and other renewable fuels and related margins; the regional, national or worldwide availability and pricing of crude oil, natural gas, NGLs and other feedstocks and related pricing differentials, including increased pricing volatility or supply disruptions due to the U.S.-Iran conflict and market reactions thereto; the adequacy of capital resources and liquidity and timing and amounts of free cash flow necessary to execute our business plans, effect future share repurchases and to maintain or grow our dividend; the success or timing of completion of ongoing or anticipated projects; changes to the expected construction costs and in service dates of planned and ongoing projects and investments, including pipeline projects and new processing units, and the ability to obtain regulatory and other approvals with respect thereto; the ability to obtain the necessary regulatory approvals and satisfy the other conditions necessary to consummate planned transactions within the expected timeframes if at all; the ability to realize expected returns or other benefits on anticipated or ongoing projects or planned transactions, including the recently completed acquisitions of Northwind Delaware Holdings LLC and BANGL, LLC; the availability of desirable strategic alternatives to optimize portfolio assets and the ability to obtain regulatory and other approvals with respect thereto; the inability or failure of our joint venture partners to fund their share of operations and development activities; the financing and distribution decisions of joint ventures we do not control; our ability to successfully implement our sustainable energy strategy and principles and to achieve our ESG plans and goals within the expected timeframes if at all; changes in government incentives for emission-reduction products and technologies; the outcome of research and development efforts to create future technologies necessary to achieve our ESG plans and goals; our ability to scale projects and technologies on a commercially competitive basis; changes in regional and global economic growth rates and consumer preferences, including consumer support for emission-reduction products and technology; industrial incidents or other unscheduled shutdowns affecting our refineries, machinery, pipelines, processing, fractionation and treating facilities or equipment, means of transportation, or those of our suppliers or customers; the imposition of windfall profit taxes, maximum refining margin penalties, minimum inventory requirements or refinery maintenance and turnaround supply plans on companies operating within the energy industry in California or other jurisdictions; the establishment or increase of tariffs on goods, including crude oil and other feedstocks imported into the United States, other trade protection measures or restrictions or retaliatory actions from foreign governments; the impact of adverse market conditions or other similar risks to those identified herein affecting MPLX; compliance costs and uncertainty associated with cap and invest programs or similar arrangements or programs in California or other jurisdictions; and the factors set forth under the heading "Risk Factors" and "Disclosures Regarding Forward-Looking Statements" in MPC's and MPLX's Annual Reports on Form 10-K for the year ended Dec. 31, 2025, and in other filings with the SEC. Any forward-looking statement speaks only as of the date of the applicable communication and we undertake no obligation to update any forward-looking statement except to the extent required by applicable law.
Copies of MPC's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC's website, MPC's website at https://www.marathonpetroleum.com/Investors/ or by contacting MPC's Investor Relations office. Copies of MPLX's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC's website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office.
Consolidated Statements of Income (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions, except per-share data)
2026
2025
2026
2025
Revenues and other income:
Sales and other operating revenues
$
51,994
$
33,799
$
86,194
$
65,316
Income from equity method investments
256
212
432
442
Net gain (loss) on disposal of assets
(2)
6
(2)
6
Other income
89
84
281
187
Total revenues and other income
52,337
34,101
86,905
65,951
Costs and expenses:
Cost of revenues (excludes items below)
43,064
30,025
74,325
59,385
Depreciation and amortization
838
789
1,647
1,582
Selling, general and administrative expenses
894
867
1,761
1,650
Other taxes
219
223
446
450
Total costs and expenses
45,015
31,904
78,179
63,067
Income from operations
7,322
2,197
8,726
2,884
Net interest and other financial costs
340
319
710
623
Income before income taxes
6,982
1,878
8,016
2,261
Provision for income taxes
1,444
268
1,627
305
Net income
5,538
1,610
6,389
1,956
Less net income attributable to:
Noncontrolling interests
400
394
740
814
Net income attributable to MPC
$
5,138
$
1,216
$
5,649
$
1,142
Per share data
Basic:
Net income attributable to MPC per share
$
17.76
$
3.96
$
19.34
$
3.69
Weighted average shares outstanding (in millions)
289
307
291
309
Diluted:
Net income attributable to MPC per share
$
17.73
$
3.96
$
19.30
$
3.68
Weighted average shares outstanding (in millions)
290
307
292
310
Capital Expenditures and Investments (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)
2026
2025
2026
2025
Refining & Marketing
$
325
$
347
$
653
$
709
Midstream
1,021
691
1,913
1,077
Renewable Diesel(a)
—
1
—
2
Corporate(b)
40
26
72
53
Total
$
1,386
$
1,065
$
2,638
$
1,841
Capitalized interest
$
33
$
20
$
63
$
38
(a)
The six months ended June 30, 2026 excludes $62 million of funding to the Martinez Renewables JV due to turnaround costs in the first quarter of 2026 expected to be recovered through subsequent distributions from the JV during 2026.
