Marathon Petroleum Corp NYSE:MPC Price, Chart, News & Insight

Marathon Petroleum Slips 0.7% Despite Surging Refining Profits and Higher Shareholder Returns

Marathon Petroleum (NYSE: MPC) shares fell about 0.7% despite reporting exceptionally strong third-quarter 2026 earnings, record refining profitability and increased capital returns.

Net income attributable to MPC jumped to $7.4 billion, or $26.59 per diluted share, from $1.4 billion, or $4.51 per share, a year earlier. Adjusted net income reached $7.5 billion, or $26.93 per share, compared with $915 million, or $3.01 per share.

Adjusted EBITDA surged to $11.7 billion from $3.2 billion, driven primarily by Refining & Marketing. Segment adjusted EBITDA rose to $9.9 billion from $1.8 billion as higher crack spreads across all regions and 100% crude capacity utilization boosted results. Refining margin increased to $45.70 per barrel from $17.60.

Midstream adjusted EBITDA increased to $1.9 billion from $1.7 billion, while Renewable Diesel swung to positive adjusted EBITDA of $254 million from a $56 million loss, supported by stronger margins, regulatory credit values and higher throughput.

Cash generation supported substantial shareholder returns. Marathon returned $3.3 billion during the quarter, raised its quarterly dividend by 10% and authorized an additional $5 billion of share repurchases, bringing available authorization to about $8.1 billion at quarter-end.

The 0.7% decline appears to reflect investor caution around the sustainability of unusually strong refining margins rather than weakness in the reported quarter. With much of the earnings surge driven by elevated crack spreads, the market may be looking past the exceptional current profitability and focusing instead on how much of that strength can persist as refining conditions normalize.

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The Investor 11-03-26

Marathon Petroleum Stock Rises 3.7% as Mizuho Raises Price Target to $457

Marathon Petroleum shares rose about 3.7% to $458.62 after Mizuho raised its price target to $457 from $304 while maintaining a Neutral rating.

The sharp target increase suggests Mizuho has materially raised its valuation assumptions for the refiner, even though the firm is not yet taking a more bullish stance on the stock.

Probable reasons include a stronger refining margin environment, higher oil-product prices, resilient fuel demand and improved cash-flow expectations. The recent surge in crude oil prices may also be supporting broader energy-sector sentiment, although higher feedstock costs can create mixed effects for refiners depending on crack spreads.

Marathon Petroleum also benefits from its large refining footprint and exposure to midstream operations, which can provide some earnings diversification across the energy value chain.

With the stock already trading slightly above Mizuho’s new $457 target, the maintained Neutral rating suggests the analyst sees much of the improved outlook as already reflected in the current share price.

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European Investor 10-08-26

Marathon Petroleum Stock Rises 4% as Mizuho Raises MPC Price Target

Marathon Petroleum (NYSE: MPC) shares climbed about 4% after Mizuho raised its price target on the energy company to $304 from $284 while maintaining a Neutral rating.

Analyst Nitin Kumar’s revised target remains below the $333.11 share price, suggesting that Mizuho sees improved fundamentals but remains cautious about valuation following the stock’s strong performance.

The higher target likely reflects a favorable operating environment for the refining sector, including supportive refining margins and Marathon Petroleum’s strong position as one of the largest U.S. refiners. Its extensive refining network, midstream exposure and disciplined capital-return strategy provide additional support to earnings and cash generation.

However, the unchanged Neutral rating may indicate that much of this strength is already reflected in MPC’s valuation. Even so, the higher price target adds to positive sentiment around the company, with MPC shares gaining about 4% today.

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The Investor 08-11-26

Marathon Petroleum Stock Rises 1.5% Premarket as Jefferies Sets $335 Price Target

Marathon Petroleum (NYSE: MPC) shares gained 1.5% in premarket trading on Monday after Jefferies initiated coverage of the refining giant with a Buy rating and a $335 price target, reinforcing optimism as oil prices climbed on escalating geopolitical tensions in the Middle East.

Why Is Marathon Petroleum Stock Rising Today?

The premarket gain was driven by a combination of bullish analyst sentiment and strengthening energy markets.

Jefferies began coverage of Marathon Petroleum with a Buy rating and a $335 price target, highlighting confidence in the company's refining business, strong cash flow generation, and shareholder return strategy. The target implies further upside from the stock's recent trading levels.

Higher Oil Prices Support Energy Stocks

Energy shares broadly strengthened as Brent crude climbed after renewed military tensions between the United States and Iran raised concerns about potential supply disruptions in the Middle East.

Although refiners can experience mixed effects from higher crude prices, sustained volatility in energy markets often supports investor interest in the sector, particularly for companies with diversified operations and strong refining margins.

