MPC plans to sell the St. Paul Park and Mandan refineries and related midstream assets for $4.2 billion in cash, approved an additional $5.0 billion share repurchase authorization, and reported third-quarter net income of $7.45 billion versus $1.37 billion in 2025.
On November 2, 2026, we entered into a definitive agreement to divest our St. Paul Park, Minnesota and Mandan, North Dakota refineries and related midstream assets for $4.2 billion in cash, subject to working capital, inventory and other closing adjustments.On November 3, 2026 we announced that our board of directors approved an additional $5.0 billion share repurchase authorization that is in addition to the $5.0 billion share repurchase authorization announced on May 5, 2026.Net income attributable to MPC was $7.45 billion, or $26.59 per diluted share, for the third quarter of 2026 compared to $1.37 billion, or $4.51 per diluted share, for the third quarter of 2025Open the document at this passage
Marathon Petroleum agreed to sell the St. Paul Park and Mandan refineries, while MPLX agreed to sell associated midstream assets to CVR Energy for $4.2 billion; Marathon Petroleum will receive $3.4 billion and MPLX $750 million.
Source passage
MPC has agreed to sell the St. Paul Park and Mandan refineries, and MPLX has agreed to sell the associated midstream assets to CVR Energy for $4.2 billion. MPC will receive $3.4 billion, and MPLX will receive $750 million.Open the document at this passage
Marathon Petroleum reported third-quarter 2026 net income attributable to MPC of $7.4 billion and adjusted EBITDA of $11.7 billion, returned $3.3 billion of capital and raised its quarterly dividend 10%. It also announced a $4.2 billion refinery divestiture.
Financial results6 source passages
Marathon Petroleum Corp. Reports Third-Quarter 2026 ResultsThird-quarter net income attributable to MPC of $7.4 billion, or $26.59 per diluted share, adjusted net income of $7.5 billion, or $26.93 per diluted share$11.7 billion of adjusted EBITDA, demonstrating the earnings power of MPC’s value chains$3.3 billion of capital returned, reflecting strong cash generation and disciplined executionAnnounced a 10% increase in MPC’s quarterly dividend, consistent with our capital allocation prioritiesMPC announced the divestiture of the St. Paul Park and Mandan refineries, inclusive of related midstream assets for $4.2 billion.Open the document at this passage
Marathon Petroleum Corporation elected David E. Constable as a director effective March 1, 2027, expanding its board to 11 directors. He will serve on the Compensation and Organization Development Committee and Sustainability and Public Policy Committee.
Director or officer change, or executive pay, Other events3 source passages
Marathon Petroleum Corp. (NYSE: MPC) today announced that David E. Constable has been elected to the company's board of directors, effective March 1, 2027.The election of Constable will bring the MPC board to 11 directors.Mr. Constable was appointed to serve on the Board’s Compensation and Organization Development Committee and Sustainability and Public Policy Committee, also effective March 1, 2027.Open the document at this passage
TL;DR.MPC delivered sharply higher earnings and adjusted EBITDA, improvements across all three operating segments, record 100% refining utilization, $8.5 billion of operating cash flow excluding working-capital changes, and substantial capital returns; it also announced a $4.2 billion Mid-Con divestiture with proceeds earmarked mainly for Gulf Coast reinvestment. Headwinds included historically large secondary-product capture pressure, fourth-quarter turnaround constraints, higher corporate and midstream expenses, taxable sale proceeds, and continued refining-market volatility.
+MPC will receive $3.45 billion from the $4.2 billion Mid-Con divestiture and intends to reinvest it primarily in the Gulf Coast, while MPLX will redeploy $750 million in the Permian and Marcellus basins.new
+MPLX increased its quarterly distribution by 12.5% for a third consecutive year and expects to provide MPC with $3.1 billion of annual distributions.new
Bearish
−Fourth-quarter refining guidance projects 95% utilization and $230 million of turnaround expense that will constrain product upgrading and capture.new
−Third-quarter refining capture was 93%, with secondary products producing the largest absolute capture headwind the company had experienced.new
−MPC expects continued volatility in refining markets going forward.new
−MPC expects the refining proceeds from the asset sale to be taxable.new
−Corporate expenses increased to $328 million from $238 million, primarily because of higher incentive compensation.new
−Midstream operating expenses increased, partially offsetting growth in rates, throughputs, equity-affiliate income and acquisitions.new
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
2,040 of 1,966 funds reported for Sep 30 · net -2.4M sh shares · +344 new
Insider flowDistributing
Net -$739.2K over 90 days · 100% sells
Short interestFalling
2.34% of shares out · ▼ -10.8% MoM · 3.0 days cover
Volume signalNormal
Volume near normal
Institution breadthMulti-yr high
1,966 holders — near 3-yr high, broad support
Squeeze score44
elevated · 0–100
Fundamentals
Excellent
Revenue growth+26%
Y/Y
EPS growth+31%
Y/Y
Free cash flow$4.8B
ValuationP/E 8.1
below peers
Buyback$5.0B
authorized
Balance sheet$29.6B
net debt
Quant / Vol
risk profile
High
Volatility38%
annualized · 1-yr
Max drawdown−23%
past year
ATR4.6%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
what management promised — and delivered
Latest guidance
· from the 8-K filed Aug 4, 2026
Capital spending (excluding MPLX)
· 2026
Maintained
$1.5B
May 5, 2026$1.5B→changed toAug 4, 2026$1.5B
MPLX growth capital spending
· 2026$2.9B
Previous outlook
earlier release· from the 8-K filed May 5, 2026
Still-open targets the latest release did not restate under the same label.
Full-year planned turnaround expense
· 2026$1.35B
Prior guidance
period ended· from the 8-K filed Aug 4, 2026
Refining operating costs per barrel
· Third-Quarter 2026$6
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holdersNeutral
1 · 5 · 1
50 / 200-day cross
No crossNeutral
Price vs 200-day avg
+37%Bullish
Price vs 50-day avg
−2%Neutral
RSI (14)
48Neutral
MACD trend
NegativeBearish
52-week position
78%Neutral
Volume (OBV)
ConfirmsNeutral
Market signals — smart money & positioning
Mixed
Trend (MA cross)No cross
50d $424 › 200d $302 — 50d above 200d
Institutional flowDistributing
2,040 of 1,966 funds reported for Sep 30 · net -2.4M sh shares · +344 new
Insider flowDistributing
Net -$739.2K over 90 days · 100% sells
Short interestFalling
2.34% of shares out · ▼ -10.8% MoM · 3.0 days cover
Volume signalNormal
Volume near normal
Institution breadthMulti-yr high
1,966 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low$163Now $415 · 78%Range high$485
vs 200-day avg +37%vs 50-day avg -2%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Oil & Gas Refining & Marketing — same industry group
MPC plans to sell the St. Paul Park and Mandan refineries and related midstream assets for $4.2 billion in cash, approved an additional $5.0 billion share repurchase authorization, and reported third-quarter net income of $7.45 billion versus $1.37 billion in 2025.
Dividends per share over the trailing 365 days by ex-date · buyback figures as last
reported in SEC filings ("spent" derived as authorized − remaining; when several
programs run concurrently, authorized is their combined total per the newest filing) ·
components shown separately — trailing-year buyback spend isn't tracked, so no
combined shareholder yield is derived.
