Refining giant Marathon Petroleum (NYSE: MPC) has done an exceptional job creating value for investors since its separation from oil and gas producer Marathon Oil (NYSE: MRO) in 2012. Shares are up more than 200% since then, while the company's total return after adding in the dividend is now nearly 280%. That has crushed the S&P 500's 177% total return over that time.
However, despite Marathon's excellent track record of creating shareholder value, at least one investor -- hedge fund Elliott Management -- believes it's leaving a substantial amount of money on the table. That's why Elliott is pressing Marathon to make changes it believes could unlock the latter's full potential. In Elliott's view, Marathon's shares could more than double in value.
Image source: Getty Images.