Marathon Petroleum Corporation
- Open
- 281.43
- Day high
- 283.68
- Day low
- 279.05
- Prev close
- 280.68
- Volume
- 1.8M
- Mkt cap
- $82.8B
- P/E (TTM)
- 18.5
- EPS (TTM)
- $15.31
- P/B
- 4.9
- P/S
- 0.6
- Yield
- 1.38%
- Per share
- $3.91
- ▼Insiders net selling -$2.0M over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions mixed (13F)
Marathon Petroleum Corporation (MPC) is a Energy company listed on NYSE. The stock is up 55% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4). Drillr has 15 published research articles covering MPC.
Marathon Petroleum Corporation (MPC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MPC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.74 | $1.65 | +123.3% | $34.6B | +3.4% |
| Feb 3, 2026 | $2.72 | $4.07 | +49.6% | $32.8B | +5.7% |
| Feb 4, 2025 | $0.02 | $0.77 | +3401.6% | $33.5B | +1.0% |
| Apr 30, 2024 | $2.42 | $2.58 | +6.6% | $32.7B | +2.0% |
| Jan 30, 2024 | $2.20 | $3.98 | +80.9% | $36.3B | +4.8% |
| Oct 31, 2023 | $7.75 | $8.14 | +5.0% | $41.0B | +2.5% |
| Aug 1, 2023 | $4.59 | $5.32 | +15.9% | $36.4B | +6.7% |
| May 2, 2023 | $5.74 | $6.09 | +6.1% | $34.9B | -2.0% |
| Jan 31, 2023 | $5.67 | $6.65 | +17.3% | $39.9B | +17.7% |
| Nov 1, 2022 | $7.07 | $7.81 | +10.5% | $45.8B | +27.7% |
| Aug 2, 2022 | $8.04 | $10.61 | +32.0% | $54.2B | +34.4% |
| May 3, 2022 | $1.11 | $1.49 | +34.2% | $38.4B | +24.5% |
MPC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 8, 2026 | Henschen Michael A IIofficer: Ex VP, Refining | Sell | 1,372 | $268.75 |
| Jun 8, 2026 | Henschen Michael A IIofficer: Ex VP, Refining | Option | 4,964 | $49.94 |
| Jun 8, 2026 | Henschen Michael A IIofficer: Ex VP, Refining | Sell | 4,964 | $268.85 |
| May 15, 2026 | Hessling Ricky D.officer: Chief Commercial Officer | Sell | 1,000 | $250.00 |
| May 4, 2026 | Rucker Kim K.W.director | Grant | 728 | — |
| May 4, 2026 | Bayh Evandirector | Grant | 728 | — |
| May 4, 2026 | Al Khayyal Abdulaziz Fahddirector | Grant | 728 | — |
| May 4, 2026 | COHEN JONATHAN Zdirector | Grant | 728 | — |
| May 4, 2026 | CAMPBELL JEFFREY Cdirector | Grant | 728 | — |
| May 4, 2026 | Paterson Eileen P.director | Grant | 728 | — |
| May 4, 2026 | STICE J MICHAELdirector | Grant | 728 | — |
| May 4, 2026 | SEMPLE FRANK Mdirector | Grant | 728 | — |
| May 4, 2026 | SURMA JOHN Pdirector | Grant | 728 | — |
| May 4, 2026 | Ellison-Taylor Kimberly Ndirector | Grant | 728 | — |
| Mar 17, 2026 | Hessling Ricky D.officer: Chief Commercial Officer | Sell | 1,626 | $228.18 |
Source: MPC SEC Form 4 filings, latest Jun 8, 2026. For informational purposes only — not investment advice.
See the full MPC insider & 13F page →MPC research & analysis
SHEL: Hormuz Blockade Tightens LNG Supply for Majors
The Hormuz blockade creates a bifurcated outcome: LNG producers with Middle East assets (Shell, ExxonMobil, TotalEnergies) face 2-3 quarter supply disruptions and margin compression, while refining-heavy majors and integrated producers with refining exposure benefit from crude-product spread widening. Consensus has treated all majors symmetrically on Brent upside, missing the structural divergence. LNG-heavy names should underperform the refining basket by 5-10% over the next 2-3 quarters.
