https://investus.pages.dev/tags/marathon-petroleum/Recent content in Marathon Petroleum on investusHugo -- gohugo.ioko-KRFri, 09 Oct 2026 18:40:27 +0900https://investus.pages.dev/posts/marathon-petroleum-%ED%94%BC%ED%81%AC-%EC%A0%95%EC%A0%9C%EB%A7%88%EC%A7%84%EC%9D%B4-%EC%95%84%EB%8B%88%EB%9D%BC-fcf-%EB%B0%94%EB%8B%A5-%EC%83%81%ED%96%A5%EC%9D%98-%EC%9E%AC%ED%8F%89%EA%B0%80-mpc-20261009/Fri, 09 Oct 2026 18:40:27 +0900https://investus.pages.dev/posts/marathon-petroleum-%ED%94%BC%ED%81%AC-%EC%A0%95%EC%A0%9C%EB%A7%88%EC%A7%84%EC%9D%B4-%EC%95%84%EB%8B%88%EB%9D%BC-fcf-%EB%B0%94%EB%8B%A5-%EC%83%81%ED%96%A5%EC%9D%98-%EC%9E%AC%ED%8F%89%EA%B0%80-mpc-20261009/<h2 id="executive-summary">Executive Summary </h2><ul> <li><strong>티커</strong>: MPC · NYSE | <strong>종목명</strong>: Marathon Petroleum</li> <li><strong>시가총액</strong>: 1,301억달러, yfinance 기준</li> <li><strong>핵심은 R&amp;M 사이클보다 MPLX·수율개선·환원 결합</strong></li> <li><strong>종가 463달러·YTD +183.8%, 단기 기대 선반영</strong></li> <li><strong>프리미엄 조건은 2027년 이후 FCF 바닥 반복성</strong></li> </ul> <div class="thesis-box"> <p><strong>💡 투자 Thesis (One-Liner)</strong></p> <p><strong>①</strong> R&amp;M 마진 민감도와 MPLX 분배 현금흐름 결합으로 초과수익을 벌고, <strong>②</strong> 미국 최대급 정제 네트워크·원유 조달 유연성·미드스트림 통합 때문에 2026～2028년 지속되며, <strong>③</strong> El Paso·Robinson·Garyville 수율 개선과 MPLX NGL 확장 때문에 환원 레버리지가 터지는데, <strong>④</strong> 시장은 피크 정제마진의 일회성 이익이라는 믿음 때문에 정상화 이후 FCF 바닥 상향을 가격에 충분히 반영하지 못함.</p> <p><em>— 핵심 가정: 2027년까지 미국 정제 공급 타이트 지속, 마진 정상화 후에도 수율·비용 개선 효과 잔존, MPLX 분배 성장과 MPC 자사주 매입 병행 가능성</em></p> </div> <h2 id="thesis-분해표">Thesis 분해표 </h2><table> <thead> <tr> <th>절</th> <th>핵심논리</th> <th>근거</th> <th>신뢰도</th> <th>반증조건</th> </tr> </thead> <tbody> <tr> <td>①</td> <td>R&amp;M EBITDA/배럴 확대와 MPLX 현금흐름의 FCF 증폭</td> <td>R&amp;M EBITDA/배럴 24.84달러, 전년 6.79달러; Midstream EBITDA 17.8억달러(2026년 2분기 8-K)</td> <td>실제</td> <td>R&amp;M EBITDA/배럴 15～20달러 이하 회귀와 Midstream 성장 둔화</td> </tr> <tr> <td>②</td> <td>규모·처리량·미드스트림 통합의 복합 해자</td> <td>처리량 290만bpd, 가동률 94%, MPLX NGL 성장 전략(2026년 2분기 8-K)</td> <td>실제</td> <td>경쟁사 대비 가동률·마진 프리미엄 소멸</td> </tr> <tr> <td>③</td> <td>고수익 수율 개선과 자본환원 동시 발동</td> <td>El Paso·Robinson 2분기 가동, 주주환원 28억달러, 잔여 자사주 61억달러(2026년 2분기 8-K)</td> <td>실제</td> <td>프로젝트 EBITDA 기여 미미, 자사주 집행 급감</td> </tr> <tr> <td>④</td> <td>피크이익 할인 과도 가능성</td> <td>선행 PER 9.0배, 평균 목표가 388.9달러 vs 현재가 463.34달러(yfinance)</td> <td>추정</td> <td>EPS 