J P M O R G A N North America Equity Research 13 July 2026 See page 8 for analyst certification and important disclosures. Neutral MPC, MPC US Price (10 Jul 26):$283.74 ▲Price Target (Dec-26):$300.00 Prior (Dec-26):$257.00 Oil & Gas Exploration & Production Arun Jayaram AC (1-212) 622-8541 Marathon Petroleum 2Q26 Earnings Preview JPM View. We forecast a strong 2Q EPS beat for MPC, with our $15.55 per share estimate well above the STe at $13.49. In Refining, we estimate pre-tax earnings of $5,446 MM, which c ...