Marathon Petroleum Corporation Website

Marathon Petroleum Corporation

NYSE-MPC

Company Overview

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale. Its refined products include transportation fuels, such as reformulated gasolines and blend-grade gasolines; heavy fuel oil; and asphalt. This segment also manufactures aromatics, propane, propylene, and sulfur. It sells refined products to wholesale marketing customers in the United States and internationally, buyers on the spot market, and independent entrepreneurs who operate primarily Marathon branded outlets, as well as through long-term fuel supply contracts to direct dealer locations primarily under the ARCO brand. The Midstream segment transports, stores, distributes, and markets crude oil and refined products through refining logistics assets, pipelines, terminals, towboats, and barges; gathers, processes, and transports natural gas; and gathers, transports, fractionates, stores, and markets natural gas liquids. As of December 31, 2021, the company operated 7,159 brand jobber outlets in 37 states, the District of Columbia, and Mexico through independent entrepreneurs. Marathon Petroleum Corporation was founded in 1887 and is headquartered in Findlay, Ohio.

  • Name

    Marathon Petroleum Corporation

  • CEO

    Maryann T. Mannen

  • Website

    www.marathonpetroleum.com

  • Sector

    Oil, Gas and Consumable Fuels

  • Year Founded

    1887

Company Statistics

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Bulls Say

  • High-complexity facilities in the midcontinent and Gulf Coast position Marathon to capitalize on a variety of discount crude streams, endowing it with a feedstock cost advantage.

  • Closure of lower-quality refineries and investment in the remaining refineries as well as renewable diesel leave Marathon in a better competitive position in the long term.

  • European refining closures and structurally higher natural gas prices will underpin higher midcycle Atlantic Basin refining margins, benefiting US refiners like Marathon.

Bears Say

  • Marathon's refineries on the West Coast have higher costs and less cost-advantaged feedstock, while EVs threaten long-term demand more.

  • MPLX's growth relies heavily on investment in gathering and processing assets, which depends on continued drilling and thus increases its commodity price exposure relative to other refiner MLPs.

  • Renewable diesel projects diversify away from hydrocarbons but lack a source of low-cost feedstock and thus hold no competitive advantage while growth relies on government support.

Source: Morningstar Analysis - Nov 24, 2025

What's happening

Nov 13, 2025 - Dec 13, 2025

Marathon Petroleum Faces Challenges Amid Mixed Market Signals

  • Quarterly revenue of $34.81 billion exceeded estimates, but net margin concerns persist.
  • An emissions incident at the El Paso refinery raised environmental compliance issues.
  • Analyst price targets show mixed sentiment, with some indicating potential upward movement for energy stocks.

Over the past month, Marathon Petroleum Corp (MPC) experienced a decline of 5.6%, significantly underperforming the S&P 500's minimal drop of only 0.2%. This performance gap highlights that MPC faced considerable challenges during this period due to several bearish events and market reactions.

On November 17, MPC reported quarterly revenue of $34.81 billion, which surpassed analysts' expectations; however, it also revealed underlying concerns with a net margin of just 2.13% and return on equity at 9.76%. Despite announcing an increase in its quarterly dividend to $1.00 per share—up by nearly ten percent—investor sentiment remained cautious due to broader market conditions impacting energy stocks.

Compounding these negative sentiments was an emissions event at MPC's El Paso refinery on November 14 caused by issues with its main fractionator reflux pump, leading to shutdown procedures across process units. The Texas Commission on Environmental Quality became involved in addressing this incident, raising environmental compliance concerns that could affect operational stability and public perception.

Despite these bearish developments, there were some bullish indicators during the same timeframe; notably Piper Sandler raised their price target for MPC from $220 to $231 while maintaining a Neutral rating as of November 14. Additionally, discussions about technical patterns suggested potential upward movement for energy stocks including MPC; however, these sentiments did not translate into sustained positive momentum for the stock.

Throughout this turbulent month for MPC’s stock performance relative to broader indices such as the S&P 500 or even sector-specific benchmarks like Energy (XLE), it is important to note that Marathon Petroleum Corp outperformed the Energy sector by approximately 43.9%.

NYSE:MPC