5 Stocks That Are Aggressively Buying Back Shares According To Goldman Sachs

1. Marathon Petroleum Corporation (NYSE:MPC)

Share Price Returns From November 2, 2022 to January 30, 2023: 16.51%

Number of Hedge Fund Holders: 50

Net Buyback Yield: 22%

Marathon Petroleum Corporation (NYSE:MPC) operates as an integrated downstream energy company in the United States. On January 27, Marathon Petroleum Corporation (NYSE:MPC) declared a quarterly dividend of $0.75 per share, in line with previous. The dividend is payable on March 10, to shareholders of record on February 16. Marathon Petroleum Corporation (NYSE:MPC)’s net buyback yield as per Goldman Sachs data came in at 22%. 

On January 9, Barclays analyst Theresa Chen raised the firm’s price target on Marathon Petroleum Corporation (NYSE:MPC) to $130 from $126 and maintained an Overweight rating on the shares. The analyst predicts another quarter of high R&M earnings due to a favorable macroeconomic environment.

According to Insider Monkey’s data, 50 hedge funds were bullish on Marathon Petroleum Corporation (NYSE:MPC) as of the end of the third quarter of 2022, and Paul Singer’s Elliott Management is the leading position holder in the company, with 11 million shares worth $1 billion. 

Here is what Clark Street Value has to say about Marathon Petroleum Corporation (NYSE:MPC) in its Q4 2021 investor letter:

“During the worst of covid, I bought some LEAPs on Marathon Petroleum (MPC) as a proxy for Par Pacific (PARR) since long dated options weren’t available on the later.  Those MPC calls expire next month and I’ll take profits, with PARR I’ve reduced my position throughout the year and might sell the rest early next year, I’ve owned it for 6-7 years and it has gone nowhere, they haven’t touched the NOLs, just a difficult business that I probably don’t understand as well as I should.”

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