Marathon Petroleum Stock (NYSE:MPC), Trade Ideas

Marathon Petroleum

Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 3.0 million barrels per day. Its Dickinson, North Dakota, facility produces 184 million gallons a year of renewable diesel. Its Martinez, California, facility will have the ability to produce 730 million gallons a year of renewable diesel once converted. The firm also owns and operates midstream assets primarily through its listed master limited partnership, MPLX.

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Sharp increase in oil prices has led to outperformance of energy stocks, with WTI rising 20% this year. EIA forecasts $90/bbl in Q2 2024 and $3.60/gal in retail gasoline prices by 2024. 3 energy firms in top 10 S&amp;P 500 performers YTD and many more set to report earnings in April 2024.

3 Energy Stocks Stand Among S&amp;P 500&#39;s Top 10 Performers In 2024 As Oil Prices Reach $90

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First quarter of 2024 saw a surge in oil prices due to tightening supply/demand and geopolitical concerns. Benchmarks rose to five-month highs.

Crude Oil Climbs To 5-Month High In Q1, Analysts Expect High Prices To Persist In Q2

Marathon Petroleum Corporation Common Stock

Marathon Petroleum Corp

MOUNTAIN PACIFIC BANCORP by Mountain Pacific Bancorp Inc.

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METRO PACIFIC INVST CORP by Metro Pacific Investments Corp.

MAPLETREE PANASIA REIT by MAPLETREE PANASIA COML TR

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MPC CONTAINER SHIPS AS by MPC Container Ships AS

MPC Container Ships ASA

<p>Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) has outperformed the market over the past 10 years by 5.87% on an annualized basis producing an average annual return of 16.25%. Currently, Marathon Petroleum has a market capitalization of $73.41 billion. </p>
<p><strong>Buying $1000 In MPC:</strong> If an investor had bought $1000 of MPC stock 10 years ago, it would be worth <strong>$4,520.52</strong> today based on a price of $203.74 for MPC at the time of writing.</p>
<h3>Marathon Petroleum's Performance Over Last 10 Years</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713292231_0.png" alt="comp_fig" /></p>
<p>Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.</p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Trading Ideas

Here's How Much $1000 Invested In Marathon Petroleum 10 Years Ago Would Be Worth Today

<p>Deep-pocketed investors have adopted a bearish approach towards Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MPC usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Marathon Petroleum. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 46% leaning bullish and 53% bearish. Among these notable options, 5 are puts, totaling $208,765, and 10 are calls, amounting to $643,727.</p>
<h3>Expected Price Movements</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $130.0 to $230.0 for Marathon Petroleum during the past quarter. </p>
<h3>Volume &amp; Open Interest Development</h3>
<p>Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.</p>
<p>This data can help you track the liquidity and interest for Marathon Petroleum's options for a given strike price.</p>
<p>Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Marathon Petroleum's whale activity within a strike price range from $130.0 to $230.0 in the last 30 days. </p>
<h3>Marathon Petroleum 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713204971_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>MPC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$30.65</td>
<td>$30.5</td>
<td>$30.65</td>
<td>$190.00</td>
<td>$260.5K</td>
<td>1.0K</td>
<td style="text-align: right;">86</td>
</tr>
<tr>
<td>MPC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$79.4</td>
<td>$78.5</td>
<td>$78.8</td>
<td>$130.00</td>
<td>$78.8K</td>
<td>63</td>
<td style="text-align: right;">10</td>
</tr>
<tr>
<td>MPC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$11.55</td>
<td>$11.5</td>
<td>$11.55</td>
<td>$210.00</td>
<td>$64.6K</td>
<td>510</td>
<td style="text-align: right;">85</td>
</tr>
<tr>
<td>MPC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$28.55</td>
<td>$26.4</td>
<td>$27.92</td>
<td>$180.00</td>
<td>$55.8K</td>
<td>43</td>
<td style="text-align: right;">62</td>
</tr>
<tr>
<td>MPC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$54.55</td>
<td>$54.05</td>
<td>$54.2</td>
<td>$160.00</td>
<td>$54.2K</td>
<td>4</td>
<td style="text-align: right;">10</td>
</tr>
</tbody>
</table>
</p>
<h3>About Marathon Petroleum</h3>
<p>Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 3.0 million barrels per day. Its Dickinson, North Dakota, facility produces 184 million gallons a year of renewable diesel. Its Martinez, California, facility will have the ability to produce 730 million gallons a year of renewable diesel once converted. The firm also owns and operates midstream assets primarily through its listed master limited partnership, MPLX.</p>
<p>Having examined the options trading patterns of Marathon Petroleum, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance</p>
<h3>Present Market Standing of Marathon Petroleum</h3>
<ul>
<li>With a trading volume of 1,158,361, the price of MPC is down by -0.56%, reaching $207.59.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 15 days from now.</li>
</ul>
<h3>What The Experts Say On Marathon Petroleum</h3>
<p>5 market experts have recently issued ratings for this stock, with a consensus target price of $205.4.</p>
<ul>
<li>Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Marathon Petroleum with a target price of $214. </li>
<li>Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Marathon Petroleum, targeting a price of $186. </li>
<li>Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Marathon Petroleum, targeting a price of $221. </li>
<li>Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Marathon Petroleum, targeting a price of $202. </li>
<li>Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Marathon Petroleum with a target price of $204. </li>
</ul>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Marathon Petroleum with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Options

Marathon Petroleum Unusual Options Activity

<p>Mizuho  analyst Nitin Kumar   maintains Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) with a Neutral and raises the price target from $201 to $202.</p>


Price Target

Analyst Ratings

Mizuho Maintains Neutral on Marathon Petroleum, Raises Price Target to $202

<p>Scotiabank  analyst Paul Cheng   maintains Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) with a Sector Outperform and raises the price target from $175 to $207.</p>


Scotiabank Maintains Sector Outperform on Marathon Petroleum, Raises Price Target to $207