Inter-region refinery transfers excluded from throughput and yields above (mbpd)
116
76
111
60
(a)
Includes intersegment sales.
(b)
Based on calendar day capacity, which is an annual average that includes downtime for planned maintenance and other normal operating activities.
Refining & Marketing - Supplemental Operating Data by Region (unaudited)
The per barrel data for the regions, as shown in the tables below, is calculated based on the net refinery throughput (excludes inter-refinery transfer volumes).
Refining operating costs exclude refining planned turnaround costs and refining depreciation and amortization expense. Distribution costs exclude depreciation and amortization.
Gulf Coast Region
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Refining & Marketing margin (dollar per barrel of net refinery throughput)
$
36.52
$
15.17
$
27.57
$
13.59
Less:
Refining operating costs
4.30
4.34
4.79
4.76
Distribution costs
5.33
5.27
5.71
5.50
Other income
(0.12)
(0.09)
(0.11)
(0.05)
Refining & Marketing Gulf Coast adjusted EBITDA
$
27.01
$
5.65
$
17.18
$
3.38
Refining planned turnaround costs
$
0.15
$
0.19
1.55
1.16
Depreciation and amortization(a)
1.26
1.04
1.24
1.12
Refinery throughputs (mbpd):
Crude oil refined
1,253
1,233
1,184
1,124
Other charge and blendstocks
152
154
159
161
Gross refinery throughputs
1,405
1,387
1,343
1,285
Sour crude oil throughput (percent)
58
55
58
58
Sweet crude oil throughput (percent)
42
45
42
42
Refined product yields (mbpd):
Gasoline
650
637
594
617
Distillates
525
511
478
462
Propane
42
40
38
39
NGLs and petrochemicals
158
149
144
127
Heavy fuel oil
50
58
101
52
Asphalt
18
19
16
15
Total
1,443
1,414
1,371
1,312
Inter-region refinery transfers included in throughput and yields above (mbpd)
70
51
70
37
(a)
Includes refining and distribution depreciation and amortization.
Mid-Continent Region
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Refining & Marketing margin (dollar per barrel of net refinery throughput)
Inter-region refinery transfers included in throughput and yields above (mbpd)
22
8
15
7
(a)
Includes refining and distribution depreciation and amortization.
West Coast Region
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Refining & Marketing margin (dollar per barrel of net refinery throughput)
$
41.28
$
23.18
$
33.54
$
20.60
Less:
Refining operating costs
8.08
8.62
8.21
8.68
Distribution costs
5.94
6.42
5.87
6.31
Other income
—
(0.04)
(0.02)
(0.03)
Refining & Marketing West Coast adjusted EBITDA
$
27.26
$
8.18
$
19.48
$
5.64
Refining planned turnaround costs
$
1.39
$
2.39
1.08
2.82
Depreciation and amortization(a)
2.06
2.43
2.10
2.43
Refinery throughputs (mbpd):
Crude oil refined
515
485
511
484
Other charge and blendstocks
38
44
44
40
Gross refinery throughputs
553
529
555
524
Sour crude oil throughput (percent)
63
66
64
66
Sweet crude oil throughput (percent)
37
34
36
34
Refined product yields (mbpd):
Gasoline
267
271
274
264
Distillates
215
179
215
181
Propane
10
8
10
9
NGLs and petrochemicals
35
35
32
34
Heavy fuel oil
31
42
29
42
Asphalt
1
1
—
1
Total
559
536
560
531
Inter-region refinery transfers included in throughput and yields above (mbpd)
24
17
26
16
(a)
Includes refining and distribution depreciation and amortization.
