On July 16, Marathon Petroleum rose 3.04% in regular trading, trading at $307.82/share, with turnover of $202 million.

On the news front, Middle East geopolitical tensions intensified as Iran reportedly instructed Houthi forces to stand by for a potential blockade of the Bab el-Mandeb Strait, while Hormuz Strait transit volumes dropped sharply. The two critical global energy chokepoints faced simultaneous disruption risk for the first time, pushing WTI crude above the $80 threshold.

Meanwhile, multiple investment banks raised price targets on Marathon Petroleum in quick succession. Citigroup lifted its target from $257 to $303 while maintaining a Neutral rating; Jefferies raised to $335 from $296 with a Buy rating; and UBS adjusted to $321 from $280. The FactSet consensus mean target now stands at $295.31 with an average Overweight rating.

The broader refining sector rallied in tandem, with HF Sinclair up 3.51%, Calumet Specialty Products up 4.66%, PBF Energy up 3.39%, Valero up 3.35%, and Phillips 66 up 2.82%.

(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.)