Jefferies Rates Marathon Petroleum (MPC) Hold, $413 Price Target

Jefferies has adjusted its rating on Marathon Petroleum Corporation, now set at a target price of $413, a 12.87% downside from the current price.

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

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Jefferies rated Marathon Petroleum Corporation ($MPC) "Hold" with a $413 price target on September 22, 2026.

Since the rating, $MPC is up 0.6% after 1 week and up 22.7% to date (from the $389.68 close on Sep 22, 2026).

MPC Marathon Petroleum Corporation

$478.07 +192.86% year to date

Daily close · Oct 16, 2026

Key Points

Jefferies has lowered its rating on Marathon Petroleum Corporation (NYSE: MPC) to Hold, setting a target price of $413. This change reflects a shift in the firm's outlook on the company.
Jefferies's $413 price target implies 12.87% downside from Marathon Petroleum Corporation's ($MPC) current $474.01 share price.
The stock closed at $424.89 on September 22, 2026, prior to the downgrade, and has seen a recent high of $431.08 over the last 52 weeks.
Eighteen analysts currently cover Marathon Petroleum, with a consensus recommendation of Buy and a mean target price of $375.50.

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Jefferies Lowers Rating on Marathon Petroleum

On September 22, 2026, Jefferies downgraded its rating on Marathon Petroleum Corporation (NYSE: MPC) to Hold, setting a target price of $413. This adjustment comes as the firm reassesses its view on the energy giant, which operates in the oil and gas refining and marketing sector.

The downgrade marks a notable change in Jefferies' stance. Previously, there was no target price set by the firm. This reflects a shift in how Jefferies perceives the company's potential moving forward.

Analyst rating track record

Jefferies vs. the S&P 500

YTD return -7.37% hypothetical

All-time return -7.37% S&P 500 +2.45%

vs. S&P 500 -9.82% behind the index

Hypothetical returns from Jefferies's disclosed trades, not real profit or advice. How we model this.

Institutional Insights

While no other funds have made recent moves on Marathon Petroleum, the current analyst landscape remains active. Wells Fargo maintains an Overweight rating with a target of $560, while Citigroup holds a Neutral rating with a target of $518. Barclays also keeps an Overweight rating with a target of $488. These varying opinions indicate a diverse outlook on the company's future performance among analysts.

How Marathon Petroleum Corporation Stock Has Traded

The stock closed at $424.89 on the same day Jefferies announced its downgrade. Marathon Petroleum has seen a 52-week high of $431.08, suggesting it has been trading near its peak. The current price action may influence investor sentiment in light of the new rating.

12-month forecast

$MPC price target

Marathon Petroleum Corporation daily closes and this analyst's $413 target. Not advice.

Analysts Set New Price Targets

On September 21, 2026, Goldman Sachs maintained a Buy rating for Marathon Petroleum with a target of $472. This was just one day before Jefferies' downgrade. Other analysts like Mizuho and B of A Securities also maintain Neutral ratings with targets of $457 and $426, respectively. This consensus suggests a mix of cautious optimism and skepticism regarding the company's near-term performance.

What Marathon Petroleum Corporation Does

Marathon Petroleum Corporation is an integrated downstream energy company based in Findlay, Ohio. It refines crude oil and markets various petroleum products, operating in three segments: Refining & Marketing, Midstream, and Renewable Diesel. The recent rating change from Jefferies may signal shifts in investor confidence as the energy sector continues to evolve.

What's Ahead for Marathon Petroleum Corporation

Investors will be watching for Marathon Petroleum's next earnings report, scheduled for November 3, 2026. It's important to note that the downgrade from Jefferies reflects past performance and may not represent the company's current standing or future potential. As always, these analyst ratings are based on historical data and may not predict future movements in the stock price.