October 8, 2019 - 12:34 PM EDT
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The Wild Reason Shares of Marathon Petroleum Jumped 23.5% in September

Shares of Marathon Petroleum (NYSE: MPC) were up 23.5% in September according to data provided by S&P Global Market Intelligence. That was more than enough to erase the stock's big losses in August, and it put shares into positive territory for the year to date. Shares are still lagging the rest of the oil and gas refining and marketing sector, as measured by the S&P Oil and Gas Refining & Marketing Sub-Industry Index.

The big catalyst for the reversal in Marathon's fortunes, was, unusually, a signal from some of the company's major shareholders that they'd had enough of the underperformance. 

Elliott Management Fund, which owns about 2.5% of Marathon's stock, unveiled a plan to break up Marathon on September 24. The plan consisted of a letter to the company's board of directors, together with a presentation and a website to host the effort.

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Source: Motley Fool (October 8, 2019 - 12:34 PM EDT)

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