<p>Three energy stocks are among the top 10 performers within the S&amp;P 500 since the beginning of the year, representing a significant paradigm shift compared to the underperformance of the <a href="https://www.benzinga.com/money/best-energy-stocks">energy sector throughout 2023.</a></p>
<p>A significant factor contributing to the outperformance of energy stocks since the year&#8217;s onset has been the sharp increase in oil prices.</p>
<p>The West Texas Intermediate (WTI) light crude, tracked by the <strong>United States Oil Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), has risen by 20% year to date. This surge can be attributed to a combination of factors including growing demand, limited OPEC+ supply, and escalating tensions in the Middle East, particularly between Israel and Iran.</p>
<p>According to the latest forecast from the U.S. Energy Information Administration (EIA), the Brent crude oil spot price is expected to average $90 per barrel in the second quarter of 2024, which is $2 higher than previous estimates. </p>
<p>The forecast for the average price in 2024 is $89 per barrel. This uptick reflects the EIA&#8217;s anticipation of substantial global oil inventory declines during this quarter and ongoing geopolitical uncertainties.</p>
<p>Additionally, the retail gasoline price is projected to average $3.60 per gallon in 2024, up from the previous estimate of $3.50 per gallon.</p>
<p>As of April 9, 2024, the&nbsp;<strong>EnergySelect Sector SPDR Fund</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) is up 16% year-to-date, outperforming all other S&amp;P 500 sectors.</p>
<h1 class="wp-block-heading"><strong>3 Energy Firms Among Top 10 S&amp;P 500 Performers Year to Date</strong></h1>
<p><figure class="wp-block-table is-style-stripes"><br />
<table>
<tbody>
<tr>
<td><strong>Name</strong></td>
<td><strong>Price Chg. % (YTD)</strong></td>
<td><strong>Sector</strong></td>
</tr>
<tr>
<td><strong>Super Micro Computer, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</td>
<td>215.81%</td>
<td>Information Tech</td>
</tr>
<tr>
<td><strong>NVIDIA Corporation</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>70.28%</td>
<td>Information Tech</td>
</tr>
<tr>
<td><strong>Constellation Energy Corporation</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>59.83%</td>
<td>Utilities</td>
</tr>
<tr>
<td><strong>Meta Platforms, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>44.88%</td>
<td>Communication Services</td>
</tr>
<tr>
<td><strong>Marathon Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>)</td>
<td>42.65%</td>
<td>Energy</td>
</tr>
<tr>
<td><strong>Micron Technology, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>)</td>
<td>42.55%</td>
<td>Information Tech</td>
</tr>
<tr>
<td><strong>NRG Energy, Inc. </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</td>
<td>39.77%</td>
<td>Utilities</td>
</tr>
<tr>
<td><strong>Western Digital Corporation</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</td>
<td>38.09%</td>
<td>Information Tech</td>
</tr>
<tr>
<td><strong>Valero Energy Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>)</td>
<td>36.10%</td>
<td>Energy</td>
</tr>
<tr>
<td><strong>Diamondback Energy, Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>)</td>
<td>32.23%</td>
<td>Energy</td>
</tr>
</tbody>
</table>
<p></p></figure></p>
<h1 class="wp-block-heading"><strong>U.S. Energy Companies Report Their Earnings In April 2024</strong></h1>
<p>Below is a list of large-cap U.S. energy stocks set to report their first quarter 2024 earnings by the end of April: </p>
<ul>
<li>Friday, Apr. 12, 2024: <strong>Kinder Morgan</strong> <strong>Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>)<br /></li>
<li>Friday, Apr. 19, 2024: <strong>Schlumberger</strong> <strong>N.V.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>), <strong>Woodside Energy Group ADR </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>)<br /></li>
<li>Tuesday, Apr. 23, 2024: <strong>Halliburton</strong> <strong>Company</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>)<br /></li>
<li>Wednesday, Apr. 24, 2024: <strong>Cenovus Energy Inc</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>), <strong>EQT Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>)<br /></li>
<li>Thursday, Apr. 25, 2024: <strong>Valero Energy,</strong> <strong>Hess Corp. </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>)<br /></li>
<li>Friday, Apr. 26, 2024: <strong>Exxon Mobil Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), <strong>Chevron Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), <strong>Phillips 66</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), <strong>Imperial Oil Ltd</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMO#NYSE">IMO</a>). <br /></li>
<li>Tuesday, Apr. 30, 2024: <strong>Marathon Petroleum, ONEOK Inc</strong>. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), <strong>MPLX LP</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLX#NYSE">MPLX</a>), Diamondback, <strong>Cameco Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>)</li>
</ul>
<p><em>Read Now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38164785/bank-of-america-sees-gold-at-3-000-warns-of-a-copper-supply-crisis-metals-dance-to-">Bank Of America Sees Gold At $3,000, Warns Of A Copper Supply Crisis: Metals &#8216;Dance To Their Own Tune&#8217;</a></em></p>
<p><em>Photo: Shutterstock</em></p>


3 Energy Stocks Stand Among S&P 500's Top 10 Performers In 2024 As Oil Prices Reach $90

<p>Financial giants have made a conspicuous bearish move on Marathon Petroleum. Our analysis of options history for Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) revealed 8 unusual trades.</p>
<p>Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $299,420, and 2 were calls, valued at $61,363.</p>
<h3>Expected Price Movements</h3>
<p>After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $200.0 and $280.0 for Marathon Petroleum, spanning the last three months.</p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>In today's trading context, the average open interest for options of Marathon Petroleum stands at 181.75, with a total volume reaching 453.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Marathon Petroleum, situated within the strike price corridor from $200.0 to $280.0, throughout the last 30 days.</p>
<h3>Marathon Petroleum Option Activity Analysis: Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1712684737_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th style="text-align: right;"><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>MPC</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$14.8</td>
<td>$14.45</td>
<td>$14.6</td>
<td>$220.00</td>
<td>$81.7K</td>
<td style="text-align: right;">285</td>
<td style="text-align: right;">5</td>
</tr>
<tr>
<td>MPC</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$15.75</td>
<td>$15.45</td>
<td>$15.6</td>
<td>$210.00</td>
<td>$62.4K</td>
<td style="text-align: right;">94</td>
<td style="text-align: right;">40</td>
</tr>
<tr>
<td>MPC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$25.35</td>
<td>$25.0</td>
<td>$25.0</td>
<td>$220.00</td>
<td>$50.0K</td>
<td style="text-align: right;">279</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>MPC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$31.2</td>
<td>$31.0</td>
<td>$31.0</td>
<td>$230.00</td>
<td>$40.3K</td>
<td style="text-align: right;">46</td>
<td style="text-align: right;">14</td>
</tr>
<tr>
<td>MPC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$11.55</td>
<td>$11.5</td>
<td>$11.55</td>
<td>$210.00</td>
<td>$36.9K</td>
<td style="text-align: right;">40</td>
<td style="text-align: right;">35</td>
</tr>
</tbody>
</table>
</p>
<h3>About Marathon Petroleum</h3>
<p>Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 3.0 million barrels per day. Its Dickinson, North Dakota, facility produces 184 million gallons a year of renewable diesel. Its Martinez, California, facility will have the ability to produce 730 million gallons a year of renewable diesel once converted. The firm also owns and operates midstream assets primarily through its listed master limited partnership, MPLX.</p>
<p>Following our analysis of the options activities associated with Marathon Petroleum, we pivot to a closer look at the company's own performance.</p>
<h3>Current Position of Marathon Petroleum</h3>
<ul>
<li>Currently trading with a volume of 1,557,644, the MPC's price is down by -0.04%, now at $216.9. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 21 days.</li>
</ul>
<h3>Expert Opinions on Marathon Petroleum</h3>
<p>5 market experts have recently issued ratings for this stock, with a consensus target price of $203.2.</p>
<ul>
<li>An analyst from Mizuho persists with their Neutral rating on Marathon Petroleum, maintaining a target price of $201. </li>
<li>An analyst from Wells Fargo has decided to maintain their Overweight rating on Marathon Petroleum, which currently sits at a price target of $214. </li>
<li>Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Marathon Petroleum, targeting a price of $211. </li>
<li>Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Marathon Petroleum, targeting a price of $186. </li>
<li>An analyst from Piper Sandler persists with their Neutral rating on Marathon Petroleum, maintaining a target price of $204. </li>
</ul>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Marathon Petroleum with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Smart Money Is Betting Big In MPC Options

WIIM

Marathon Petroleum shares are trading lower amid a drop in oil prices.

