Wexford Capital: Joseph Jacobs, Charles Davidson, Private Equity, Energy and Real Estate Investments

3. Marathon Petroleum Corp (NYSE:MPC)

Wexford Capital’s position in Marathon Petroleum Corp (NYSE:MPC) was increased by 27% to 1.27 million shares worth $66.42 million during the second quarter.  Marathon Petroleum Corp (NYSE:MPC)’s stock has surged by nearly 25% over the last 12 months. Last October, the company said that it would drop down some of its assets to its affiliated MLP, MLPX. For the first quarter of 2017, Marathon Petroleum Corp (NYSE:MPC) posted a surprise profit due to an increase in refining margins, but its second quarter results missed the consensus estimates as refining and marketing margins were affected by higher acquisition costs of crude oil. At the end of June, 57 funds followed by us held shares of Marathon Petroleum Corp (NYSE:MPC), up from 53 funds a quarter earlier.