Marathon Petroleum Corp

MPC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Improved Market Conditions Result in Fair Value Estimate Increase for Marathon

Allen Good

Sep 23, 2025

Business Strategy and Outlook

The combination of Marathon and Andeavor created the largest US refiner with facilities in the midcontinent, Gulf Coast, and West Coast. Marathon planned to leverage this geographically diverse footprint to optimize its crude supply from North America, reducing feedstock costs and improving its operating cost structure.

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Marathon Petroleum Corp

Improved Market Conditions Result in Fair Value Estimate Increase for Marathon

Business Strategy and Outlook

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