SHELXOMCVXAirlines' Jet Fuel Costs Dwarf Refiners' Crack Spread Gains by 3:1 Margin
Persistent $150 crude jet fuel prices create a zero-sum margin transfer: airlines lose 8-10% operating income while refiners gain 12-15%. The market's focus on passenger surcharges misses the structural asymmetry. Long VLO/MPC paired with AAL/LUV targets +10-15% relative return over 3-6 months, breaking if jet fuel reverts to $90 by September or airlines outperform refiners by 5%+ over 120 days.
AALDALLUVWhich US Refiners Reap Most From Record Margins as Jet Fuel Doubles?
Record refining margins and jet fuel spikes position VLO, MPC and PSX for 15-25% Q2 beats, overlooked in consensus models. Coastal giants lead on complexity and scale versus mid-tiers. Falsifies on crack collapse below $15/bbl by Q3 end.
VLOPSXHFC$4 Gas Alert: MPC, VLO Surge While Ford and Costco Face the Squeeze
Strait of Hormuz threats fuel $4 gas fears, supercharging refiner margins for MPC and VLO while hitting Ford's truck sales and testing Costco's pricing power. Integrated majors XOM and CVX offer balanced upside amid volatility.
VLOXOMCVXIran Hormuz Tolls Threaten 20% of Oil Supply — XOM and CVX Top Winners as Asia Pivots
Iran's threatened Hormuz tolls on 20% of global oil flows are accelerating Asia's pivot to US exporters via barter deals. XOM and CVX top the winners with massive FCF and production ramps, while COP and refiners like MPC follow. Ranked conviction favors integrated upstream leaders amid tightening supply.
XOMCVXCOPUS Crude Exports Hit Record Highs: XOM Leads 6 Winners From Asia's Iran Pivot
US crude exports hit records on April 9 amid Iran disruptions, boosting exporters like XOM and CVX with Asian ties. Analysis ranks six majors by exposure, financials, and valuation, naming XOM the top pick.
XOMCVXCOPIran Asset Unfreeze Flips the Energy Trade — Refiners VLO and MPC Beat XOM and CVX
The U.S. release of frozen Iranian assets signals potential oil price relief, favoring refiners like VLO and MPC over upstream giants XOM, CVX, OXY, and COP in an energy paradox. Upstream has surged on conflict fears, but de-escalation exposes margin squeezes. Ranked picks highlight refiner upside at attractive valuations.
XOMCVXOXYVenezuela Sanctions Lifted: VLO, MPC Get Cheap Crude Boost — COP and OXY Face Pressure
US sanctions relief on Venezuelan official Rodríguez paves way for heavy crude ramp, favoring Gulf refiners (VLO, MPC, PSX) via cheaper feedstock while pressuring shale producers (COP, OXY). Integrated XOM holds steady. Top picks: refiners at attractive multiples amid tight global capacity.
VLOPSXCOPRefining Margins Hit Record Highs — VLO, MPC, and PSX Are the Biggest Winners
As global refining margins reach unprecedented highs, US downstream energy companies are positioned to benefit significantly. This article analyzes key players like Valero Energy, Marathon Petroleum, and Phillips 66, highlighting their financial performance and growth potential in this favorable market environment.
VLOPSXHFCRecord US Fuel Exports Crush VLO and MPC Rivals — While UPS and FDX Pay the Price
Record March US fuel exports to Europe/Asia amid Middle East gaps boost refiner margins for VLO, MPC, PSX, while diesel costs pressure FDX, UPS, CSX. MPC tops conviction list at 17.8x P/E with midstream tailwinds; UPS lags with -17% 1Y return.
VLOPSXFDXUS Fuel Exports Hit Record High: Why VLO and MPC Are Primed for the Margin Boom
Record March US fuel exports to Europe/Asia amid Middle East gaps have ignited global refining margins, favoring Gulf Coast-heavy US refiners like VLO and MPC. We analyze six downstream leaders, ranking conviction based on export access, costs, and valuations amid the crack boom.
VLOPSXDINOIran Airstrike Aftermath: Why XOM's Rally Is Stalling While LMT Keeps Climbing
US withdrawal from Iran ops hands Hormuz patrols to others, risking disruptions that funnel Asian demand to US exporters. Exxon and Chevron lead with scale and growth, while ConocoPhillips offers value; refiners like MPC and VLO gain indirectly. Ranked picks favor upstream giants amid barter trade shifts.