정상화 후 FCF 바닥 하향 확인</td> </tr> </tbody> </table> <h2 id="비즈니스-모델수익구조">비즈니스 모델·수익구조 </h2><ul> <li>업의 본질: 원유·NGL의 연료·물류 현금흐름 전환</li> <li>수익 변수: 정제마진, 처리량, MPLX, 재생디젤 크레딧</li> <li>P 구조: R&amp;M 마진 36.33달러/배럴, 전년 17.58달러</li> <li>전년 대비 +106.7%, 2026년 2분기 8-K 기준</li> <li>Q 구조: 처리량 290만bpd, 원유가동률 94%</li> <li>고정비 흡수 효과 확대</li> <li>C 구조: 정제 운영비 5.72달러/배럴</li> <li>전년 5.34달러 대비 +7.1%, 비용 압력 존재</li> </ul> <table> <thead> <tr> <th>사업부</th> <th style="text-align: right">2026년 2분기 조정 EBITDA</th> <th style="text-align: right">전년 동기</th> <th>성장 해석</th> <th>출처</th> </tr> </thead> <tbody> <tr> <td>Refining &amp; Marketing</td> <td style="text-align: right">66.55억달러</td> <td style="text-align: right">18.90억달러</td> <td>크랙스프레드 급등·가동률 레버리지</td> <td>SEC 2026년 8-K EX-99.1</td> </tr> <tr> <td>Midstream</td> <td style="text-align: right">17.78억달러</td> <td style="text-align: right">16.41억달러</td> <td>요율·처리량·계열사 성장</td> <td>SEC 2026년 8-K EX-99.1</td> </tr> <tr> <td>Renewable Diesel</td> <td style="text-align: right">2.58억달러</td> <td style="text-align: right">-0.19억달러</td> <td>마진·처리량·규제크레딧 개선</td> <td>SEC 2026년 8-K EX-99.1</td> </tr> <tr> <td>변수</td> <td style="text-align: right">2025년 2분기</td> <td style="text-align: right">2026년 2분기</td> <td>변화</td> <td>해석</td> </tr> <tr> <td>&mdash;</td> <td style="text-align: right">&mdash;:</td> <td style="text-align: right">&mdash;:</td> <td>&mdash;:</td> <td>&mdash;</td> </tr> <tr> <td>R&amp;M 마진</td> <td style="text-align: right">17.58달러/배럴</td> <td style="text-align: right">36.33달러/배럴</td> <td>+106.7%</td> <td>단가 레버리지 핵심</td> </tr> <tr> <td>R&amp;M EBITDA</td> <td style="text-align: right">6.79달러/배럴</td> <td style="text-align: right">24.84달러/배럴</td> <td>+265.8%</td> <td>영업 레버리지 급증</td> </tr> <tr> <td>정제 운영비</td> <td style="text-align: right">5.34달러/배럴</td> <td style="text-align: right">5.72달러/배럴</td> <td>+7.1%</td> <td>비용 압력은 제한적</td> </tr> <tr> <td>처리량</td> <td style="text-align: right">306만bpd</td> <td style="text-align: right">294만bpd</td> <td>-3.8%</td> <td>Q는 고수준 유지, P 중심 개선</td> </tr> </tbody> </table> <h2 id="촉발-사건재평가-맥락">촉발 사건·재평가 맥락 </h2><ul> <li>52주 신고가 463달러, 종가 463달러, yfinance 기준</li> <li>3개월 +55.3%, YTD +183.8%, yfinance 기준</li> <li>2026년 2분기 순이익 51억달러, 희석 EPS 17.73달러</li> <li>2026년 2분기 조정 EBITDA 84.6억달러, 전년 32.9억달러</li> <li>최근 120일 IB 목표가 상향 다수, yfinance 기준</li> <li>Goldman Sachs 