Marathon's Q3 Performance Surges Above Forecasts, But Analyst Flags Caution On Mid-Con Outlook For Q4

Marathon Petroleum Corporation (NYSE:MPC) shares are trading higher on Wednesday. Scotiabank analyst Paul. Y. Cheng, with a Sector Outperform rating and a $170 price target, shared views on third-quarter results reported yesterday.

On Tuesday, Marathon Petroleum reported revenue of $35.4 billion, topping estimates. Adjusted EPS was $1.87 vs. $0.98 expected.

Marathon Petroleum expects fourth-quarter Refining operating costs per barrel of $5.50 and Refinery throughputs of 2,880 mbpd. 

The analyst expects results to positively impact near-term share price performance, with refining operations performing ...