Investec Asset Management LTD lessened its position in Marathon Oil Corporation (NYSE:MRO) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,791,928 shares of the oil and gas producer’s stock after selling 50,357 shares during the period. Investec Asset Management LTD owned 0.21% of Marathon Oil Corporation worth $21,234,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in Marathon Oil Corporation by 4,827.5% in the 1st quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock worth $1,693,396,000 after purchasing an additional 105,001,815 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its holdings in Marathon Oil Corporation by 0.3% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 733,564 shares of the oil and gas producer’s stock worth $8,693,000 after purchasing an additional 1,905 shares in the last quarter. Buckingham Asset Management LLC acquired a new position in Marathon Oil Corporation in the 2nd quarter worth about $173,000. Dupont Capital Management Corp acquired a new position in Marathon Oil Corporation in the 2nd quarter worth about $122,000. Finally, JPMorgan Chase & Co. increased its holdings in Marathon Oil Corporation by 39.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,709,387 shares of the oil and gas producer’s stock worth $55,805,000 after purchasing an additional 1,341,589 shares in the last quarter. 80.98% of the stock is owned by institutional investors and hedge funds.
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Marathon Oil Corporation (MRO) traded up 0.25% during mid-day trading on Tuesday, reaching $12.05. The company’s stock had a trading volume of 1,477,199 shares. The company has a 50-day moving average price of $11.59 and a 200-day moving average price of $13.32. Marathon Oil Corporation has a 12-month low of $10.55 and a 12-month high of $19.28. The firm’s market cap is $10.24 billion. Marathon Oil Corporation also was the target of some unusual options trading on Monday. Stock traders purchased 1,294 call options on the stock. This is an increase of 127% compared to the average volume of 569 call options.
Marathon Oil Corporation (NYSE:MRO) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company posted ($0.23) earnings per share. On average, equities research analysts expect that Marathon Oil Corporation will post ($0.46) earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, August 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.66%. Marathon Oil Corporation’s dividend payout ratio is presently -2.55%.
A number of brokerages have issued reports on MRO. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marathon Oil Corporation in a report on Saturday. Jefferies Group LLC set a $12.00 target price on Marathon Oil Corporation and gave the stock a “hold” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $20.00 target price on Marathon Oil Corporation and gave the stock a “buy” rating in a report on Friday, August 25th. BidaskClub cut Marathon Oil Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, KLR Group reaffirmed a “buy” rating and issued a $23.00 target price (up previously from $21.00) on shares of Marathon Oil Corporation in a report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.33.
Marathon Oil Corporation 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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