Midstream Operating Statistics (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Pipeline throughputs (mbpd)(a)
5,993
6,219
5,891
6,121
Terminal throughputs (mbpd)
3,259
3,183
3,118
3,139
Gathering system throughputs (million cubic feet per day)(b)
6,859
6,562
6,674
6,539
Natural gas processed (million cubic feet per day)(b)
9,590
9,740
9,498
9,760
C2 (ethane) + NGLs fractionated (mbpd)(b)
680
634
657
647
(a)
Includes common-carrier pipelines and private pipelines contributed to MPLX. Excludes equity method affiliate pipeline volumes.
(b)
Includes operating data for entities that have been consolidated into the MPLX financial statements as well as operating data for partnership-operated equity method investments.
Renewable Diesel Financial Data (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)
2026
2025
2026
2025
Renewable Diesel margin(a)
$
321
$
49
$
454
$
75
Less:
Operating costs(b)
74
66
141
136
Distribution costs(c)
32
25
60
47
Other income(d)
(43)
(23)
(43)
(47)
Renewable Diesel segment adjusted EBITDA
$
258
$
(19)
$
296
$
(61)
Planned turnaround costs
$
1
$
25
$
2
$
36
JV planned turnaround costs
1
2
30
10
Depreciation and amortization
16
18
32
36
JV depreciation and amortization
23
23
45
45
(a)
Sales revenue less cost of renewable inputs and purchased products.
(b)
Excludes planned turnaround and depreciation and amortization expense.
(c)
Excludes depreciation and amortization expense.
(d)
Includes income or loss from equity method investments, net gain or loss on disposal of assets and other income or loss.
Select Financial Data (unaudited)
June 30,
2026
March 31,
2026
(in millions of dollars)
Cash and cash equivalents
$
7,768
$
2,151
Total consolidated debt(a)
32,816
32,825
MPC debt
7,176
7,191
MPLX debt
25,640
25,634
Equity
25,720
23,427
(in millions)
Shares outstanding
283
293
(a)
Net of unamortized debt issuance costs and unamortized premium/discount, net.
Non-GAAP Financial Measures
Management uses certain financial measures to evaluate our operating performance that are calculated and presented on the basis of methodologies other than in accordance with GAAP. The non-GAAP financial measures we use are as follows:
Adjusted Net Income Attributable to MPC and Adjusted Diluted Income Per Share
Adjusted net income attributable to MPC is defined as net income attributable to MPC excluding the items in the table below, along with their related income tax effect. We have excluded these items because we believe that they are not indicative of our core operating performance. Adjusted diluted income per share is defined as adjusted net income attributable to MPC divided by the number of weighted-average shares outstanding in the applicable period, assuming dilution.
We believe the use of adjusted net income attributable to MPC and adjusted diluted income per share provides us and our investors with important measures of our ongoing financial performance to better assess our underlying business results and trends. Adjusted net income attributable to MPC or adjusted diluted income per share should not be considered as a substitute for, or superior to, net income attributable to MPC, diluted net income per share or any other measure of financial performance presented in accordance with GAAP. Adjusted net income attributable to MPC and adjusted diluted income per share may not be comparable to similarly titled measures reported by other companies.
