MPLX - 22% Return Per Year Since 2012 - How Unstoppable Is Marathon Petroleum?

2024-02-20 15:56:19 ET

Summary

• Asset managers are heavily invested in the market, comparable to previous stock market peaks.
• Marathon Petroleum, a major player in the downstream energy sector, has seen strong financial performance and shareholder value.
• The company anticipates continued robust demand for oil, favorable refining margins, and plans to invest in low-carbon initiatives.

Introduction

In the current market, it seems that "everyone" is bullish. I don't even know what a very steep down day feels like anymore.

All kidding aside, looking at CME Group's ( CME ) Commitment of Traders report below, we see that asset managers are very long the e-mini, the most traded S&P 500 future.

Although we aren't at record levels, the current positioning is comparable to 2021, 2019, and multiple short-term stock market peaks going back to 2006....

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