12 Best American Oil Stocks to Buy Now

9. Marathon Petroleum Corporation (NYSE:MPC)

Number of Hedge Fund Holders: 54

Marathon Petroleum Corporation (NYSE:MPC) is a leading integrated downstream and midstream energy company headquartered in Ohio. The company operates the largest refining system in the United States, boasting approximately 3 million barrels per day of crude oil capacity across 13 refineries.

On June 15, Wells Fargo analyst Sam Margolin lifted the firm’s price objective on Marathon Petroleum Corporation (NYSE:MPC) from $335 to $344, while reaffirming an ‘Overweight’ rating on the shares.

The target boost, which indicates an upside of almost 43% from the current levels, comes after the analyst firm visited Marathon’s Garyville refinery. Wells Fargo highlighted the plant’s flexibility and recent efficiency improvements, which are well-suited to the current market conditions as well as the refiner’s long-term goals.

As one of the largest refineries in the United States, Garyville has a crude oil refining capacity of 617,000 barrels per calendar day (bpcd). Marathon revealed in its last earnings call that approximately 25% of its 2026 refining value-enhancing capital is directed to Garyville. Notably, the company brought more than 30,000 bpd of incremental jet production capacity online at the refinery in March.