Reconciliation of Net Income Attributable to MPC to Adjusted Net Income Attributable to MPC
(unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)
2026
2025
2026
2025
Net income attributable to MPC
$
5,138
$
1,216
$
5,649
$
1,142
Pre-tax adjustments:
Clean fuel production tax credit(a)
—
—
(32)
—
Tax impact of adjustments(b)
—
—
8
—
Adjusted net income attributable to MPC
$
5,138
$
1,216
$
5,625
$
1,142
Diluted income per share
$
17.73
$
3.96
$
19.30
$
3.68
Adjusted diluted income per share
$
17.73
$
3.96
$
19.22
$
3.68
Weighted average diluted shares outstanding
290
307
292
310
(a)
Recognition of 2025 clean fuel production tax credits as a result of proposed regulatory guidance issued in February of 2026 which clarified the qualification criteria for 45Z credits.
(b)
Income taxes for the six months ended June 30, 2026 were calculated by applying a federal statutory rate and a blended state tax rate to the pre-tax adjustments. The corresponding adjustments to reported income taxes are shown in the table above.
Adjusted EBITDA
Amounts included in net income (loss) attributable to MPC and excluded from adjusted EBITDA include (i) net interest and other financial costs; (ii) provision/benefit for income taxes; (iii) noncontrolling interests; (iv) depreciation and amortization; (v) refining planned turnaround costs and (vi) other adjustments as deemed necessary, as shown in the table below. We believe excluding turnaround costs from this metric is useful for comparability to other companies as certain of our competitors defer these costs and amortize them between turnarounds.
Adjusted EBITDA is a financial performance measure used by management, industry analysts, investors, lenders, and rating agencies to assess the financial performance and operating results of our ongoing business operations. Additionally, we believe adjusted EBITDA provides useful information to investors for trending, analyzing and benchmarking our operating results from period to period as compared to other companies that may have different financing and capital structures. Adjusted EBITDA should not be considered as a substitute for, or superior to, income (loss) from operations, net income attributable to MPC, income before income taxes, cash flows from operating activities or any other measure of financial performance presented in accordance with GAAP. Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.
Reconciliation of Net Income Attributable to MPC to Adjusted EBITDA (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)
2026
2025
2026
2025
Net income attributable to MPC
$
5,138
$
1,216
$
5,649
$
1,142
Net income attributable to noncontrolling interests
Recognition of 2025 clean fuel production tax credits as a result of proposed regulatory guidance issued in February of 2026 which clarified the qualification criteria for 45Z credits.
Refining & Marketing Margin
Refining & Marketing margin is defined as sales revenue less cost of refinery inputs and purchased products, which includes impacts from derivative activity. We use and believe our investors use this non-GAAP financial measure to evaluate our Refining & Marketing segment's operating and financial performance as it is the most comparable measure to the industry's market reference product margins. This measure should not be considered a substitute for, or superior to, Refining & Marketing gross margin or other measures of financial performance prepared in accordance with GAAP, and our calculation thereof may not be comparable to similarly titled measures reported by other companies.
Reconciliation of Refining & Marketing Segment Adjusted EBITDA to Refining & Marketing Gross
Margin and Refining & Marketing Margin (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)
2026
2025
2026
2025
Refining & Marketing segment adjusted EBITDA
$
6,655
$
1,890
$
8,032
$
2,379
Plus (Less):
Depreciation and amortization
(410)
(405)
(797)
(811)
Refining planned turnaround costs
(275)
(250)
(805)
(704)
Selling, general and administrative expenses
686
667
1,336
1,291
Income from equity method investments
(12)
(3)
(10)
(8)
Other income
(29)
(51)
(130)
(119)
Refining & Marketing gross margin
6,615
1,848
7,626
2,028
Plus (Less):
Operating expenses (excluding depreciation and amortization)
2,939
2,803
6,187
5,787
Depreciation and amortization
410
405
797
811
Gross margin excluded from and other income included in Refining &
Marketing margin(a)
(173)
(98)
(217)
(168)
Other taxes included in Refining & Marketing margin
(56)
(63)
(108)
(133)
Refining & Marketing margin
$
9,735
$
4,895
$
14,285
$
8,325
(a)
Reflects the gross margin, excluding depreciation and amortization, of other related operations included in the Refining & Marketing segment and processing of credit card transactions on behalf of certain of our marketing customers, net of other income.