<p>Gold closes out another week at all-time highs above $2,300 per ounce. Demand remains high after a March jobs report came in <a href="https://www.benzinga.com/etfs/specialty-etfs/24/04/38108835/us-labor-market-heats-up-in-march-payrolls-grow-by-303-000-highest-in-10-months-dampen-rate-c">hotter than predicted</a>.</p>
<p>The bullion exhibited an impressive resilience this week, diverging from its typical sensitivity to interest rate concerns. </p>
<p>Gold marked its sixth week of gains in the past seven, rallying by 4% despite warnings from multiple Fed speakers that rate cuts might not materialize as swiftly as anticipated by the market.</p>
<p>Gold also showcased a notable 1.5% gain for the session, underscoring its impressive strength and resilience despite traditional macro headwinds for precious metals.</p>
<p>As the price of gold surges to unprecedented heights, mining stocks are experiencing a bullish wave not witnessed in quite some time.</p>
<p>The <strong>VanEck Gold Miners ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) has notched eight positive sessions out of the past nine, surging to peaks last seen in May 2023. </p>
<p><strong>Newmont Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) — the world&#8217;s biggest gold miner and the GDX&#8217;s heavyweight — has surged over 10% this week, showcasing the most robust performance among S&amp;P 500 stocks and its best week in 13 months. </p>
<p><em>Chart: Newmont Notches Top-Performing Week Since March 2023</em></p>
<p><figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-1024x495.png" alt="" class="wp-image-280143" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/05154058/image-12.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></p>
<h3 class="wp-block-heading"><strong>This Week&#8217;s Top-Performing S&amp;P 500 Stocks</strong></h3>
<p><figure class="wp-block-table is-style-stripes"><br />
<table>
<tbody>
<tr>
<td><strong>Company Name</strong></td>
<td><strong>Price Change % (5D)</strong></td>
</tr>
<tr>
<td><strong>Newmont Corporation</strong></td>
<td>10.67%</td>
</tr>
<tr>
<td><strong>Marathon Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>)</td>
<td>8.99%</td>
</tr>
<tr>
<td><strong>Meta Platforms, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>8.31%</td>
</tr>
<tr>
<td><strong>Valero Energy Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>)</td>
<td>7.70%</td>
</tr>
<tr>
<td><strong>NRG Energy, Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</td>
<td>7.70%</td>
</tr>
<tr>
<td><strong>Occidental Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) </td>
<td>6.97%</td>
</tr>
<tr>
<td><strong>Western Digital Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NYSE">WDC</a>)</td>
<td>6.84%</td>
</tr>
</tbody>
</table>
<p></p></figure></p>
<h3 class="wp-block-heading">This Week&#8217;s Top Performing Gold And Silver Mining Stocks </h3>
<p><figure class="wp-block-table is-style-stripes"><br />
<table>
<tbody>
<tr>
<td><strong>Company Name</strong></td>
<td><strong>Price Change % (5D)</strong></td>
</tr>
<tr>
<td><strong>First Majestic Silver Corp. </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>)</td>
<td>32.57%</td>
</tr>
<tr>
<td><strong>Coeur Mining, Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>29.18%</td>
</tr>
<tr>
<td><strong>Fortuna Silver Mines Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSM#NYSE">FSM</a>)</td>
<td>26.01%</td>
</tr>
<tr>
<td><strong>Calibre Mining Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXB#NYSE">CXB</a>)</td>
<td>18.56%</td>
</tr>
<tr>
<td><strong>Pan American Silver Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>)</td>
<td>16.55%</td>
</tr>
<tr>
<td><strong>MAG Silver Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAG#NYSE">MAG</a>)</td>
<td>14.70%</td>
</tr>
<tr>
<td><strong>Hecla Mining Company</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>)</td>
<td>14.66%</td>
</tr>
<tr>
<td><strong>Emerald Resources NL</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>)</td>
<td>13.65%</td>
</tr>
<tr>
<td><strong>K92 Mining Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNT#NYSE">KNT</a>)</td>
<td>13.49%</td>
</tr>
<tr>
<td><strong>Aya Gold &amp; Silver Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYA#NYSE">AYA</a>)</td>
<td>12.95%</td>
</tr>
</tbody>
</table>
<p></p></figure></p>
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<p>Across the recent three months, 10 analysts have shared their insights on Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), expressing a variety of opinions spanning from bullish to bearish.</p>
<p>The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $204.7, along with a high estimate of $230.00 and a low estimate of $168.00. This upward trend is apparent, with the current average reflecting a 16.77% increase from the previous average price target of $175.30.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1712322057_0.png" alt="price target chart" /></p>
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
<p>A clear picture of Marathon Petroleum's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Theresa Chen</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$221.00</td>
<td>$168.00</td>
</tr>
<tr>
<td>Ryan Todd</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$204.00</td>
<td>$159.00</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$227.00</td>
<td>$214.00</td>
</tr>
<tr>
<td>John Royall</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$186.00</td>
<td>$172.00</td>
</tr>
<tr>
<td>Neil Mehta</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$211.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$201.00</td>
<td>$159.00</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$214.00</td>
<td>$183.00</td>
</tr>
<tr>
<td>Doug Leggate</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Neutral</td>
<td>$230.00</td>
<td>$185.00</td>
</tr>
<tr>
<td>Theresa Chen</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$168.00</td>
<td>$163.00</td>
</tr>
<tr>
<td>Justin Jenkins</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Strong Buy</td>
<td>$185.00</td>
<td>$175.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Marathon Petroleum. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li><strong>Rating:</strong> Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Marathon Petroleum compared to the broader market.</li>
<li><strong>Price Targets:</strong> Understanding forecasts, analysts offer estimates for Marathon Petroleum's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
<p>Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Marathon Petroleum's market standing. Stay informed and make data-driven decisions with our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/MPC/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Marathon Petroleum analyst ratings.</strong></a></p>
<h2>About Marathon Petroleum</h2>
<p>Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 3.0 million barrels per day. Its Dickinson, North Dakota, facility produces 184 million gallons a year of renewable diesel. Its Martinez, California, facility will have the ability to produce 730 million gallons a year of renewable diesel once converted. The firm also owns and operates midstream assets primarily through its listed master limited partnership, MPLX.</p>
<h3>Breaking Down Marathon Petroleum's Financial Performance</h3>
<p><strong>Market Capitalization Analysis:</strong> The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.</p>
<p><strong>Decline in Revenue:</strong> Over the 3 months period, Marathon Petroleum faced challenges, resulting in a decline of approximately <strong>-8.94%</strong> in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.</p>
<p><strong>Net Margin:</strong> Marathon Petroleum's net margin excels beyond industry benchmarks, reaching <strong>4.0%</strong>. This signifies efficient cost management and strong financial health.</p>
<p><strong>Return on Equity (ROE):</strong> Marathon Petroleum's ROE stands out, surpassing industry averages. With an impressive ROE of <strong>5.77%</strong>, the company demonstrates effective use of equity capital and strong financial performance.</p>
<p><strong>Return on Assets (ROA):</strong> Marathon Petroleum's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive <strong>1.65%</strong> ROA, the company effectively utilizes its assets for optimal returns.</p>
<p><strong>Debt Management:</strong> Marathon Petroleum's debt-to-equity ratio is below the industry average. With a ratio of <b>1.17</b>, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.</p>
<h2>The Basics of Analyst Ratings</h2>
<p>Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.</p>
<p>Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Where Marathon Petroleum Stands With Analysts