Marathon Petroleum remains one of the largest independent refiners in the United States and continues to benefit from its integrated refining network, midstream assets through MPLX, and disciplined capital allocation strategy.

What Investors Are Watching Next

Investors will focus on Marathon Petroleum's upcoming quarterly results for updates on refining margins, fuel demand, and capital returns through dividends and share repurchases. Market participants will also monitor crude oil prices and developments in the Middle East, which could continue influencing sentiment across the energy sector.

The combination of Jefferies' new Buy rating, a $335 price target, and rising oil prices appears to be supporting Marathon Petroleum shares in Thursday's premarket trading.

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European Investor 07-13-26

Marathon Petroleum said it will report its fourth-quarter and full-year 2025 financial results on February 3, 2026, and will host a conference call the same day at 11:00 a.m. EST to discuss the results. The earnings release and related materials will be made available on the company’s website ahead of the call, with a webcast replay accessible for two weeks.

Source: PR Newswire, Marathon Petroleum press release, January 5, 2026.

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The Investor 01-06-26

Marathon Petroleum Corp. (NYSE: MPC) will host a conference call on Tuesday, February 3, 2026, at 11 a.m. EST to discuss 2025 fourth-quarter and full-year financial results.

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The Investor 01-06-26

Marathon Petroleum reports strong Q3 results with higher earnings and dividend increase

Marathon Petroleum posted third-quarter 2025 net income of $1.4 billion, or $4.51 per diluted share, up from $622 million a year earlier. Adjusted net income reached $915 million, or $3.01 per share, supported by strong Refining & Marketing performance and steady Midstream growth. Adjusted EBITDA rose to $3.2 billion from $2.5 billion last year. The company returned $926 million to shareholders, including $650 million in buybacks, and announced a 10% dividend increase. MPLX, its midstream unit, raised its quarterly distribution by 12.5%, resulting in an expected $2.8 billion in annual payouts to Marathon. CEO Maryann Mannen highlighted the company’s focus on cash generation, portfolio optimization, and disciplined capital allocation.

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WS Investor 11-04-25

Marathon Petroleum Reports Q1 2025 Loss Amid Major Maintenance and Refining Margin Decline

Marathon Petroleum Corporation (MPC) reported a Q1 2025 net loss of $74 million, or $(0.24) per diluted share, compared to net income of $937 million, or $2.58 per diluted share, in Q1 2024. The loss was largely attributed to heavy planned refinery maintenance activity, the second largest in company history.
Key Financials and Segment Results:
• Adjusted EBITDA totaled $2.0 billion, down from $3.3 billion a year earlier.
• Midstream segment EBITDA rose to $1.72 billion, up 8% year-over-year.
• Refining & Marketing segment EBITDA dropped to $489 million from $1.99 billion, driven by narrower crack spreads.
• Renewable Diesel losses narrowed, with EBITDA at $(42) million vs. $(90) million in Q1 2024.
• Total capital returned to shareholders reached $1.3 billion, including $1.1 billion in share repurchases.
Strategic and Operational Developments:
• MPLX, the midstream subsidiary, will acquire full ownership of the BANGL pipeline for $715 million and has taken FID on the 1.75 bcf/d Traverse Pipeline.
• Additional investments include expanding its stake in the Matterhorn Express Pipeline and acquiring Whiptail Midstream’s crude gathering business.
• Ongoing projects include Gulf Coast fractionators, LPG export terminal, and major investments at Los Angeles, Galveston Bay, and Robinson refineries targeting emissions compliance, distillate upgrading, and jet fuel flexibility.
Refining & Throughput Data:
• Crude throughput was 2.8 million bpd with 89% utilization.
• R&M margin declined to $13.38 per barrel from $19.35.
• West Coast refining remained strongest by margin at $17.94/bbl, while the Gulf Coast fell to $11.75/bbl.
Outlook for Q2 2025:
• Planned turnaround costs expected to decline to $265 million.
• Refining throughput estimated at 2.945 million bpd.
• Corporate expenses projected at $220 million, including $20 million of D&A.
Despite the quarterly loss, MPC emphasized long-term growth through targeted infrastructure investments and remained optimistic about refining margin recovery into summer.

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WS News 05-06-25

The board of directors of Marathon Petroleum Corp. (NYSE: MPC) has declared a dividend of $0.91 per share on common stock.

The dividend is payable June 10, 2025, to shareholders of record as of the close of business May 21, 2025.

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WS Investor 05-01-25

Fitch Assigns 'BBB' Rating to Marathon Petroleum Corporation's Senior Unsecured Notes

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WS Investor 03-02-25

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