Billionaires Love These Energy Stocks

Marathon Petroleum Corp (NYSE:MPC)

At the end of the September quarter, 10 billionaires tracked by Insider Monkey held $916.98 million worth of shares of Marathon Petroleum Corp (NYSE:MPC). Recently, Paul Singer’s Elliot Management wrote a letter to Marathon Petroleum’s board, urging the company to review its current structure and to consider a tax-free separation of the company into three separate businesses. Marathon Petroluem responded that while it agreed with the fund’s stance that there is an upside to the company’s valuation, the company is addressing/has addressed the issue as it took several “aggressive measures” such as moving some assets to its master-limited partnership MPLX. The company also feels that its integrated and diversified model delivers substantial value. Eric W. Mandelblatt’s Soroban Capital Partners reported owning 10.74 million shares of the company at the end of the third quarter.

Encana Corporation (NYSE:ECA)

Encana Corporation (NYSE:ECA) was owned by 9 billionaires at the end of the third quarter, compared to 5 billionaires a quarter earlier. A total of 37 hedge funds tracked by Insider Monkey were bullish on the company at the end of the third quarter, more than 26 funds a quarter earlier. The company reported third quarter EPS of $0.04, crushing past the analysts’ forecast of per share loss of $0.04. Robert Pitts’ Steadfast Capital Management owns 86.82 million shares of the company. The stock went through the roof this year, gaining over 149% year-to-date

Halliburton Company (NYSE:HAL)

9 billionaires out of 64 in our list were long Halliburton Company (NYSE:HAL) at the end of the third quarter. In the same period, a total of 56 hedge funds tracked by Insider Monkey owned $1.80 billion worth of the company’s shares. In the third quarter, Halliburton earned $0.01 a share on $3.83 billion in revenue, compared to expectations of a loss of $0.07 per share on $3.9 billion in revenue. Daniel S. Och’s OZ Management owns 4.73 million shares of Halliburton, as of the end of the third quarter.

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