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StocksMediumUpdated×5•Originally published 5 May 2026•Updated 6 May 2026•

1 min read

Marathon Petroleum Q1 Profit Beats Estimates on Strong Refining Margins

Key Facts

1Marathon Petroleum exceeded first-quarter profit estimates driven by enhanced refining margins due to tighter global supply.

2The company reported a refining and marketing margin of $17.74 per barrel, significantly higher than the previous year.

28 days ago

Version History

1 additional source confirmed this story

Version 528 days ago

What changed: Updated the story to include Wells Fargo's new price target of $335.00, representing a potential upside of 32.06%.

Version 429 days ago

What changed: Updated the story to include price target increases from TD Cowen and Citigroup analysts following the Q1 results.

Version 329 days ago

What changed: Added specific geopolitical context regarding the war in Iran as a primary driver for the refining margin strength and profit beat.

Version 229 days ago

What changed: Added performance details regarding the renewable diesel segment and growth outlook for the next quarter.

Version 129 days ago

What changed: Added specific details regarding the $8.6 billion share buyback authorization, the tripling of refining EBITDA, and the positive cash flow outlook through 2027.

Marathon Petroleum (MPC.N) reported robust first-quarter financial results, with earnings exceeding analyst estimates driven by enhanced refining margins. Adjusted profit reached $1.65 per share, supported by a significant $8.6 billion share buyback authorization. In a recent update, Wells Fargo & Company raised its price target for the stock to $335.00 while maintaining an Overweight rating, implying a potential upside of 32.06% from current levels. This follows TD Cowen increasing its target to $320 and Citigroup revising its outlook to $257 with a Neutral rating. Management projects continued cash flow acceleration through 2027, bolstered by growth in the renewable diesel segment. These analyst revisions highlight the company's operational strength and its ability to capitalize on global energy market shifts to drive shareholder value.