Marathon Petroleum Corp

MPC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Marathon Petroleum Benefits From Refining Market Disruptions and High Margins; Increasing Fair Value

Allen Good

Sep 14, 2026

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. Since the merger, management has improved its operating cost structure and commercial operations, increasing competitiveness.

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Marathon Petroleum Corp

Marathon Petroleum Benefits From Refining Market Disruptions and High Margins; Increasing Fair Value

Business Strategy and Outlook

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