472달러, Mizuho 457달러</li> <li>평균 목표가 388.9달러 대비 현재가 약 19.1% 프리미엄</li> <li>다음 검증 이벤트: 2026년 11월 3일 실적 발표</li> </ul> <h2 id="동태적-가치-변화">동태적 가치 변화 </h2><ul> <li>매출 2022년 1,774.5억달러 → 2025년 1,327.0억달러</li> <li>영업이익 2022년 214.7억달러 → 2025년 82.9억달러</li> <li>2026년 2분기 매출 519.9억달러, 영업이익 73.2억달러</li> <li>TAM 관찰점: 제트연료·NGL·전력수요 연계 옵션</li> <li>Robinson 프로젝트, 제트연료 약 1만bpd 증산 가능</li> <li>5년 관찰점: 정제 피크보다 FCF 바닥 반복성</li> </ul> <h2 id="중장기-경쟁우위해자">중장기 경쟁우위(해자) </h2><ul> <li>규모 해자: 처리량 290만bpd의 대형 정제 네트워크</li> <li>입지 해자: 주요 지역별 스프레드 최적화 여지</li> <li>통합 해자: MPLX를 통한 천연가스·NGL 성장 전략</li> <li>운영 해자: 94% 가동률과 290만bpd 처리량 확인</li> <li>해자 확대: El Paso·Robinson·Garyville 수율 개선 투자</li> <li>해자 축소: 정제마진 평균회귀·RIN·전환 수요 둔화</li> </ul> <h2 id="지배구조이사회자본배치">지배구조·이사회·자본배치 </h2><ul> <li>CEO Maryann Mannen, 운영 최적화와 자본환원 병행 언급</li> <li>2026년 2분기 주주환원 28억달러</li> <li>잔여 자사주 승인 61억달러, 2026년 6월 말 기준</li> <li>MPC 단독 2026년 CapEx 15억달러 전망</li> <li>가치증대 65%, 유지보수 35%, 8-K 기준</li> <li>MPLX 분배, 2026～2027년 연 12.5% 성장 지원 전망</li> <li>자본배치 핵심: 프로젝트 IRR·자사주 가격·MPLX CapEx 균형</li> </ul> <h2 id="재무-경쟁력">재무 경쟁력 </h2><ul> <li>FCF 92억달러, 총현금 78억달러, yfinance 기준</li> <li>총부채 343억달러, D/E 133.3%, yfinance 기준</li> <li>ROE 42.1%, ROA 8.7%, 영업이익률 13.6%</li> <li>듀폰 관찰점: ROE 원천은 마진·회전율·레버리지 복합</li> <li>2026년 EPS 추정 30.62달러 → 58.85달러</li> <li>90일 전 대비 +92.2%, yfinance 기준</li> <li>리스크: ROE 프리미엄의 사이클 마진 의존 가능성</li> </ul> <table> <thead> <tr> <th>지표</th> <th style="text-align: right">MPC 현재</th> <th>해석</th> </tr> </thead> <tbody> <tr> <td>FCF</td> <td style="text-align: right">92억달러</td> <td>자사주 매입 재원</td> </tr> <tr> <td>총현금</td> <td style="text-align: right">78억달러</td> <td>다운사이클 완충</td> </tr> <tr> <td>총부채</td> <td style="text-align: right">343억달러</td> <td>레버리지 민감도</td> </tr> <tr> <td>ROE</td> <td style="text-align: right">42.1%</td> <td>피크 마진 반영 가능성</td> </tr> <tr> <td>영업이익률</td> <td style="text-align: right">13.6%</td> <td>정제마진 고원화 여부가 핵심</td> </tr> <tr> <td>순이익률</td> <td style="text-align: right">5.5%</td> <td>다운스트림 특유의 낮은 순마진 구조</td> </tr> <tr> <td>EPS 추정</td> <td style="text-align: right">90일 전</td> <td>현재</td> </tr> <tr> <td>&mdash;</td> <td style="text-align: right">&mdash;:</td> <td>&mdash;:</td> </tr> <tr> <td>2026년 0Q</td> <td style="text-align: right">10.13달러</td> <td>23.79달러</td> </tr> <tr> <td>2026년 +1Q</td> <td style="text-align: right">6.34달러</td> <td>16.74달러</td> </tr> <tr> <td>2026년 