Hotchkis & Wiley Capital Management LLC trimmed its position in Marathon Oil Corporation (NYSE:MRO) by 22.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,424,658 shares of the oil and gas producer’s stock after selling 11,095,135 shares during the period. Marathon Oil Corporation makes up approximately 1.8% of Hotchkis & Wiley Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Hotchkis & Wiley Capital Management LLC owned 4.40% of Marathon Oil Corporation worth $443,482,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in Marathon Oil Corporation by 4,827.5% during the first quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock worth $1,693,396,000 after acquiring an additional 105,001,815 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its holdings in Marathon Oil Corporation by 0.3% during the second quarter. Chevy Chase Trust Holdings Inc. now owns 733,564 shares of the oil and gas producer’s stock worth $8,693,000 after acquiring an additional 1,905 shares in the last quarter. Buckingham Asset Management LLC bought a new stake in Marathon Oil Corporation during the second quarter worth about $173,000. Dupont Capital Management Corp bought a new stake in Marathon Oil Corporation during the second quarter worth about $122,000. Finally, JPMorgan Chase & Co. raised its holdings in Marathon Oil Corporation by 39.8% during the second quarter. JPMorgan Chase & Co. now owns 4,709,387 shares of the oil and gas producer’s stock worth $55,805,000 after acquiring an additional 1,341,589 shares in the last quarter. Institutional investors own 80.98% of the company’s stock.
Shares of Marathon Oil Corporation (MRO) traded up 0.59% during trading on Friday, reaching $12.00. 11,335,041 shares of the company traded hands. Marathon Oil Corporation has a 12-month low of $10.55 and a 12-month high of $19.28. The firm’s 50 day moving average is $11.60 and its 200-day moving average is $13.39. The stock’s market capitalization is $10.20 billion.
Marathon Oil Corporation (NYSE:MRO) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.10). Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted ($0.23) EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Marathon Oil Corporation will post ($0.46) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Wednesday, August 16th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.20 annualized dividend and a yield of 1.67%. Marathon Oil Corporation’s dividend payout ratio is currently -2.55%.
MRO has been the topic of a number of recent analyst reports. Scotiabank set a $19.00 price target on Marathon Oil Corporation and gave the stock a “buy” rating in a research report on Saturday, July 1st. Jefferies Group LLC set a $16.00 price target on Marathon Oil Corporation and gave the stock a “hold” rating in a research report on Saturday, June 24th. Morgan Stanley raised Marathon Oil Corporation from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $17.00 to $14.00 in a research report on Wednesday, June 21st. KLR Group reissued a “buy” rating and set a $23.00 price target (up previously from $21.00) on shares of Marathon Oil Corporation in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $20.00 price target on Marathon Oil Corporation and gave the stock a “hold” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $17.33.
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Marathon Oil Corporation Company Profile
Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.
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