<p>Barclays  analyst Theresa Chen   maintains Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) with a Overweight and raises the price target from $168 to $221.</p>


Barclays Maintains Overweight on Marathon Petroleum, Raises Price Target to $221

<p>Piper Sandler  analyst Ryan Todd   maintains Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) with a Neutral and raises the price target from $159 to $204.</p>


Piper Sandler Maintains Neutral on Marathon Petroleum, Raises Price Target to $204

<p>Wells Fargo  analyst Roger Read   maintains Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) with a Overweight and raises the price target from $214 to $227.</p>


Wells Fargo Maintains Overweight on Marathon Petroleum, Raises Price Target to $227

Marathon Petroleum shares are trading higher amid strength in oil prices.

<p>Oil prices surged during the first quarter of 2024 as the supply/demand outlook tightened and global geopolitical concerns intensified, pushing both U.S. and European benchmark crude futures to <a href="https://www.benzinga.com/markets/commodities">five month highs</a>.</p>
<p>Over the first three months of the year, <strong>Nymex West Texas Intermediate</strong>, the U.S. benchmark futures contract rose by 16.1%, closing at $83.20 a barrel on March 28, having ended 2023 at $71.65. WTI rose in every month of the first quarter, following three months of declines between October-December 2023.</p>
<p>European benchmark <strong>Brent crude</strong> rose 13% over the first quarter, closing at $87.50 a barrel on March 28, having ended 2023 at $77.40. It also rose every month of Q1 after three months of losses.</p>
<p>The <strong>United States Oil Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), an exchange traded fund that tracks the U.S. oil price showed a similar pattern of gains, rising 18.1% over the first quarter.</p>
<p><figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/03064339/newplot-2024-04-03T114317.517.png" alt="" class="wp-image-275380" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/03064339/newplot-2024-04-03T114317.517.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/03064339/newplot-2024-04-03T114317.517-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure></p>
<p><em>Also Read: <a href="https://www.benzinga.com/markets/equities/24/04/38055221/biden-xi-talks-continue-technology-block-taiwan-top-candid-exchange-of-views">Biden-Xi Talks Continue: Technology Block, Taiwan Top &#8216;Candid Exchange Of Views&#8217;</a></em></p>
<h2 class="wp-block-heading">First Quarter Review</h2>
<p>Oil prices had ended 2023 with sharp losses, falling more than 20% between their late-October peak and mid-December trough as global recession fears struck at demand forecasts.</p>
<p>However, as persistently robust economic data in the U.S. kept confounding expectations — particularly labor market and inflation figures — oil prices began to move higher.</p>
<p>They were given further fuel as organizations such as OPEC, the oil cartel, and the International Energy Agency (IEA) raised their demand forecasts to account for the improving economic outlook.</p>
<p>In addition, OPEC in March extended its 2.2 million barrels-a-day (b/d) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37455561/natural-gas-soars-after-top-us-producer-slashes-output-oil-prices-dip-as-opec-exten">output curbs</a> to the end of June, adding pressure to the supply side.</p>
<p>But, perhaps, the greatest influence over pricing was geopolitical as the major conflicts in Ukraine and Israel intensified.</p>
<p>Ukraine&#8217;s tactical change to target Russian petroleum infrastructure, knocking out large chucks of the producer&#8217;s refining capacity, and increased attacks on Red Sea shipping by Iran-backed Yemeni Houthis in response to the Israel-Hamas war in the Gaza Strip, directly threatened supply for the first time in several quarters.</p>
<p>The IEA said in its March report, as it raised its 2024 demand growth outlook by 110,000 b/p: &#8220;Ongoing Houthi shipping attacks in the Red Sea kept a firm bid under crude prices. With oil tankers taking the longer route around Africa more oil was kept on water, further tightening the Atlantic Basin market.&#8221;</p>
<h2 class="wp-block-heading">Outlook For Q2 And Beyond</h2>
<p>Energy analysts tend to be in agreement that oil prices are unlikely to fall back sharply in the coming weeks and months.</p>
<p><strong>Warren Patterson</strong>, chief commodities strategist at ING, said, &#8220;Rising concerns over tightening supply along with the persistent uncertainty in the Middle East continue to support the uptrend in speculative bets.&#8221;</p>
<p>&#8220;We have revised higher our short-term price forecast, while also adjusting the profile later in the year with prices likely to peak in the third rather than in the final quarter of the year as previously expected,&#8221; Patterson added.</p>
<p>OPEC&#8217;s production curbs are set to remain in place until the end of June, U.S. economic indicators continue to surpass expectations and China growth is starting to pick up a little speed.</p>
<p>The geopolitical situation remains tense with the ongoing conflict between Russia and Ukraine, which shows no immediate signs of resolution. Ukraine continues to defend its territory with support from Western nations. </p>
<p>Tensions in the Middle East are escalating, <a href="http://benzinga.com/government/24/04/38031594/oil-at-6-month-high-as-alleged-israel-airstrike-on-damascus-fuels-concerns-over-wider-middle-east-co">with Israeli airstrikes </a>extending into Syria and Lebanon, potentially drawing the region closer to a broader conflict, as Iran&#8217;s established support for local militant groups adds layers to the regional tensions.</p>
<p>That&#8217;s not even mentioning China&#8217;s ambitions for Taiwan.</p>
<p>These factors are increasingly drawing in speculative investors. Commodity Futures Trading Commission <a href="https://www.investing.com/economic-calendar/cftc-crude-oil-speculative-positions-1653">data</a> show that speculative net long positions — betting on further gains for crude — have reached their highest levels in five months.</p>
<p>And Reuters reported last week that hedge funds were piling in, buying the equivalent of 140 million barrels in top futures contracts in the seven days to March 19 — the fastest pace of buying since December 2019.</p>
<h2 class="wp-block-heading">Oil Production Companies</h2>
<p>With the above factors bolstering oil prices, it&#8217;s been a pretty good quarter for the major oil and gas producers.</p>
<p>The <strong>Energy Select Sector SPDR Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), an exchange traded fund that tracks the major energy stocks on the S&amp;P 500, has gained 14.4% over the year so far.</p>
<p>Its top three holdings are <strong>Exxon Mobil Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), which has gained 19.3% year-to-date, <strong>ConocoPhillips</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), up 12.6% and <strong>Chevron Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) up 7.1%.</p>
<p>But the biggest gains have come from some of the downstream refinery, marketing and transportation plays as the prices of wholesale gasoline outstripped gains in crude prices. Compare the quarterly gains of 32% for <strong>RBOB Gasoline futures</strong>, with the 16% rise in WTI.</p>
<p>Thus, <strong>Marathon Petroleum Corp</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) gained 42.5% year-to-date, while <strong>Valero Energy Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) climbed 36.3%.</p>
<p><em>Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37971268/golden-cross-pattern-emerges-in-us-energy-stocks-goldman-sachs-names-5-top-upstream">Golden Cross Pattern Emerges In US Energy Stocks: Goldman Sachs Names 5 &#8216;Top Upstream Oil Picks&#8217;</a></em></p>
<p><em>Photo: Shutterstock.com</em></p>


