Billionaires Are Betting On These 5 Energy Stocks

In this article, we discuss the 5 energy stocks billionaires are betting on. To read the detailed analysis of the energy industry and its outlook, go directly to Billionaires Are Betting On These 10 Energy Stocks.

5. Marathon Petroleum Corporation (NYSE:MPC)

Number of Billionaire Investors: 15

Dollar Value of Billionaire Holdings: $2.53 billion

Marathon Petroleum Corporation (NYSE:MPC), previously a subsidiary of Marathon Oil Corporation (NYSE:MRO), is an Ohio-based company that is engaged in the refinement, marketing, and transportation of petroleum products.

Marathon Petroleum Corporation (NYSE:MPC) is an energy stock that billionaires are betting on, as 15 billionaires had investments in the stock in the third quarter at a combined value of $2.53 billion.

On November 14, Marathon Petroleum Corporation (NYSE:MPC) announced that its Green Bison soy processing facility, a joint venture with Archer-Daniels-Midland Company (NYSE:ADM), opened in North Dakota. According to the companies, the $350 million facility is expected to have an output of 600 million lbs/year of refined soybean oil and enough feedstock for around 75 million gal/year of renewable green diesel.

Out of the 910 hedge funds tracked by Insider Monkey, 48 funds had investments in Marathon Petroleum Corporation (NYSE:MPC) in Q3, up from 42 in Q2. New York-based Elliott Management was the most prominent stakeholder in the company, with 11.065 million shares worth $1.67 billion, representing 12.95% of the firm’s portfolio.