What Marathon Petroleum (MPC) Said on Its Q3 Earnings Call
Published . Updated .
Key takeaways
- Marathon Petroleum (NYSE:MPC) reported third-quarter 2026 earnings per share of $26.93 and adjusted EBITDA of $11.7 billion, supported by record refinery utilization and a stronger refining margin environment.
- Exposed: USO, XLE, XOM, CVX, COP
- Market reaction: price tracking starts with the next trading session.
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Marathon Petroleum (NYSE:MPC) reported third-quarter 2026 earnings per share of $26.93 and adjusted EBITDA of $11.7 billion, supported by record refinery utilization and a stronger refining margin environment. The company also announced agreements to sell its St. Paul Park and
Directly affected
- MPC Marathon Petroleum+8.7% 11d
Named in this report.
Indirectly affected
- USO United States Oil Fund+6.3% 30d
United States Oil Fund: its price follows crude oil. Linked by “petroleum” (oil) in this story.
- XLE Energy Select Sector SPDR+6.9% 30d
Energy Select Sector SPDR: its price follows crude oil. Linked by “petroleum” (oil) in this story.
- CRAK VanEck Oil Refiners ETF
VanEck Oil Refiners ETF: it holds refiners, whose margins move with fuel prices. Linked by “refinery” (refining) in this story.
- XOM ExxonMobil Holdings+2.0% 16d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “petroleum” (oil) in this story.
- CVX Chevron+9.6% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “petroleum” (oil) in this story.
- COP ConocoPhillips+11.6% 30d
ConocoPhillips (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “petroleum” (oil) in this story.
- BP BP p.l.c+6.7% 13d
BP p.l.c (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “petroleum” (oil) in this story.
- VLO Valero Energy+3.1% 30d
Valero Energy (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refinery” (refining) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| MPC | +3.01% | +3.95% | base | after close | after close | after close | after close |
| USO | +5.38% | +6.75% | base | after close | after close | after close | after close |
| XLE | +2.64% | +4.95% | base | after close | after close | after close | after close |
| CRAK | +2.29% | +2.54% | base | after close | after close | after close | after close |
| XOM | +2.57% | +5.49% | base | after close | after close | after close | after close |
| CVX | +1.76% | +4.58% | base | after close | after close | after close | after close |
| COP | +3.21% | +6.66% | base | after close | after close | after close | after close |
| BP | +4.63% | +5.96% | base | after close | after close | after close | after close |
| VLO | +0.27% | +3.25% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
What Marathon Petroleum (MPC) Said on Its Q3 Earnings Call Yahoo Finance
Source: Yahoo Finance
Price since this story was published: United States Oil Fund (USO)
| Company | When | Move | Status |
|---|---|---|---|
| BP | three days earlier | +5.96% | final price |
| BP | five days earlier | +4.63% | final price |
| Conocophillips (COP) | three days earlier | +6.66% | final price |
| Conocophillips (COP) | five days earlier | +3.21% | final price |
| CRAK | three days earlier | +2.54% | final price |
| CRAK | five days earlier | +2.29% | final price |
| Chevron (CVX) | three days earlier | +4.58% | final price |
| Chevron (CVX) | five days earlier | +1.76% | final price |
| Marathon Petroleum (MPC) | three days earlier | +3.95% | final price |
| Marathon Petroleum (MPC) | five days earlier | +3.01% | final price |
| United States Oil Fund (USO) | three days earlier | +6.75% | final price |
| United States Oil Fund (USO) | five days earlier | +5.38% | final price |
| VLO | three days earlier | +3.25% | final price |
| VLO | five days earlier | +0.27% | final price |
| Select Sector Spdr Tr (XLE) | three days earlier | +4.95% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | +2.64% | final price |
| ExxonMobil Holdings (XOM) | three days earlier | +5.49% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | +2.57% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. David J. Taylor sold Marathon Petroleum (MPC), worth $1,001 - $15,000 on 15 Oct 2026. That is 20 days before publication. Filed 29 Oct 2026. View the filing.
- Rep. David J. Taylor sold Marathon Petroleum (MPC), worth $1,001 - $15,000 on 22 Sep 2026. That is 43 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 21 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 65 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Pete Sessions sold Chevron (CVX), worth $15,001 - $50,000 on 14 Oct 2026. That is 21 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 42 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Chevron (CVX), worth $1,001 - $15,000 on 2 Sep 2026. That is 63 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Conocophillips (COP) (held by a spouse), worth $1,001 - $15,000 on 26 Aug 2026. That is 70 days before publication. Filed 14 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Conocophillips (COP) (held by a spouse), worth $1,001 - $15,000 on 24 Aug 2026. That is 72 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Conocophillips (COP), worth $1,000,001 - $5,000,000 on 21 Aug 2026. That is 75 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around United States Oil Fund (USO)
Companies carried with this story
- USO United States Oil Fund
In “What Marathon Petroleum (MPC) Said on Its Q3 Earnings Call,” United States Oil Fund (USO) is linked, with no stored direction, medium confidence. Reason on file: United States Oil Fund: its price follows crude oil. Linked by “petroleum” (oil) in this story
- XLE Select Sector Spdr Tr
Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “What Marathon Petroleum (MPC) Said on Its Q3 Earnings Call.” Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “petroleum” (oil) in this story
- XOM ExxonMobil Holdings
For “What Marathon Petroleum (MPC) Said on Its Q3 Earnings Call,” ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence. Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “petroleum” (oil) in this story
- CVX Chevron
In “What Marathon Petroleum (MPC) Said on Its Q3 Earnings Call,” Chevron (CVX) is linked, with no stored direction, medium confidence. Reason on file: Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “petroleum” (oil) in this story
- COP Conocophillips
Conocophillips (COP) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “What Marathon Petroleum (MPC) Said on Its Q3 Earnings Call.” Reason on file: ConocoPhillips (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “petroleum” (oil) in this story
- MPC Marathon Petroleum
Marathon Petroleum (MPC) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “What Marathon Petroleum (MPC) Said on Its Q3 Earnings Call.” Reason on file: Marathon Petroleum (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “petroleum” (oil) in this story
How “What Marathon Petroleum (MPC) Said on Its Q3 Earnings Call” reaches United States Oil Fund (USO)
On 4 Nov 2026, “What Marathon Petroleum (MPC) Said on Its Q3 Earnings Call” is the story that connects United States Oil Fund (USO) to this story.
United States Oil Fund (USO) is on the page because United States Oil Fund: its price follows crude oil. Linked by “petroleum” (oil) in this story
A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: its price follows crude oil. Linked by “petroleum” (oil) in this story
The price range for United States Oil Fund (USO), and the dates in the story
USO traded between 142.51 and 171.80 across 20 sessions. The latest close on file is 158.17. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70. XOM traded between 172.72 and 188.47 across 16 sessions. The latest close on file is 177.51.
What the saved facts support for United States Oil Fund (USO)
46 out of 100
“What Marathon Petroleum (MPC) Said on Its Q3 Earnings Call” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.