XOMCVXCOP$4 Gas: VLO, MPC, XOM Margin Boom — While Ford and Costco Take the Hit
U.S. gasoline at $4/gallon boosts refiners like VLO, MPC, and XOM via fat margins, while hurting Ford, Booking, and even Costco through curbed spending. Valero tops conviction for pure-play exposure at attractive multiples.
VLOXOMFOil Hits $150 on Hormuz Crisis — XOM and CVX Lead as Asia Pivots to US Supply
Hormuz crisis spikes oil to $150/bbl, boosting US exporters as Asia pivots via barter. XOM and CVX lead with integrated Asia exposure; COP/OXY follow on upstream strength. Refiners MPC/VLO gain margins but rank lower.
XOMCVXCOPBrent Above $120 Despite Ceasefire: XOM, CVX, COP Lead as Asia Pivots to US Oil
Despite a US-Iran ceasefire, Middle East disruptions keep Brent above $120/bbl, spurring Asian buyers to US exporters via barter shifts. ExxonMobil, ConocoPhillips, and Chevron top the ranked list for their scale, growth, and LNG exposure. Refiners like MPC and VLO provide value amid high cracks.
XOMCVXCOP
Marathon Petroleum Corporation company profile
Overview
Marathon Petroleum Corporation (NYSE:MPC) is one of the largest petroleum refining companies in the United States, with operations spanning the entire downstream energy value chain. Founded in 1887 and spun off from Marathon Oil Corporation in 2011, the company has grown through strategic acquisitions and organic expansion to become a leading integrated downstream energy company. Headquartered in Findlay, Ohio, Marathon Petroleum operates refineries across key regions of the United States and maintains a significant midstream infrastructure network through its majority ownership of MPLX LP, a master limited partnership focused on energy infrastructure.
Business
Marathon Petroleum operates as an integrated downstream energy company, meaning it processes crude oil into refined petroleum products and distributes them through an extensive network. The downstream energy sector refers to the portion of the oil and gas industry that refines crude oil into finished products like gasoline, diesel, and jet fuel, then markets and distributes these products to consumers. The company operates through two primary business segments that generate distinct revenue streams: 1. **Refining & Marketing Segment (approximately 85-90% of total revenue)**: This segment operates 13 refineries across three key regions - the Gulf Coast, Mid-Continent, and West Coast - with a combined crude oil processing capacity of approximately 3 million barrels per day. The refineries convert crude oil and other feedstocks into transportation fuels including gasoline, diesel, and jet fuel, as well as specialty products like asphalt, heavy fuel oil, aromatics, propane, and sulfur. The company markets these refined products through approximately 7,159 branded retail locations operating under the Marathon and ARCO brands, along with wholesale sales to distributors and direct sales to commercial customers. 2. **Midstream Segment (approximately 10-15% of total revenue)**: Through its majority ownership of MPLX LP, Marathon Petroleum operates an extensive network of pipelines, terminals, storage facilities, and transportation assets. This infrastructure transports crude oil to refineries and moves refined products from refineries to market. The midstream operations also include natural gas gathering and processing, as well as natural gas liquids (NGLs) transportation and fractionation. This segment provides critical logistics support for the refining operations while also serving third-party customers. The company also operates a smaller **Renewable Diesel Segment**, which produces renewable diesel fuel from vegetable oils and other bio-based feedstocks at facilities in Martinez, California, through a joint venture with Neste, a Finnish renewable fuels company.
