Marathon Petroleum rises after Q3 profit beat, deal to sell two refineries

By Reuters News3 hours ago Updated

** Shares of refiner Marathon Petroleum MPC.N up 2.4% at $440.70 premarket

** Company beats Q3 profit estimate on strong refining margins amid a disruption in fuel supplies against the backdrop of Middle East conflict and war in Ukraine

** Reports refining and marketing margin of $45.70 per barrel vs $17.60 per barrel a year ago

** Posts adjusted profit of $26.93 per share, compared with average analysts' estimate of $24.47 per share - data compiled by LSEG

** Separately, company agrees to sell its St. Paul Park refinery in Minnesota and Mandan refinery in North Dakota, along with related midstream assets, to Carl Icahn-controlled CVR Energy CVI.N for $4.2 billion

** As of last close, MPC shares have more than doubled YTD

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