Movement Alert|Marathon Petroleum Rises 3.1% in Regular Trading, Oil Price Strength and Post-Q2 Beat Analyst Upgrades Fuel Rally

Market Focus08-13 03:51

On August 13, Marathon Petroleum rose 3.1% in regular trading, trading at $346.2/share, with turnover of $635 million.

The rally was driven by sustained oil price strength combined with a wave of analyst target price upgrades following a blowout Q2 earnings report. The company reported adjusted EPS of $17.73, beating the $13.73 consensus by 29% and surging 348% year-over-year. Revenue came in at $52.34 billion, exceeding estimates by approximately 24%.

Multiple investment banks raised their price targets in response: TD Cowen to $357 (maintaining Buy), Raymond James to $350, Barclays to $321, and Mizuho to $304. The mean analyst target price has risen to $323.71 with an average overweight rating. Concurrently, WTI crude futures have rallied above $84/barrel amid ongoing Middle East geopolitical tensions surrounding the Strait of Hormuz, providing further tailwinds to the refining sector.

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