Marathon Petroleum (MPC) Beats Forecasts in Q4 Results

The share price of Marathon Petroleum Corporation (NYSE:MPC) surged by 15.46% between February 2 and February 9, 2026, putting it among the Energy Stocks that Gained the Most This Week.

Marathon Petroleum Corporation (NYSE:MPC) is a leading integrated downstream energy company that operates the largest refining system in the United States.

Marathon Petroleum Corporation (NYSE:MPC) jumped after reporting strong results for Q4 2025 on February 3, with the company’s adjusted earnings of $4.07 per share comfortably beating forecasts by $1.36, as refining margins surged in the latter part of 2025. Similarly, Marathon’s revenue of $33.42 billion for the quarter also topped estimates by almost $3 billion.

Marathon posted a refining margin of $18.65 per barrel for Q4, up more than 44% YoY, boosting its refining and marketing earnings to about $2 billion, compared to $559 million a year earlier. The company operated its refineries at approximately 95% during the quarter, with total throughput of just over 3 million barrels per day. Its 606,000 bbl/day Garyville refinery in Louisiana and 253,000 bbl/day Robinson refinery in Illinois both set monthly crude throughput records during the quarter. The refiner also announced new projects to optimize its Gulf Coast refineries and revealed that it acquired two cargoes of Venezuelan crude oil at the end of January, with expectations that its refineries will process more heavy grades.

Marathon Petroleum Corporation (NYSE:MPC) received another boost on February 4 when TD Cowen analyst Jason Gabelman raised the firm’s price target on the stock from $183 to $198 while maintaining a ‘Buy’ rating. Similarly, analysts at Citi, UBS, and Wells Fargo raised their price targets on MPC following the company’s impressive Q4 performance.

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