0Y</td> <td style="text-align: right">30.62달러</td> <td>58.85달러</td> </tr> <tr> <td>2027년 +1Y</td> <td style="text-align: right">23.58달러</td> <td>50.76달러</td> </tr> </tbody> </table> <h2 id="밸류에이션-프레임워크">밸류에이션 프레임워크 </h2><ul> <li>현재 멀티플: PER 16.0배, 선행 PER 9.0배</li> <li>PBR 6.9배, PSR 0.8배, yfinance 기준</li> <li>현재가 463.34달러 vs 평균 목표가 388.9달러</li> <li>목표가 범위 236～510달러, 커버리지 18명</li> <li>프리미엄 논거: FCF 환원력, MPLX 안정성, 수율개선</li> <li>디스카운트 논거: 피크 EPS, 마진 평균회귀, PBR 부담</li> <li>시총 1,301억달러, 피크 이익 지속성 요구 구간</li> </ul> <table> <thead> <tr> <th>기업</th> <th>비교 근거</th> <th>밸류에이션/수익성 관찰점</th> <th>출처</th> </tr> </thead> <tbody> <tr> <td>MPC</td> <td>미국 대형 정제·MPLX 통합</td> <td>PER 16.0배, 선행 PER 9.0배, PBR 6.9배</td> <td>yfinance</td> </tr> <tr> <td>Valero Energy</td> <td>순수 정제 peer</td> <td>Goldman Sachs Buy, 목표가 496달러 언급(출처 1곳)</td> <td>RESEARCH PACK</td> </tr> <tr> <td>Phillips 66</td> <td>다운스트림·미드스트림 peer</td> <td>Goldman Sachs Neutral, 목표가 297달러 언급(출처 1곳)</td> <td>RESEARCH PACK</td> </tr> <tr> <td>HF Sinclair</td> <td>중소형 정제 peer</td> <td>Goldman Sachs Buy, 목표가 142달러 언급(출처 1곳)</td> <td>RESEARCH PACK</td> </tr> <tr> <td>시나리오</td> <td>EPS 가정</td> <td>적정 PER</td> <td>주가 범위</td> </tr> <tr> <td>&mdash;</td> <td>&mdash;:</td> <td>&mdash;:</td> <td>&mdash;:</td> </tr> <tr> <td>Bear</td> <td>35달러 이하</td> <td>7～8배</td> <td>245～280달러</td> </tr> <tr> <td>Base</td> <td>50～55달러</td> <td>8～9배</td> <td>400～495달러</td> </tr> <tr> <td>Bull</td> <td>58달러 이상</td> <td>9～10배</td> <td>522～580달러</td> </tr> </tbody> </table> <h2 id="variant-perception">Variant Perception </h2><ul> <li>시장 기대: 2026년 EPS 58.85달러, 선행 PER 9.0배</li> <li>시장 의심: R&amp;M 마진 36.33달러/배럴의 피크성 할인</li> <li>我추정 Gap: 정상화 후 FCF 바닥과 주식수 감소 효과</li> <li>역DCF: 중기 FCF 70～90억달러, WACC 8～10%</li> <li>말기 성장률 0～1% 가정</li> <li>현재 시총 1,301억달러, FCF 90억달러 기준 수익률 6.9%</li> <li>인식 전환 촉매: MPLX 분배 성장, 잔여 61억달러 자사주</li> <li>반대 촉매: 크랙스프레드 급락, 크레딧 약화, 수출규제</li> </ul> <h2 id="시나리오-bullbasebear">시나리오 (Bull/Base/Bear) </h2><table> <thead> <tr> <th>시나리오</th> <th style="text-align: right">확률</th> <th style="text-align: right">예상수익</th> <th>핵심가설</th> <th>확인지표</th> </tr> </thead> <tbody> <tr> <td>Bull</td> <td style="text-align: right">30%</td> <td style="text-align: right">+20～30%</td> <td>정제마진 고원화, EPS 55달러 이상, 환원 지속</td> <td>R&amp;M EBITDA/배럴 20달러 이상</td> </tr> <tr> <td>Base</td> <td style="text-align: