Barclays Raises Marathon Petroleum (MPC) Price Target to $488

Barclays has reaffirmed its Overweight rating on Marathon Petroleum with a new price target of $488.00 on October 12, 2026, a 2.95% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:00 PM EDT

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Barclays raised its price target on Marathon Petroleum Corporation ($MPC) to $488 from $321 on October 12, 2026, and rates the stock "Overweight".

Since the rating, $MPC is up 4.2% to date (from the $458.81 close on Oct 12, 2026).

MPC Marathon Petroleum Corporation

$478.07 +192.86% year to date

Daily close · Oct 16, 2026

Key Points

On October 12, 2026, Barclays reiterated its Overweight rating on Marathon Petroleum Corporation with a price target of $488.00, up from $321.00.
Barclays's $488 price target implies 2.95% upside from Marathon Petroleum Corporation's ($MPC) current $474.01 share price.
Marathon Petroleum's stock recently traded around $474.01, which is about 2.9% below the new price target.
The company's next earnings report is set for November 3, 2026, after reporting a trailing twelve-month revenue of $154.1 billion.

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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Marathon Petroleum Corporation alert may contain errors. Disclosures

Barclays has reiterated its Overweight rating on Marathon Petroleum Corporation (NYSE: MPC) with a new price target of $488.00 on October 12, 2026. This target is an increase from the previous target of $321.00.

The stock recently traded around $474.01, placing it about 2.9% below Barclays' new price target. This move comes as part of a broader context where other analysts have also been active regarding Marathon Petroleum's stock.

Other Institutional Activity in Marathon Petroleum

Several other institutional investors have recently adjusted their stakes in Marathon Petroleum. Blackrock Inc. grew its holdings by 1,610,129 shares, ending with 26,006,017 shares worth about $12.4 billion. Geode Capital Management, LLC added 529,525 shares, bringing its total to 8,351,157 shares valued at approximately $3.99 billion. However, Vanguard Capital Management LLC reduced its position by 95,851 shares, now holding 19,074,289 shares worth about $9.12 billion.

Marathon Petroleum Corporation Stock Up 11.6%

Marathon Petroleum's shares are currently trading near $474.01, which is close to its recent price levels. The stock's performance is noteworthy as it trades below the newly set price target by Barclays, indicating potential upside for investors.

12-month forecast

$MPC price target

Marathon Petroleum Corporation daily closes and this analyst's $488 target. Not advice.

Recent Earnings

Marathon Petroleum reported trailing twelve-month revenue of $154.1 billion and an EPS of $28.85. The company has a net margin of 5.5% and a return on equity of 42.1%. The next earnings report is scheduled for November 3, 2026.

Insider Buying and Selling at Marathon Petroleum Corporation

Recent insider activity shows several officers selling shares. On August 13, 2026, Officer Shawn M. Lyon sold 2,500 shares for $875,000. Officer Molly R. Benson sold 17,196 shares on August 17, 2026, totaling about $6.17 million. Additionally, Erin M. Brzezinski sold 570 shares on August 27, 2026, valued at $206,790.

Analysts Set New Price Targets

On October 12, 2026, Barclays maintained its Overweight rating on Marathon Petroleum with a price target of $488.00. Earlier, Jefferies downgraded the stock to Hold with a target of $413.00 on September 22, 2026. B of A Securities maintained a Neutral rating with a target of $426.00, up from $410.00, while Mizuho also kept a Neutral rating with a target of $457.00, increasing from $304.00.

About Marathon Petroleum

Marathon Petroleum Corporation operates as an integrated downstream energy company in the United States. It has three main segments: Refining & Marketing, Midstream, and Renewable Diesel. This diverse structure allows it to play a significant role in the energy sector.

Bottom Line

Investors should keep an eye on Marathon Petroleum's upcoming earnings report on November 3, 2026, and any further updates from analysts. Barclays' reiteration of its Overweight rating suggests confidence in the company's future performance.