<p>In an environment marked by a combination of tight supply, escalating demand, and ongoing geopolitical tensions, oil prices are projected to surge, potentially reaching a peak of approximately <a href="https://www.benzinga.com/topic/oil">$95 per barrel this summer. </a></p>
<p>This perspective comes from Francisco Blanch, a leading commodity and derivatives strategist at Bank of America, who has recently revised his outlook on the oil market in light of these evolving dynamics.</p>
<p>&#8220;Oil is fighting the Fed, again,&#8221; Blanch stated in a note published Wednesday. The analyst highlights that escalating fuel prices are influencing headline Consumer Price Index (CPI) trends, thereby potentially limiting the scope for central banks to implement rate cuts.</p>
<p>According to Blanch, the oil outlook is currently dominated by four forces: </p>
<ul>
<li><strong>Persistently low inventories:</strong> Across the board, the oil complex is experiencing significantly low inventory levels, a situation that is contributing to upward pressure on prices.</li>
<li><strong>OPEC+ production decisions:</strong> The output cuts enforced by OPEC+ countries are serving to tighten supply in the global market.</li>
<li><strong>Geopolitical flashpoints:</strong> Escalating tensions in key regions, notably involving Iran, Russia, and Venezuela, not only threaten supply chains but also, paradoxically, stimulate oil demand through longer trade routes and reduced refining capacities due to infrastructure attacks.</li>
<li><strong>Economic growth:</strong> Robust growth figures are painting a picture of stronger-than-anticipated demand, particularly for the upcoming summer driving season.</li>
</ul>
<p>In response to these developments, Blanch has adjusted his forecasts for Brent and West Texas Intermediate (WTI) crude oil, projecting average prices for 2024 at $86 and $81 per barrel, respectively, with a peak expected at around $95 per barrel during the summer months.</p>
<p><strong>Central Banks&#8217; Inflation Targeting Dilemma</strong></p>
<p>Highlighting the influence of monetary policy on commodity prices, Blanch remarks, &#8220;we continue to believe that lower interest rates and easier financial conditions will support rising commodity prices into summer.&#8221;</p>
<p>Still, while rising energy prices complicate the Federal Reserve&#8217;s mission to lower interest rates, Blanch points out that central banks are presently more concentrated on curbing core inflation, which excludes the volatile sectors of food and fuel. </p>
<p>Nonetheless, the persistent inflation within the services sector across major economies remains a challenge. &#8220;A surprise surge in cyclical commodity prices could further firm up this trend,&#8221; Blanch warns.</p>
<p><strong>US Energy Stocks React To Rising Oil Prices </strong></p>
<p>With oil prices experiencing a surge of over 15% since the start of the year, U.S. energy stocks have led the way in performance across various equity sectors in the first quarter.</p>
<p>The <strong>Energy</strong>&nbsp;<strong>Select Sector SPDR Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) is up 16% year-to-date, with the sector&#8217;s heavyweight <strong>Exxon Mobil Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) up by nearly 20%, breaking new record highs. </p>
<p>Leading the pack in the energy sector&#8217;s year-to-date performance is <strong>Marathon Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) which has seen a remarkable 44% rally.</p>
<p>Read now: <em><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38031108/investors-eye-next-moves-after-stellar-quarter-for-s-p-500-option-demand-for-black-">Investors Eye Next Moves After Stellar Quarter For S&amp;P 500: Option Demand For &#8216;Black Swan Events&#8217; Rises</a></em></p>
<p><em>Image generated using artificial intelligence with Midjourney.</em></p>


Analyst Color

Crude Prices Could Hit $95 This Summer: 'Oil Is Fighting The Fed, Again'

EQNR

SHEL

Shares of petroleum-related stocks are trading higher as oil rises amid Middle East tensions, which has drove supply concerns.