right">45%</td> <td style="text-align: right">-5～+10%</td> <td>마진 정상화, MPLX와 자사주 하방 방어</td> <td>선행 PER 8～10배 유지</td> </tr> <tr> <td>Bear</td> <td style="text-align: right">25%</td> <td style="text-align: right">-25～-35%</td> <td>피크 EPS 붕괴, 크랙스프레드 급락, PBR 압축</td> <td>EPS 35달러 이하 하향</td> </tr> </tbody> </table> <h2 id="반증약세-스틸맨-베어">반증·약세 (스틸맨 베어) </h2><ul> <li><strong>가장 강한 베어: 2분기 실적의 일회성 피크 가능성</strong></li> <li>베어 ①: 현재가가 평균 목표가를 약 19.1% 상회</li> <li>베어 ②: PBR 6.9배, 다운스트림 사이클주 부담</li> <li>베어 ③: 재생디젤·정책 크레딧·수출규제 변동성</li> <li>① 확인조건: R&amp;M EBITDA/배럴 15달러 이하 지속</li> <li>② 확인조건: 가동률 90% 하회와 처리량 감소 동반</li> <li>③ 확인조건: 수율개선 프로젝트 EBITDA 기여 미확인</li> <li>④ 확인조건: EPS 상향 중단과 목표가 하향 확산</li> </ul> <h2 id="비대칭실행">비대칭·실행 </h2><ul> <li>Upside: 정제마진 고원화와 자사주 EPS 증폭, 확률 30%</li> <li>Downside: 피크 마진 정상화와 멀티플 압축, 확률 25%</li> <li>보유기간: 12～18개월의 FCF 바닥 검증 구간</li> <li>재검증 트리거: 2026년 11월 3일 실적 발표</li> <li>재검증 트리거: 2026년 4분기 R&amp;M 마진·처리량·운영비</li> <li>재검증 트리거: 잔여 61억달러 자사주 승인 집행 속도</li> <li>재검증 트리거: 2027년 EPS 컨센서스 50.76달러 유지 여부</li> </ul> <h2 id="-pqc-투자-핵심-포인트">💡 P·Q·C 투자 핵심 포인트 </h2><ul> <li>P: R&amp;M 마진 36.33달러/배럴, 전년 17.58달러</li> <li>Q: 처리량 290만bpd·가동률 94%, 8-K 기준</li> <li>C: 운영비 5.72달러/배럴, 전년 5.34달러</li> <li>EPS: 2026년 58.85달러, 90일 전 대비 +92.2%</li> </ul> <h2 id="참고자료-차트지표">참고자료 (차트·지표) </h2><h3 id="가격기술-차트">가격·기술 차트 </h3><p><img alt="Marathon Petroleum 가격·기술 대시보드 — 캔들·이동평균(20/60/120)·52주 고저·거래량·S&P 500 대비 상대강도·RSI(14)" class="gallery-image" data-flex-basis="378px" data-flex-grow="157" height="1520" loading="lazy" sizes="(max-width: 767px) calc(100vw - 30px), (max-width: 1023px) 700px, (max-width: 1279px) 950px, 1232px" src="https://investus.pages.dev/posts/marathon-petroleum-%ED%94%BC%ED%81%AC-%EC%A0%95%EC%A0%9C%EB%A7%88%EC%A7%84%EC%9D%B4-%EC%95%84%EB%8B%88%EB%9D%BC-fcf-%EB%B0%94%EB%8B%A5-%EC%83%81%ED%96%A5%EC%9D%98-%EC%9E%AC%ED%8F%89%EA%B0%80-mpc-20261009/chart_price.png" srcset="https://investus.pages.dev/posts/marathon-petroleum-%ED%94%BC%ED%81%AC-%EC%A0%95%EC%A0%9C%EB%A7%88%EC%A7%84%EC%9D%B4-%EC%95%84%EB%8B%88%EB%9D%BC-fcf-%EB%B0%94%EB%8B%A5-%EC%83%81%ED%96%A5%EC%9D%98-%EC%9E%AC%ED%8F%89%EA%B0%80-mpc-20261009/chart_price_hu_74608ff4efbfdf6d.png 800w, https://investus.pages.dev/posts/marathon-petroleum-%ED%94%BC%ED%81%AC-%EC%A0%95%EC%A0%9C%EB%A7%88%EC%A7%84%EC%9D%B4-%EC%95%84%EB%8B%88%EB%9D%BC-fcf-%EB%B0%94%EB%8B%A5-%EC%83%81%ED%96%A5%EC%9D%98-%EC%9E%AC%ED%8F%89%EA%B0%80-mpc-20261009/chart_price_hu_cc9ec266c8da36b7.png 