Marathon Petroleum vs EOG Resources
Marathon Petroleum Corporation and EOG Resources, Inc. This page compares their business models, financial performance, and market context in a neutral, accessible way. It explains how each company operates, the markets they serve, and the drivers behind their results, without making recommendations. Educational content, not financial advice.
Marathon Petroleum Corporation and EOG Resources, Inc. This page compares their business models, financial performance, and market context in a neutral, accessible way. It explains how each company op...
Why It's Moving
Marathon Petroleum Bolsters Leadership with Seasoned CFO Amid Venezuelan Crude Opportunities
- Khoury, ex-CFO at Danaher with stints at GE Oil & Gas, steps in with $800K salary and $2.4M incentives, signaling focus on robust financial strategy amid sector volatility.
- Company ramps up refinery plans for heavy crude surge from Venezuela post-Maduro ousting, positioning MPC to capitalize on untapped South American supplies.
- Ongoing share repurchases hit $650M in Q3 2025, underscoring commitment to shareholder returns as refining margins face cautious outlooks.
EOG Resources Targets $6.5B Capex for 2026 Amid Oil Oversupply, Betting on Cost Cuts and Encino Synergies.
- Plans $6.5B capex—trimmed from initial $6.6B outlook—thanks to faster-than-expected Encino integration yielding $150M in early synergies and doubled volatile-oil acreage.
- Expects low-single-digit oil growth versus late 2025 amid oversupply, prioritizing ~15% Delaware well cost reductions and digitization for strong economics.
- Commits 90-100% of free cash flow to shareholders via growing ~$4 annualized dividend and buybacks, signaling confidence in cash generation despite market headwinds.
Marathon Petroleum Bolsters Leadership with Seasoned CFO Amid Venezuelan Crude Opportunities
- Khoury, ex-CFO at Danaher with stints at GE Oil & Gas, steps in with $800K salary and $2.4M incentives, signaling focus on robust financial strategy amid sector volatility.
- Company ramps up refinery plans for heavy crude surge from Venezuela post-Maduro ousting, positioning MPC to capitalize on untapped South American supplies.
- Ongoing share repurchases hit $650M in Q3 2025, underscoring commitment to shareholder returns as refining margins face cautious outlooks.
EOG Resources Targets $6.5B Capex for 2026 Amid Oil Oversupply, Betting on Cost Cuts and Encino Synergies.
- Plans $6.5B capex—trimmed from initial $6.6B outlook—thanks to faster-than-expected Encino integration yielding $150M in early synergies and doubled volatile-oil acreage.
- Expects low-single-digit oil growth versus late 2025 amid oversupply, prioritizing ~15% Delaware well cost reductions and digitization for strong economics.
- Commits 90-100% of free cash flow to shareholders via growing ~$4 annualized dividend and buybacks, signaling confidence in cash generation despite market headwinds.
Investment Analysis
Pros
- Marathon Petroleum reported a significant revenue beat in Q3 2025, with revenue approximately $35.85 billion, nearly $3 billion above forecasts.
- The company has a diversified business with refining, marketing, midstream, and renewable diesel operations across multiple US regions.
- Management is optimistic about sustained strong refining margins due to demand strength, low inventory levels, constrained supply, and improving differentials.
Considerations
- Q3 2025 adjusted earnings per share of $3.01 missed analyst expectations of $3.18, causing negative market reaction and share price decline.
- The stock appears overvalued to some analysts despite strong revenue, with recent earnings disappointment raising concerns about profitability trends.
- Marathon’s share price has shown short-term declines and forecast models predict a slight decrease over the next year, indicating potential price headwinds.
Pros
- EOG Resources maintains strong operational efficiency and profitability in upstream exploration and production activities.
- The company benefits from a substantial resource base and reserves, supporting long-term production growth potential.
- EOG has a history of maintaining a robust balance sheet with solid liquidity, supporting capital expenditures and shareholder returns.
Considerations
- EOG Resources is exposed to commodity price volatility, which can lead to earnings unpredictability in volatile oil and gas markets.
- The company’s upstream focus makes it more sensitive to regulatory changes and environmental policies impacting fossil fuel production.
- Recent stock performance has been more volatile and shows larger drawdowns compared to some integrated downstream peers, indicating higher risk.
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Marathon Petroleum (MPC) Next Earnings Date
Marathon Petroleum (MPC) is scheduled to report its next earnings on February 3, 2026. This release will cover the fourth quarter and full-year 2025 financial results. The announcement aligns with the company's official statement and consensus estimates from market sources.
EOG Resources (EOG) Next Earnings Date
EOG Resources' next earnings date is scheduled for February 25, 2026, with a conference call and webcast at 10:00 AM EST. This report will cover the fourth quarter and full year 2025 results. The date was announced by the company on January 13, 2026, aligning with estimates from multiple analyst sources.
Marathon Petroleum (MPC) Next Earnings Date
Marathon Petroleum (MPC) is scheduled to report its next earnings on February 3, 2026. This release will cover the fourth quarter and full-year 2025 financial results. The announcement aligns with the company's official statement and consensus estimates from market sources.
EOG Resources (EOG) Next Earnings Date
EOG Resources' next earnings date is scheduled for February 25, 2026, with a conference call and webcast at 10:00 AM EST. This report will cover the fourth quarter and full year 2025 results. The date was announced by the company on January 13, 2026, aligning with estimates from multiple analyst sources.
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OPEC+'s decision to increase oil production is set to lower global prices, pressuring U.S. shale producers while defending its own market share. This scenario creates a potential investment opportunity in fuel-dependent sectors like transportation and manufacturing that stand to gain from reduced energy costs.
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Fuel up with investment opportunities in the energy markets. This collection features carefully selected stocks from industry giants and innovators, chosen by professional analysts for their potential in the growing $6.93 trillion global oil and gas market.
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Explore BasketBuy MPC or EOG in Nemo
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