<p>The first quarter of 2024 proved to be an eventful period for investors as the <strong>S&amp;P 500 Index</strong> exhibited significant growth, surging by 9.94%. Among the various sectors comprising the index, two sectors stood out for their remarkable performance: energy <a href="https://www.benzinga.com/quote/XLC">and communication services</a>. </p>
<p>The S&amp;P 500 Index is widely tracked by the <strong>SPDR S&amp;P 500 ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), the <strong>iShares Core S&amp;P 500 ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>) and the <strong>Vanguard S&amp;P 500 ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>).</p>
<p><em>Also Read: <a href="https://www.benzinga.com/markets/equities/24/03/37927561/goldman-sachs-predicts-15-upside-for-s-p-500-ai-boom-could-drive-market-to-6-000">Goldman Sachs Predicts 15% Upside For S&amp;P 500, AI Boom Could Drive Market To 6,000</a></em></p>
<p>Let&#8217;s delve deeper into the standout sectors and the top-performing stocks within each.</p>
<h2 class="wp-block-heading">Energy Sector: A Strong Rally (+13.47%)</h2>
<p>The energy sector, represented by the <strong>SPDR Energy Select Sector Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), experienced a notable upswing with a growth rate of 13.47% during Q1. This surge can be attributed to multiple factors, including the ongoing global economic recovery, increased demand for oil and gas, and supply chain disruptions impacting the sector.</p>
<p><figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="630" height="465" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/02084242/Screenshot-2024-04-02-at-6.11.58-PM.png" alt="" class="wp-image-273757" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/02084242/Screenshot-2024-04-02-at-6.11.58-PM.png 630w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/02084242/Screenshot-2024-04-02-at-6.11.58-PM-300x221.png 300w" sizes="(max-width: 630px) 100vw, 630px" /></figure></p>
<p><em><a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Chart: Benzinga Pro</a></em></p>
<p>Leading the charge in the energy sector were several key stocks that significantly contributed to its impressive performance:</p>
<ol>
<li><strong>Marathon Petroleum Corp. </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>): With a remarkable surge of 37.78%, Marathon Petroleum stock has emerged as one of the top-performing stocks in the energy sector. The company, which engages in refining, marketing, and transportation of petroleum products, benefited from rising oil prices and strong demand for refined products.</li>
<li><strong>Valero Energy Corp </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>): Valero Energy stock recorded a substantial gain of 32.80% during Q1. As one of the largest independent petroleum refining and marketing companies, Valero capitalized on favorable market conditions, robust refining margins, and operational efficiencies to drive its impressive performance.</li>
<li><strong>Targa Resources Corp </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>): Targa Resources&#8217; stock witnessed a solid growth rate of 29.19% in Q1. The company, specializing in the gathering, processing, and storage of natural gas and natural gas liquids, benefited from increased demand for natural gas and higher commodity prices.</li>
<li><strong>Diamondback Energy Inc </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>): Diamondback Energy, an independent oil and natural gas company, saw its stock price surge by 28.61% during the first quarter. The company&#8217;s focus on efficient operations, cost discipline, and strategic asset development contributed to its strong performance amid favorable market conditions.</li>
<li><strong>Phillips 66 </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>): Phillips 66 is a diversified energy manufacturing and logistics company. Its stock delivered a solid performance with a growth rate of 22.68% in Q1. The company&#8217;s integrated business model, along with its focus on operational excellence and capital discipline, positioned it well to capitalize on improving market dynamics.</li>
</ol>
<h2 class="wp-block-heading">Communication Services: Riding High (+13.25%)</h2>
<p>While the energy sector led the pack, communication services emerged as a close second in terms of performance. <strong>The Communication Services Select Sector SPDR Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>), which adequately represents the sector&#8217;s equity, posted a return of 13.25% over the past 3 months. This sector, encompassing companies involved in telecommunications, media, and entertainment, benefited from various factors driving demand for digital services and content consumption.</p>
<p><figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="630" height="465" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/02084256/Screenshot-2024-04-02-at-6.12.16-PM.png" alt="" class="wp-image-273758" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/02084256/Screenshot-2024-04-02-at-6.12.16-PM.png 630w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/02084256/Screenshot-2024-04-02-at-6.12.16-PM-300x221.png 300w" sizes="(max-width: 630px) 100vw, 630px" /></figure></p>
<p><a class="c-link" data-stringify-link="https://pro.benzinga.com/dashboard" delay="150" data-sk="tooltip_parent" style="box-sizing: inherit; color: rgba(var(--sk_highlight,18,100,163),1); text-decoration-line: none;" href="https://pro.benzinga.com/dashboard" target="_blank" rel="noopener noreferrer"><em>Chart: Benzinga Pro</em></a></p>
<p>Here are the top-performing stocks within the communication services sector:</p>
<ol>
<li><strong>Meta Platforms, Inc. Class A </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>): Formerly known as Facebook, Meta Platforms&#8217; stock witnessed an impressive surge of 38.82% in Q1. The company&#8217;s strategic focus on the metaverse, virtual reality technologies, and digital advertising propelled its stock to new heights, despite regulatory challenges and controversies.</li>
<li><strong>Walt Disney Co </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>): Walt Disney stock experienced robust growth of 34.60% during the first quarter. The entertainment giant&#8217;s diversified portfolio of media networks, theme parks, and streaming services, coupled with successful content releases and the gradual recovery of the global tourism industry, contributed to its stellar performance.</li>
<li><strong>Netflix Inc </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>): Netflix is a leading streaming service provider. Netflix stock&#8217;s performance during the past quarter was solid, recording a growth rate of 26.17% in Q1. The company continued to benefit from the secular shift towards digital streaming, the success of its original content, and its expanding international subscriber base.</li>
<li><strong>Verizon Communications Inc </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>): Verizon Communications is a well-known telecommunications company. Its stock posted a respectable gain of 12.15% during the first quarter. The company&#8217;s focus on expanding its 5G network infrastructure, improving customer experiences, and diversifying its revenue streams contributed to its steady growth.</li>
<li><strong>Omnicom Group Inc </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMC#NYSE">OMC</a>): Leading global marketing and corporate communications company, Omnicom Group&#8217;s stock price rose by 11.64% in Q1. The company&#8217;s diverse range of advertising, marketing, and public relations services, combined with its ability to adapt to evolving consumer trends, supported its solid performance.</li>
</ol>
<p>The first quarter of 2024 witnessed robust performance across various sectors of the S&amp;P 500 index. The energy sector emerged as the top performer, while communication services followed closely behind. The financials sector, as represented by the <strong>SPDR Select Sector Fund &#8211; Financial</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), was up 11.30% while the industrials sector came in fourth at 9.65%. The industrials sector is tracked by the <strong>SPDR Select Sector Fund &#8211; Industrial</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>).</p>
<p><em>Read Next: <a href="https://www.benzinga.com/markets/equities/24/03/37763852/bizarrely-overvalued-s-p-500-could-plummet-49-if-recession-strikes-warns-top-strategist">&#8216;Bizarrely Overvalued&#8217;: S&amp;P 500 Could Plummet 49% If Recession Strikes, Warns Top Strategist</a></em></p>
<p><em>Image generated using artificial intelligence via Midjourney.</em></p>


Long Ideas

NFLX

TRGP

S&P 500's Q1 Standouts: Energy, Communication Sectors In The Lead — 10 Top-Performing Stocks

<p>High-rolling investors have positioned themselves bullish on Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), and it's important for retail traders to take note.<br />
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in MPC often signals that someone has privileged information.</p>
<p>Today, Benzinga's options scanner spotted 9 options trades for Marathon Petroleum. This is not a typical pattern.</p>
<p>The sentiment among these major traders is split, with 55% bullish and 44% bearish. Among all the options we identified, there was one put, amounting to $50,104, and 8 calls, totaling $1,587,380.</p>
<h3>Projected Price Targets</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $65.0 to $200.0 for Marathon Petroleum during the past quarter. </p>
<h3>Insights into Volume &amp; Open Interest</h3>
<p>Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Marathon Petroleum's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Marathon Petroleum's whale trades within a strike price range from $65.0 to $200.0 in the last 30 days. </p>
<h3>Marathon Petroleum Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1712001636_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>MPC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$10.4</td>
<td>$10.35</td>
<td>$10.35</td>
<td>$200.00</td>
<td>$537.1K</td>
<td>1.2K</td>
<td style="text-align: right;">934</td>
</tr>
<tr>
<td>MPC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$10.45</td>
<td>$10.3</td>
<td>$10.3</td>
<td>$200.00</td>
<td>$412.0K</td>
<td>1.2K</td>
<td style="text-align: right;">15</td>
</tr>
<tr>
<td>MPC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$27.8</td>
<td>$27.0</td>
<td>$27.8</td>
<td>$175.00</td>
<td>$225.1K</td>
<td>1.0K</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>MPC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$60.0</td>
<td>$59.5</td>
<td>$60.0</td>
<td>$165.00</td>
<td>$180.0K</td>
<td>9</td>
<td style="text-align: right;">30</td>
</tr>
<tr>
<td>MPC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$10.4</td>
<td>$10.4</td>
<td>$10.4</td>
<td>$200.00</td>
<td>$72.8K</td>
<td>1.2K</td>
<td style="text-align: right;">934</td>
</tr>
</tbody>
</table>
</p>
<h3>About Marathon Petroleum</h3>
<p>Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 3.0 million barrels per day. Its Dickinson, North Dakota, facility produces 184 million gallons a year of renewable diesel. Its Martinez, California, facility will have the ability to produce 730 million gallons a year of renewable diesel once converted. The firm also owns and operates midstream assets primarily through its listed master limited partnership, MPLX.</p>
<h3>Present Market Standing of Marathon Petroleum</h3>
<ul>
<li>Currently trading with a volume of 1,602,654, the MPC's price is up by 0.19%, now at $201.89. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 29 days.</li>
</ul>
<h3>Expert Opinions on Marathon Petroleum</h3>
<p>Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $208.4.</p>
<ul>
<li>An analyst from B of A Securities persists with their Neutral rating on Marathon Petroleum, maintaining a target price of $230. </li>
<li>An analyst from Goldman Sachs persists with their Buy rating on Marathon Petroleum, maintaining a target price of $211. </li>
<li>An analyst from Mizuho has decided to maintain their Neutral rating on Marathon Petroleum, which currently sits at a price target of $201. </li>
<li>An analyst from Wells Fargo persists with their Overweight rating on Marathon Petroleum, maintaining a target price of $214. </li>
<li>Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Marathon Petroleum with a target price of $186. </li>
</ul>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Marathon Petroleum, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