Refining & Marketing Margin by region:
Three Months Ended June 30,
2026
2025
Margin
Net
Refinery
Throughput
Margin
Margin
Net
Refinery
Throughput
Margin
Region
(in millions)
(mbpd)
($/bbl)
(in millions)
(mbpd)
($/bbl)
Gulf Coast
$
4,437
1,335
$
36.52
$
1,845
1,336
$
15.17
Mid-Continent
3,309
1,080
33.68
1,970
1,212
17.86
West Coast
1,989
529
41.28
1,080
512
23.18
Refining & Marketing
$
9,735
2,944
36.33
$
4,895
3,060
17.58
Six Months Ended June 30,
2026
2025
Margin
Net
Refinery
Throughput
Margin
Margin
Net
Refinery
Throughput
Margin
Region
(in millions)
(mbpd)
($/bbl)
(in millions)
(mbpd)
($/bbl)
Gulf Coast
$
6,350
1,273
$
27.57
$
3,072
1,248
$
13.59
Mid-Continent
4,721
1,096
23.80
3,360
1,199
15.49
West Coast
3,214
529
33.54
1,893
508
20.60
Refining & Marketing
$
14,285
2,898
27.24
$
8,325
2,955
15.57
Refining & Marketing Adjusted EBITDA by region:
Three Months Ended June 30,
2026
2025
Adjusted
EBITDA
Net
Refinery
Throughput
Adjusted
EBITDA
Adjusted
EBITDA
Net
Refinery
Throughput
Adjusted
EBITDA
Region
(in millions)
(mbpd)
($/bbl)
(in millions)
(mbpd)
($/bbl)
Gulf Coast
$
3,282
1,335
$
27.01
$
687
1,336
$
5.65
Mid-Continent
2,060
1,080
20.96
822
1,212
7.45
West Coast
1,313
529
27.26
381
512
8.18
Refining & Marketing Segment
$
6,655
2,944
24.84
$
1,890
3,060
6.79
Six Months Ended June 30,
2026
2025
Adjusted
EBITDA
Net
Refinery
Throughput
Adjusted
EBITDA
Adjusted
EBITDA
Net
Refinery
Throughput
Adjusted
EBITDA
Region
(in millions)
(mbpd)
($/bbl)
(in millions)
(mbpd)
($/bbl)
Gulf Coast
$
3,956
1,273
$
17.18
$
765
1,248
$
3.38
Mid-Continent
2,210
1,096
11.14
1096
1,199
5.05
West Coast
1,866
529
19.48
518
508
5.64
Refining & Marketing Segment
$
8,032
2,898
15.31
$
2,379
2,955
4.45
Renewable Diesel Margin
Renewable Diesel margin is defined as sales revenue plus value attributable to qualifying regulatory credits earned during the period less cost of renewable inputs and costs for purchased product, including from our Martinez Renewables JV. We use, and believe our investors use, this non-GAAP financial measure to evaluate our Renewable Diesel segment's operating and financial performance. This measure should not be considered a substitute for, or superior to, Renewable Diesel gross margin or other measures of financial performance prepared in accordance with GAAP, and our calculation thereof may not be comparable to similarly titled measures reported by other companies.
Reconciliation of Renewable Diesel Segment Adjusted EBITDA to Renewable Diesel Gross Margin
and Renewable Diesel Margin (unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)
2026
2025
2026
2025
Renewable Diesel segment adjusted EBITDA
$
258
$
(19)
$
296
$
(61)
Plus (Less):
Depreciation and amortization
(16)
(18)
(32)
(36)
JV depreciation and amortization
(23)
(23)
(45)
(45)
Planned turnaround costs
(1)
(25)
(2)
(36)
JV planned turnaround costs
(1)
(2)
(30)
(10)
Selling, general and administrative expenses
8
9
16
18
Income from equity method investments
(39)
(18)
(10)
(34)
Other income
(26)
(8)
(54)
(11)
Renewable Diesel gross margin
160
(104)
139
(215)
Plus (Less):
Operating expenses (excluding depreciation and amortization)
Analysts on Wall Street project that Marathon Petroleum (MPC - Free Report) will announce quarterly earnings of $14.52 per share in its forthcoming report, representing an increase of 266.7% year over year. Revenues are projected to reach $34.83 billion, increasing 2.1% from the same quarter last year.
