Morgan Stanley raises Marathon Petroleum stock price target on earnings beat

Marathon Petroleum (MPC) agreed to sell its St. Paul Park and Mandan refineries to CVR Energy for $4.2 billion, including related midstream and marketing operations. The sale reduces MPC's northern U.S. refining footprint, allowing it to focus on Gulf Coast operations. MPC reported Q3 2026 revenue of $56.5 billion and net income of $7.4 billion, with a $1.10 dividend. Investors will watch how the sale impacts refining flexibility and margins, as well as the allocation of proceeds.

CVR Energy (CVI) will acquire two U.S. refineries and a marketing platform from Marathon Petroleum (MPC) for $4.2B. The deal, expected to close by year-end, includes facilities with $1.2B EBITDA (trailing 12 months) and would boost CVI's EBITDA to $2.0B (pro forma) for the nine months ended 30 September 2026. The acquisition is projected to increase CVI's EPS by over 105%.

Marathon Petroleum (MPC) reported Q3 2026 earnings, highlighting a 93% capture rate impacted by secondary product headwinds. The company plans to divest refineries for $4.2B, reinvesting proceeds into the U.S. Gulf Coast. MPC expects record heavy Canadian crude processing and remains constructive on 2027 refining margins. CEO Maryann Mannen emphasized capital allocation priorities, including dividends and buybacks.

Wells Fargo raised its price target on Marathon Petroleum (MPC) to $564 from $560, maintaining an Overweight rating. MPC reported Q3 2026 adjusted EPS of $26.93, beating estimates, with refining operating income of $9,204M. The company announced a $5B share repurchase and a $4.2B refinery sale. MPC's stock has surged 166% YTD, trading at a P/E of 14.86.

Marathon Petroleum (MPC.US) reported Q3 2026 revenue of $56.487B, up 61% YoY, with EPS of $26.93, beating estimates. Morgan Stanley raised its price target to $458. The company plans to sell refineries to CVR Energy (CVI.US) for $4.2B and reinvest in Gulf Coast projects. Management expects strong refining margins through 2027.

CVR Energy (CVI) will acquire two US refineries and marketing assets from Marathon Petroleum (MPC) for $4.2bn. The deal includes facilities in Minnesota and North Dakota with a combined capacity of 177,000 barrels per day. CVR expects the acquisition to boost its EBITDA by $1.2bn annually, with financing from debt, equity, and cash. The transaction is subject to regulatory approvals and expected to close by the end of 2026.