1600w, https://investus.pages.dev/posts/marathon-petroleum-%ED%94%BC%ED%81%AC-%EC%A0%95%EC%A0%9C%EB%A7%88%EC%A7%84%EC%9D%B4-%EC%95%84%EB%8B%88%EB%9D%BC-fcf-%EB%B0%94%EB%8B%A5-%EC%83%81%ED%96%A5%EC%9D%98-%EC%9E%AC%ED%8F%89%EA%B0%80-mpc-20261009/chart_price.png 2400w" width="2400"></p> <p><small>Marathon Petroleum 가격·기술 대시보드 — 캔들·이동평균(20/60/120)·52주 고저·거래량·S&amp;P 500 대비 상대강도·RSI(14)</small></p> <h3 id="핵심-지표">핵심 지표 </h3><p><img alt="Marathon Petroleum 핵심 지표 — 기간 수익률·52주 위치·위험(변동성·최대낙폭·베타)·밸류에이션·컨센서스" class="gallery-image" data-flex-basis="400px" data-flex-grow="166" height="1440" loading="lazy" sizes="(max-width: 767px) calc(100vw - 30px), (max-width: 1023px) 700px, (max-width: 1279px) 950px, 1232px" src="https://investus.pages.dev/posts/marathon-petroleum-%ED%94%BC%ED%81%AC-%EC%A0%95%EC%A0%9C%EB%A7%88%EC%A7%84%EC%9D%B4-%EC%95%84%EB%8B%88%EB%9D%BC-fcf-%EB%B0%94%EB%8B%A5-%EC%83%81%ED%96%A5%EC%9D%98-%EC%9E%AC%ED%8F%89%EA%B0%80-mpc-20261009/chart_metrics.png" srcset="https://investus.pages.dev/posts/marathon-petroleum-%ED%94%BC%ED%81%AC-%EC%A0%95%EC%A0%9C%EB%A7%88%EC%A7%84%EC%9D%B4-%EC%95%84%EB%8B%88%EB%9D%BC-fcf-%EB%B0%94%EB%8B%A5-%EC%83%81%ED%96%A5%EC%9D%98-%EC%9E%AC%ED%8F%89%EA%B0%80-mpc-20261009/chart_metrics_hu_7f4d512e9cfe4a47.png 800w, https://investus.pages.dev/posts/marathon-petroleum-%ED%94%BC%ED%81%AC-%EC%A0%95%EC%A0%9C%EB%A7%88%EC%A7%84%EC%9D%B4-%EC%95%84%EB%8B%88%EB%9D%BC-fcf-%EB%B0%94%EB%8B%A5-%EC%83%81%ED%96%A5%EC%9D%98-%EC%9E%AC%ED%8F%89%EA%B0%80-mpc-20261009/chart_metrics_hu_af5526d15e831042.png 1600w, https://investus.pages.dev/posts/marathon-petroleum-%ED%94%BC%ED%81%AC-%EC%A0%95%EC%A0%9C%EB%A7%88%EC%A7%84%EC%9D%B4-%EC%95%84%EB%8B%88%EB%9D%BC-fcf-%EB%B0%94%EB%8B%A5-%EC%83%81%ED%96%A5%EC%9D%98-%EC%9E%AC%ED%8F%89%EA%B0%80-mpc-20261009/chart_metrics.png 2400w" width="2400"></p> <p><small>Marathon Petroleum 핵심 지표 — 기간 수익률·52주 위치·위험(변동성·최대낙폭·베타)·밸류에이션·컨센서스</small></p> <h2 id="references">References </h2><p><small>본문 수치·주장은 아래 출처를 교차확인했습니다.