Competitive moat
Marathon Petroleum possesses a moderate to strong economic moat built primarily on scale advantages, integrated operations, and strategic asset positioning. The company's competitive advantages stem from several key factors that create barriers to entry and provide defensive characteristics. The company's **scale and integration** represent its strongest moat elements. Operating 13 refineries with 3 million barrels per day of processing capacity provides significant economies of scale in purchasing crude oil, optimizing operations, and spreading fixed costs. The integration between refining operations and midstream infrastructure through MPLX creates operational synergies and reduces transportation costs compared to standalone refiners. This integrated model allows Marathon Petroleum to capture value across multiple points in the supply chain. **Strategic asset location** provides another competitive advantage. The company's refineries are positioned in key markets near major demand centers and export facilities, reducing transportation costs and providing access to diverse markets. The Gulf Coast refineries benefit from proximity to both domestic markets and export terminals, while West Coast assets serve markets with limited refining capacity and high barriers to new construction. **Operational expertise and commercial capabilities** have enabled Marathon Petroleum to consistently achieve high capture rates relative to benchmark crack spreads, indicating superior execution compared to peers. The company's ability to optimize crude oil sourcing, product mix, and market timing provides ongoing competitive advantages. However, the moat faces several challenges and limitations. The **cyclical nature** of refining margins creates earnings volatility that can't be completely eliminated through operational excellence. **Regulatory pressures**, particularly environmental regulations, require ongoing capital investments and could force asset retirements. The **long-term energy transition** toward renewable sources and electric vehicles poses a structural threat to petroleum product demand, though this transition is expected to occur over decades rather than years. **Competitive threats** come from other large integrated refiners with similar scale advantages, potential new refining capacity additions globally, and alternative fuel sources. However, the capital-intensive nature of refining and increasingly stringent environmental regulations create high barriers to new entry in developed markets like the United States.
Risks & safety
Marathon Petroleum demonstrates a **moderate margin of safety** with solid financial fundamentals but some cyclical risks and leverage concerns. **Liquidity and Solvency**: - Cash and short-term investments of $3.8 billion as of Q1 2025 provides adequate liquidity buffer - Current ratio of 1.19 indicates tight but manageable short-term liquidity - Debt-to-equity ratio of 1.96 represents elevated leverage, though typical for capital-intensive energy companies - Negative free cash flow of $727 million in Q1 2025 raises near-term cash generation concerns, though this was impacted by seasonal factors and planned maintenance **Valuation Metrics**: - EV/EBITDA of 15.7x appears elevated compared to historical averages, suggesting limited valuation safety - Price-to-book ratio of 2.78x indicates shares trading at a premium to book value - Price-to-earnings ratios have varied significantly due to cyclical earnings volatility **Other Considerations**: - Strong cash generation capability during favorable refining environments, with $6.1 billion free cash flow in 2024 - Cyclical business model creates earnings volatility and makes consistent valuation challenging - Committed dividend policy and share repurchase programs provide some downside support - Investment-grade credit profile maintained despite leverage levels
Recent development
Over the past several years, Marathon Petroleum has executed a comprehensive strategic transformation focused on optimizing its integrated downstream platform while positioning for long-term market changes. The company has pursued several key strategic initiatives that demonstrate both operational excellence and capital discipline. **Operational Excellence and Commercial Performance**: Marathon Petroleum has significantly improved its refining operations, achieving consistently high utilization rates (90%+ capacity) and exceptional margin capture rates approaching 100% of benchmark crack spreads. This improvement reflects enhanced commercial capabilities, better crude oil sourcing strategies, and operational optimization across its refinery network. The company completed major turnaround projects and invested in high-return infrastructure improvements, including a $700 million modernization project at its Los Angeles refinery. **Midstream Expansion Strategy**: Through MPLX, the company has aggressively expanded its midstream infrastructure with a "wellhead-to-water" strategy, particularly in the Permian Basin and Gulf Coast regions. Recent initiatives include over $1 billion in midstream acquisitions and a $2.5 billion multi-year investment in NGL infrastructure, including new fractionation complexes and export terminals. These investments target mid-teen returns and support the company's integrated value chain advantages. **Renewable Energy Transition**: Marathon Petroleum has made measured investments in renewable fuels, most notably through its joint venture with Neste at the Martinez, California facility, which produces renewable diesel from bio-based feedstocks. The facility has faced operational challenges but represents the company's approach to energy transition - pursuing opportunities with attractive returns while maintaining focus on traditional refining excellence. **Capital Allocation Discipline**: The company has demonstrated strong capital discipline, maintaining a focused $1.25 billion annual capital budget while returning substantial cash to shareholders through dividends and share repurchases. Marathon Petroleum has authorized multiple share buyback programs totaling billions of dollars and increased its dividend, reflecting confidence in cash generation capabilities and commitment to shareholder returns.
MPC company profile · for informational purposes only — not investment advice.
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