• November 6, 2024

Marathon's Q3 Performance Surges Above Forecasts, But Analyst Flags Caution On Mid-Con Outlook For Q4

Marathon Petroleum Corporation (NYSE:MPC) shares are trading higher on Wednesday. Scotiabank analyst Paul. Y. Cheng, with a Sector Outperform rating and a $170 price target, shared views on third-quarter results reported yesterday. On Tuesday, Marathon Petroleum reported revenue of $35.4 billion, topping estimates. Adjusted EPS was $1.87 vs. $0.98 expected. Marathon Petroleum expects fourth-quarter Refining operating costs per barrel of $5.50 and Refinery throughputs of 2,880 mbpd. The analyst e