Unpacking the Latest Options Trading Trends in Marathon Petroleum

<p>JP Morgan  analyst John Royall   maintains Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) with a Neutral and raises the price target from $172 to $186.</p>


JP Morgan Maintains Neutral on Marathon Petroleum, Raises Price Target to $186

<p><strong>Marathon Petroleum's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) short percent of float has fallen 10.91% since its last report. The company recently reported that it has <strong>7.19 million shares sold short</strong>, which is 1.96% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 2.89 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>Marathon Petroleum Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1711557007_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for Marathon Petroleum has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.</p>
<h3>Comparing Marathon Petroleum's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Marathon Petroleum's peer group average for short interest as a percentage of float is 8.71%, which means the company has <strong>less</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


Short Sellers

Short Ideas

How Is The Market Feeling About Marathon Petroleum?

After lagging in 2023, the energy sector returned to the top of all sector returns in Q1 with a 13.5% return. This was driven by rising oil prices during the quarter. All segments of the energy sector were up, but the refiners were outstanding.

The Best Performing Energy Stocks Of Q1 2024

Stocks with the highest swings in option premium price over 3 months - JPM

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Crude oil prices show little sign of slowing their ascent (and probably won&rsquo;t), meaning it&rsquo;s a great time to consider <a href="https://investorplace.com/industries/energy/">energy stocks</a>. Yeah, it may not align with contemporary politics and ideologies of pushing green solutions. However, the hydrocarbon industry aligns with reality. That&rsquo;s the most important consideration.</p>



<p>On the domestic political front, President Joe Biden is simply not popular. Therefore, I doubt that he can adopt a draconian approach to the hydrocarbon industry. That&rsquo;s one reason why crude oil prices may rise. On the international front, <a href="https://investorplace.com/2024/04/cpi-shocker-why-are-gas-prices-going-up-again/#:~:text=A%20combination%20of%20acute%20catalysts,the%20bulk%20of%20the%20story.">geopolitical flashpoints</a> will likely reduce supplies for western nations. That&rsquo;s coming in a time of heightened demand, which could bode well for energy stocks.</p>



<p>Finally, the fallout in electric vehicle demand suggests that this mobility platform is still too expensive for most Americans. So, hydrocarbons will likely be relevant for longer than expected. Again, it&rsquo;s a great time to consider the below energy stocks.</p>



<h2>Chevron (CVX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/cvx-stock-6-300x169.jpg" alt='Chevron (CVX) logo on gas station sign with "diesel" and "food mart" written underneath'><div>Source: Sundry Photography / Shutterstock.com</div></div><p>As an integrated hydrocarbon giant, <strong>Chevron</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/cvx-stock-quote/"><strong>CVX</strong></a>) is one of the most recognizable names among energy stocks. Further, with crude oil prices projected to rise, it&rsquo;s one of the top ideas to add to your portfolio. Analysts rate shares a<a href="https://www.tipranks.com/stocks/cvx/forecast"> consensus strong buy</a> with a $181.87 average price target, implying over 14% upside potential. The high-side target lands at $203.</p>



<p>To be fair, analysts at the moment don&rsquo;t see much happening for the next two years. For fiscal 2024, they&rsquo;re projecting earnings per share to reach $12.05. That&rsquo;s lower than last year&rsquo;s print of $12.22. That said, for fiscal 2025, they&rsquo;re looking at $13.56.</p>



<p>On the top line, covering experts anticipate revenue to hit $183.84 billion. If so, that would mean a loss of 1.7% from last year&rsquo;s tally of $187.07 billion. And in fiscal 2025, sales might reach $183.88 billion, which is just not that remarkable.</p>



<p>However, because of the shifting fundamentals &ndash; particularly the possible fading of relevance of the EV sector &ndash; CVX is worth consideration.</p>



<h2>Occidental Petroleum (OXY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/09/oxy1600-300x169.png" alt="Person holding cellphone with logo of American company Occidental Petroleum Corp. (OXY) on screen in front of website. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div><p>Based in Houston, Texas, <strong>Occidental Petroleum</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/oxy-stock-quote/"><strong>OXY</strong></a>) operates under the <a href="https://finance.yahoo.com/quote/OXY/profile">exploration and production segment</a> or the upstream component of the hydrocarbon value chain. It&rsquo;s one of the top energy stocks to buy for diverse exposure to the underlying industry. In addition to its upstream business, it also features a midstream and marketing (downstream) unit.</p>



<p>Presently, Wall Street analysts peg OXY a <a href="https://www.tipranks.com/stocks/oxy/forecast">consensus moderate buy</a>. For full disclosure, the average price target sits at $68.71. That&rsquo;s basically where the price of OXY stock trades now. However, the high-side target calls for $80.</p>



<p>For the current fiscal year, analysts are looking for EPS of $3.66. Admittedly, that&rsquo;s a disappointing projection from last year&rsquo;s print of $3.69. However, it must be stated that the most optimistic target calls for an EPS of $5.39.</p>



<p>On the top line, sales are projected to hit $30.05 billion. That&rsquo;s up 3.9% from last year. Also, with the fundamentals so favorable for energy stocks, the high-side sales target of $32.15 billion isn&rsquo;t unreasonable.</p>



<h2>Kinder Morgan (KMI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/kinder_morgan_kmi_1600-300x169.jpg" alt="Kinder Morgan logo on a sign outside the company headquarters in Houston."><div>Source: JHVEPhoto / Shutterstock.com</div></div><p>One of the top energy stocks listed under the oil and gas midstream sector, <strong>Kinder Morgan</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/kmi-stock-quote/"><strong>KMI</strong></a>) arguably represents a no-brainer investment. While EVs have seen accelerated sales over the past several years, the world continues to run on oil. And that&rsquo;s because most drivers continue to drive combustion-powered vehicles for a variety of reasons. So, midstream services like storage and transportation will likely blossom.</p>