</small></p> <ol> <li><a class="link" href="https://www.sec.gov/Archives/edgar/data/1510295/000151029526000060/mpcq22026earningsrelease.htm" target="_blank" rel="noopener" >https://www.sec.gov/Archives/edgar/data/1510295/000151029526000060/mpcq22026earningsrelease.htm</a></li> <li>2026-08-04 10-Q 10-Q — <a class="link" href="https://www.sec.gov/Archives/edgar/data/1510295/000151029526000061/mpc-20260630.htm" target="_blank" rel="noopener" >https://www.sec.gov/Archives/edgar/data/1510295/000151029526000061/mpc-20260630.htm</a></li> <li>2026-08-04 8-K 8-K Item 2.02,9.01 — <a class="link" href="https://www.sec.gov/Archives/edgar/data/1510295/000151029526000060/mpc-20260804.htm" target="_blank" rel="noopener" >https://www.sec.gov/Archives/edgar/data/1510295/000151029526000060/mpc-20260804.htm</a></li> <li>2026-06-29 8-K 8-K Item 8.01 — <a class="link" href="https://www.sec.gov/Archives/edgar/data/1510295/000151029526000055/mpc-20260626.htm" target="_blank" rel="noopener" >https://www.sec.gov/Archives/edgar/data/1510295/000151029526000055/mpc-20260626.htm</a></li> <li>2026-05-05 10-Q 10-Q — <a class="link" href="https://www.sec.gov/Archives/edgar/data/1510295/000151029526000042/mpc-20260331.htm" target="_blank" rel="noopener" >https://www.sec.gov/Archives/edgar/data/1510295/000151029526000042/mpc-20260331.htm</a></li> <li>2026-05-05 8-K 8-K Item 2.02,9.01 — <a class="link" href="https://www.sec.gov/Archives/edgar/data/1510295/000151029526000039/mpc-20260505.htm" target="_blank" rel="noopener" >https://www.sec.gov/Archives/edgar/data/1510295/000151029526000039/mpc-20260505.htm</a></li> <li>2026-05-01 8-K 8-K Item 5.07 — <a class="link" href="https://www.sec.gov/Archives/edgar/data/1510295/000151029526000033/mpc-20260429.htm" target="_blank" rel="noopener" >https://www.sec.gov/Archives/edgar/data/1510295/000151029526000033/mpc-20260429.htm</a></li> <li>2026-04-13 8-K 8-K Item 1.01,1.02,2.02,2.03,9.01 — <a class="link" href="https://www.sec.gov/Archives/edgar/data/1510295/000151029526000029/mpc-20260407.htm" target="_blank" rel="noopener" >https://www.sec.gov/Archives/edgar/data/1510295/000151029526000029/mpc-20260407.htm</a></li> <li>2026-03-16 DEF 14A DEF 14A — <a class="link" href="https://www.sec.gov/Archives/edgar/data/1510295/000151029526000023/mpc-20260316.htm" target="_blank" rel="noopener" >https://www.sec.gov/Archives/edgar/data/1510295/000151029526000023/mpc-20260316.htm</a></li> <li>2026-02-26 10-K 10-K — <a class="link" href="https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm" target="_blank" rel="noopener" >https://www.sec.gov/Archives/edgar/data/1510295/000151029526000009/mpc-20251231.htm</a></li> <li>2026-02-03 