On August 10, Marathon Petroleum rose 3.22% in regular trading, trading at $308.98/share, with turnover of $24.22 million. The stock continues to gain momentum following a blowout Q2 earnings report and a wave of analyst upgrades.

Marathon Petroleum reported Q2 adjusted EPS of $17.73, beating the consensus estimate of $13.73 by 29% and surging approximately 348% year-over-year from $3.96. Revenue came in at $52.34 billion, exceeding expectations by roughly 24%. The quarter saw crude throughput of 2.9 million barrels per day at 94% capacity utilization, supported by doubled Venezuelan crude processing volumes versus Q1 and Gulf Coast refineries running at full capacity.

Multiple investment banks raised their price targets in response: Barclays to $321, Raymond James to $350, TD Cowen to $357, Jefferies to $335, and UBS to $321. The company also highlighted robust demand for gasoline, diesel, and jet fuel, with U.S. jet fuel demand hitting a record high in June.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)