Phillips 66 and Marathon Petroleum Corporation remain attractive investments after their $180 billion merger talks collapsed due to regulatory hurdles. Both companies reported strong second quarter 2026 results, with Phillips 66 posting adjusted earnings of $3.8 billion and Marathon Petroleum generating $5.1 billion in net income. Phillips 66 reduced net debt to $16.5 billion and returned $887 million to shareholders, while Marathon returned over $2.8 billion and holds $6.1 billion in remaining buyback authorization. Hedge fund ownership shifted, with Phillips 66 held by 64 funds and Marathon by 54 funds in Q1 2026. Investors should monitor refining crack spreads, fuel demand, and capital allocation strategies.
Marathon Petroleum CorpStrong Q2 2026 results with $5.1B net income and $2.8B returned to shareholders, plus $6.1B buyback authorization.
Phillips 66Strong Q2 2026 adjusted earnings of $3.8B, reduced net debt to $16.5B, and returned $887M to shareholders.