8-K 8-K Item 2.02,9.01 — <a class="link" href="https://www.sec.gov/Archives/edgar/data/1510295/000151029526000003/mpc-20260203.htm" target="_blank" rel="noopener" >https://www.sec.gov/Archives/edgar/data/1510295/000151029526000003/mpc-20260203.htm</a></li> <li>2026-10-05 Yahoo Finance 「Here&rsquo;s How Much a $1000 Investment in Marathon Petroleum Made 10 — <a class="link" href="https://finance.yahoo.com" target="_blank" rel="noopener" >https://finance.yahoo.com</a></li> <li>2026-10-05 Yahoo Finance 「Here&rsquo;s How Much a $1000 Investment in Marathon Petroleum Made 10 — <a class="link" href="https://news.google.com/rss/articles/CBMiogFBVV95cUxNRWg4SmFLMjRfUlI1TXNSbWF2cFgxc0pCbVZYRU5fbERpYS1veEFvaE1qTzEtYnFoRWo2eVFrN2tzelVGdFdTdWoyYkNxTjlGdFhfT1d6YmlLazN5YjYxdjFzTk5Pb1NWMlVSODZ1R3VNSGFDZEhWUnI3VWNkbUlsOU9iVmlYVFN3YjZTUnB6aWV3R2lCUnAtdnktZnFxT0p3Snc?oc=5" target="_blank" rel="noopener" >https://news.google.com/rss/articles/CBMiogFBVV95cUxNRWg4SmFLMjRfUlI1TXNSbWF2cFgxc0pCbVZYRU5fbERpYS1veEFvaE1qTzEtYnFoRWo2eVFrN2tzelVGdFdTdWoyYkNxTjlGdFhfT1d6YmlLazN5YjYxdjFzTk5Pb1NWMlVSODZ1R3VNSGFDZEhWUnI3VWNkbUlsOU9iVmlYVFN3YjZTUnB6aWV3R2lCUnAtdnktZnFxT0p3Snc?oc=5</a></li> <li>2026-10-02 Simply Wall Street 「Marathon Petroleum (NYSE:MPC) Stock Forecast &amp; Analyst Pred — <a class="link" href="https://simplywall.st" target="_blank" rel="noopener" >https://simplywall.st</a></li> <li>2026-10-02 Simply Wall Street 「Marathon Petroleum (NYSE:MPC) Stock Forecast &amp; Analyst Pred — <a class="link" href="https://news.google.com/rss/articles/CBMifkFVX3lxTE1aa1VyS29neFgxX1YzUmV2ZHotNWI1X2ZDYzdyUnN5d1BQUXlmRmg4bVBLNjRGVWcxUGUyQVRMWEZkSE1ES29BUnZOZnhQV0NpUEhuQjFvNnVlNVE0eGRkeU5ZSXJtN004UGtFZE0zUW9rZE9jR1RHSWRnbnVFQQ?oc=5" target="_blank" rel="noopener" >https://news.google.com/rss/articles/CBMifkFVX3lxTE1aa1VyS29neFgxX1YzUmV2ZHotNWI1X2ZDYzdyUnN5d1BQUXlmRmg4bVBLNjRGVWcxUGUyQVRMWEZkSE1ES29BUnZOZnhQV0NpUEhuQjFvNnVlNVE0eGRkeU5ZSXJtN004UGtFZE0zUW9rZE9jR1RHSWRnbnVFQQ?oc=5</a></li> <li>2026-10-02 StockInvest.us 「Marathon Stock Price Forecast. Should You Buy MPC?」 (발행처 — <a class="link" href="https://stockinvest.us" target="_blank" rel="noopener" >https://stockinvest.us</a></li> <li>2026-10-02 StockInvest.us 「Marathon Stock Price Forecast. 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