By TradingView
Publication Date: 2026-10-20 01:20:00
Energy stocks have rallied sharply in 2026 since the U.S.-Iran war began in February, which led to a sharp uptick in oil prices.
Marathon Petroleum Corp. (MPC) has had a particularly strong run this year, surging past even top technology and chip companies.
The refiner’s stock has surged more than 200% since the start of the year, outperforming Nvidia Corp. (NVDA), Intel Corp. (INTC), Advanced Micro Devices Inc. (AMD), Qualcomm Inc. (QCOM), and Broadcom Inc. (AVGO). Micron, however, has outpaced all of them with a 217% surge.
MPC’s Quarterly Performance Has Bolstered The Stock Higher
Surging oil prices have undoubtedly contributed to the energy company’s strong performance, driving higher crack spreads across all regions and increasing rates and throughput in its Midstream business.
The company’s strong earnings have provided an additional lift. In its second-quarter (Q2) print, MPC posted revenues of $52.33 billion, up more than 53% and well above analyst expectations of $41.44 billion.
Earnings per share came in at $17.73 for the second quarter of 2026, up from $3.96 per share in the second quarter of 2025.
The company also posted a significant increase in its refining and marketing margins, which came in at $36.33 per barrel for Q2, versus $17.58 per barrel in the previous comparable quarter.
MPC also completed two high-return, yield-enhancing refining investments in the quarter: El Paso refinery in Texas and Robinson refinery in Illinois.
The company said…
