Ray Dalio is Buying These 5 Stocks in 2022

1. Marathon Petroleum Corporation (NYSE:MPC)

Number of Hedge Fund Holders: 41

Marathon Petroleum Corporation (NYSE:MPC) is an American integrated downstream energy company, offering petroleum, petrochemicals, and gasoline, as well as refining services. Ray Dalio’s Bridgewater Associates purchased 165,212 shares of Marathon Petroleum Corporation (NYSE:MPC) in Q1 2022, worth $14.12 million. 

Marathon Petroleum Corporation (NYSE:MPC) posted its Q1 financial results on May 3, reporting earnings per share of $1.45, exceeding market consensus estimates by $0.17. The revenue grew 67.75% year-over-year to $38.38 billion, surpassing analysts’ predictions by $5.92 billion. 

On April 27, Marathon Petroleum Corporation (NYSE:MPC) declared a quarterly dividend of $0.58 per share, in line with previous. The dividend is payable on June 10, to shareholders of the company as of May 18. Marathon Petroleum Corporation (NYSE:MPC) on May 20 delivered a dividend yield of 2.40%. 

JPMorgan analyst Phil Gresh raised the price target on Marathon Petroleum Corporation (NYSE:MPC) to $109 from $95 and reiterated an Overweight rating on the shares on May 17. The analyst lifted estimates and price targets for the refining group.

In Q1 2022, billionaire Paul Singer’s Elliott Management reported owning more than 11 million shares of Marathon Petroleum Corporation (NYSE:MPC), worth $946 million. Overall, 41 hedge funds were bullish on the stock at the end of December 2021. 

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.”

You can also take a look at 10 Dividend Stocks to Buy Now According to Billionaire Leon Cooperman and 10 Blue Chip Stocks in Warren Buffett’s Portfolio. 

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