The current level reflects an upward revision of 47.7% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain Marathon Petroleum metrics that are commonly tracked and forecasted by Wall Street analysts.
The average prediction of analysts places 'Refining & Marketing margin' at $32.86 . The estimate is in contrast to the year-ago figure of $17.58 .
It is projected by analysts that the 'Refining & Marketing - Refinery throughputs - Net refinery throughput' will reach 2,987.38 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 3,060.00 thousands of barrels of oil per day.
Analysts predict that the 'Refining & Marketing - Refinery throughputs - Crude oil refined' will reach 2,811.51 thousands of barrels of oil per day. Compared to the present estimate, the company reported 2,883.00 thousands of barrels of oil per day in the same quarter last year.
According to the collective judgment of analysts, 'Refining & Marketing - Refinery throughputs - Other charge and blendstocks' should come in at 195.00 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 177.00 thousands of barrels of oil per day.
Analysts expect 'Adjusted EBITDA- Refining & Marketing' to come in at $5.80 billion. Compared to the current estimate, the company reported $1.89 billion in the same quarter of the previous year.
Analysts' assessment points toward 'Adjusted EBITDA- Midstream' reaching $1.69 billion. Compared to the current estimate, the company reported $1.64 billion in the same quarter of the previous year.
View all Key Company Metrics for Marathon Petroleum here>>>
Shares of Marathon Petroleum have experienced a change of +18.8% in the past month compared to the +0.2% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), MPC is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Wall Street analysts forecast that Marathon Petroleum (MPC - Free Report) will report quarterly earnings of $14.52 per share in its upcoming release, pointing to a year-over-year increase of 266.7%. It is anticipated that revenues will amount to $34.83 billion, exhibiting an increase of 2.1% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 61.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some Marathon Petroleum metrics that Wall Street analysts commonly model and monitor.
Analysts' assessment points toward 'Refining & Marketing margin' reaching $32.86 . The estimate is in contrast to the year-ago figure of $17.58 .
Based on the collective assessment of analysts, 'Refining & Marketing - Refinery throughputs - Net refinery throughput' should arrive at 2,987.38 thousands of barrels of oil per day. Compared to the present estimate, the company reported 3,060.00 thousands of barrels of oil per day in the same quarter last year.
Analysts predict that the 'Refining & Marketing - Refinery throughputs - Crude oil refined' will reach 2,811.51 thousands of barrels of oil per day. Compared to the current estimate, the company reported 2,883.00 thousands of barrels of oil per day in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Refining & Marketing - Refinery throughputs - Other charge and blendstocks' will likely reach 195.00 thousands of barrels of oil per day. Compared to the present estimate, the company reported 177.00 thousands of barrels of oil per day in the same quarter last year.
According to the collective judgment of analysts, 'Adjusted EBITDA- Refining & Marketing' should come in at $5.80 billion. Compared to the current estimate, the company reported $1.89 billion in the same quarter of the previous year.
Analysts forecast 'Adjusted EBITDA- Midstream' to reach $1.69 billion. The estimate compares to the year-ago value of $1.64 billion.
View all Key Company Metrics for Marathon Petroleum here>>>
Over the past month, shares of Marathon Petroleum have returned +16.6% versus the Zacks S&P 500 composite's -1.5% change. Currently, MPC carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
, /PRNewswire/ -- The board of directors of Marathon Petroleum Corp. (NYSE: MPC) has declared a dividend of $1.00 per share on common stock. The dividend is payable Sept. 10, 2026, to shareholders of record as of the close of business Aug. 19, 2026.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream and midstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. More information is available at www.marathonpetroleum.com.
