Marathon Petroleum CorpPiper Sandler lifted its Marathon Petroleum price target to $462 as part of estimate increases across refiners.
Piper Sandler has lifted its price target on Chevron to a Street-high $243 from $207, part of a broader round of estimate increases across its integrated oil and refiner coverage driven by stronger crude and refining margins. The firm kept its overweight rating on the stock. Analyst John Royall raised the third-quarter Brent forecast to $88 per barrel from $80, and the fourth-quarter forecast to $90, citing continued supply issues on the diesel side lasting well into next year. The changes pushed Piper Sandler's estimates about 12% and 27% ahead of Wall Street's 2026 third-quarter and 2027 EBITDA forecasts for the majors, and roughly 15% and 36% above consensus for the refiners. Piper Sandler also lifted price targets for BP to $46, MPC to $462, PSX to $264, SHEL to $100, TTE to $93, VLO to $435, and XOM to $185.
Marathon Petroleum CorpPiper Sandler lifted its Marathon Petroleum price target to $462 as part of estimate increases across refiners.
Phillips 66Piper Sandler raised its Phillips 66 price target to $264 amid higher refining-margin estimates.
Valero Energy CorporationPiper Sandler lifted Valero's price target to $435 on stronger refining margin estimates.
Exxon Mobil CorpPiper Sandler raised Exxon Mobil's price target to $185 in its integrated oil coverage update.
BP PLCPiper Sandler raised its BP price target to $46 as part of estimate increases across integrated oil coverage.
Shell plcPiper Sandler lifted its Shell price target to $100 amid broader estimate increases on majors.
Chevron CorpPiper Sandler raised Chevron's price target to a Street-high $243 from $207, keeping an overweight rating.
TotalEnergies SEPiper Sandler raised its TotalEnergies price target to $93 in its integrated oil coverage round.
Piper Sandler Companies