<p>Currently, analysts rate shares a <a href="https://www.tipranks.com/stocks/kmi/forecast">consensus moderate buy</a>. That&rsquo;s not surprising given the fundamental relevance. Also, the average price target comes in at $20, implying over 10% upside potential. I think this might be understated, though the high-side target is $22. That implies over 21% upside, which is more reasonable in my opinion.</p>



<p>For fiscal 2024, covering experts believe EPS will hit $1.22. Notably, that&rsquo;s an improvement over last year&rsquo;s print of $1.06. On the top line, they&rsquo;re looking for sales of $17.72 billion. That&rsquo;s a very solid gain of 16.9% over last year&rsquo;s haul of $15.16 billion. And for fiscal 2025, revenue could fly to $18.38 billion.</p>



<p>Overall, with crude oil prices rising, KMI is a great buy for forward-thinking investors.</p>



<h2>Marathon Petroleum (MPC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/11/marathon-oil-mro-1600-300x169.jpg" alt="Marathon Oil gas station carport on sunny day with blue sky background"><div>Source: Jonathan Weiss/shutterstock.com</div></div><p>Headquartered in Findlay, Ohio, <strong>Marathon Petroleum</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/mpc-stock-quote/"><strong>MPC</strong></a>) operates under the oil and gas refining and marketing segment. As a downstream specialist, Marathon stands to benefit from a cynical reality. No matter what happens in the economy, people need to move about. Since most transportation and mobility occurs via combustion power, MPC could swing higher. That&rsquo;s really the bullish case for most hydrocarbon energy stocks.</p>



<p>Analysts agree, rating MPC stock a <a href="https://www.tipranks.com/stocks/mpc/forecast">consensus moderate buy</a>. However, shares have already gained 37% on a year-to-date basis. Therefore, the average price target of $196.21 reflects 6% downside risk. In my opinion, that just means the experts need to reassess their targets based on present and projected realities. Notably, though, the high-side estimate calls for a price per share of $249.</p>



<p>For the current fiscal year, analysts are seeking EPS of $17.69. That&rsquo;s low compared to last year&rsquo;s print of $23.63. Even the most optimistic target here calls for $23.45 EPS. And circumstances don&rsquo;t improve on the top line, with projected sales of $138.4 billion implying an 8% decline from last year.</p>



<p>However, the high-side revenue target stands at $160 billion. That might be more reflective of the current paradigm in energy stocks.</p>



<h2>VAALCO Energy (EGY)</h2>



<a href="https://investorplace.com/wp-content/uploads/2023/05/social_image_resized.jpg"><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/05/social_image_resized-300x169.jpg" alt="EGY Stock"></a><p>Moving over to the speculative side of investment ideas for rising crude oil prices, <strong>VAALCO Energy</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/egy-stock-quote/"><strong>EGY</strong></a>) is an independent energy firm. It focuses on the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids. Given the geopolitical flashpoints and the implied reduction of critical commodity supplies, EGY stock could see significant demand.</p>



<p>To be sure, the market has already responded, with shares up nearly 54% YTD. However, crude prices may continue running up as geopolitical flashpoints and tensions throughout the world show no sign of abating. Therefore, analysts rate EGY a unanimous strong buy with an $8.20 average price target. That implies 17% upside potential. Further, the high-side target calls for $9.07.</p>



<p>For the current fiscal year, experts are anticipating EPS of $1. If so, that would be a significant bump up from last year&rsquo;s EPS of 62 cents. However, the forecasted revenue of $430.27 million would be down 5.4% from 2023&rsquo;s print of $455.07 million.</p>



<p>However, the current realities of energy stocks imply that the high-side target of $484.3 million is within the realm of possibility.</p>



<h2>Transocean (RIG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/rig-1600-300x169.jpg" alt="Transocean logo on a laptop screen. RIG stock."><div>Source: Postmodern Studio / Shutterstock</div></div><p>A Switzerland-based enterprise, <strong>Transocean</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/rig-stock-quote/"><strong>RIG</strong></a>) along with its subsidiaries provides offshore contract drilling services for oil and gas wells worldwide. <a href="https://finance.yahoo.com/quote/RIG/profile">Per its public profile</a>, Transocean contracts mobile offshore drilling rigs, related equipment and work crews to drill oil and gas wells. Again, with military conflict likely to crimp supplies of critical commodities, RIG is one of the energy stocks to watch.</p>



<p>To be fair, RIG is also one of the riskiest ideas to exploit rising crude oil prices. Right now, analysts peg shares a consensus hold. Within the assessment among eight experts, there&rsquo;s one sell rating which isn&rsquo;t particularly encouraging. However, the average price target stands at $7.64, which implies growth potential of nearly 24%.</p>



<p>Still, for speculators, Transocean deserves to be on your radar. For fiscal 2024, analysts project a loss per share of four cents, a major improvement over last year&rsquo;s loss of 96 cents. On the revenue front, the company could ring up $3.64 billion, up 28.4% from 2023&rsquo;s result of $3.8 billion. Further, fiscal 2025 sales could hit $4.03 billion, nearly 11% higher than projected 2024 revenue.</p>



<h2>Halliburton (HAL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/hal1600a-300x169.jpg" alt="The Halliburton (HAL) logo on the website homepage. HAL stock price prediction."><div>Source: Casimiro PT / Shutterstock.com</div></div><p>Based in Houston, Texas, <strong>Halliburton</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/hal-stock-quote/"><strong>HAL</strong></a>) provides products and services to the energy industry worldwide. It operates through two segments: Completion and Production and Drilling and Evaluation. As an equipment and services specialist, Halliburton offers myriad relevancies to energy stocks overall. So, it stands to be a beneficiary should crude oil prices continue to rise.</p>



<p>What&rsquo;s more, analysts rate shares a <a href="https://www.tipranks.com/stocks/hal/forecast">unanimous strong buy</a>. And that&rsquo;s among 14 experts, which is quite impressive. Overall, the average price target clocks in at $47.36, implying over 19% upside potential. However, the high-side estimate calls for a price per share of $54.</p>



<p>For the current fiscal year, covering experts are looking for EPS to land at $3.41. If so, that would be a notable bump up from last year&rsquo;s EPS of $3.13. For fiscal 2025, the bottom line could expand to earnings of $3.92 per share.</p>



<p>On the top line, revenue might reach $24.27 billion. That would be 5.4% above last year&rsquo;s tally of $23.02 billion. And fiscal 2025 could jump up to $26.12 billion or 7.6% above projected 2024 revenue.</p>



<p><em>On the date of publication, Josh Enomoto</em><em> did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;</em><em>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"><em>Publishing Guidelines</em></a><em>.</em><em></em></p>
<div><p>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</p></div><h3>More From InvestorPlace</h3>
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