5 Best Energy Stocks to Buy Now

3. Marathon Petroleum Corporation (NYSE:MPC)

Number of Hedge Fund Holders: 50

Marathon Petroleum Corporation (NYSE:MPC) is an oil refiner, transporter, and marketer that is headquartered in Findlay, Ohio, United States. It is one of the oldest companies in the world as it was set up in 1887. The firm’s refined products include gasoline, heavy fuel, and asphalt.

Marathon Petroleum Corporation (NYSE:MPC) is America’s largest oil refiner and its latest quarter saw it bring in an outstanding $4.36 billion in cash from operations. The company also expects an operating income of $19.6 billion this year, which is higher than the sum of the operating incomes for 2016 to 2018. Additionally, next year the firm is expected to generate $7.6 billion in free cash flows for a strong 17% yield over its current market value. Marathon Petroleum Corporation (NYSE:MPC) also pays a 58 cent dividend for a 2.22% yield.

Barclays raised Marathon Petroleum Corporation (NYSE:MPC)’s share price target to $112 from $94 in August 2022, sharing that U.S. refinery fundamentals will continue to do well unless there is an economic shock. Insider Monkey studied 895 hedge fund holdings for this year’s second quarter to discover that 50 had bought the company’s shares.

Marathon Petroleum Corporation (NYSE:MPC)’s largest investor is Paul Singer’s Elliott Management which owns 11 million shares that are worth $909 million.