PNC Financial Services Group Inc. reduced its position in Marathon Oil Co. (NYSE:MRO) by 3.9% in the third quarter, Holdings Channel reports. The institutional investor owned 362,616 shares of the oil and gas producer’s stock after selling 14,742 shares during the period. PNC Financial Services Group Inc.’s holdings in Marathon Oil were worth $8,442,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. SCP Investment LP purchased a new position in Marathon Oil in the 2nd quarter valued at about $2,086,000. Centaurus Financial Inc. purchased a new position in Marathon Oil in the 2nd quarter valued at about $133,000. Qube Research & Technologies Ltd purchased a new position in Marathon Oil in the 2nd quarter valued at about $555,000. Riverhead Capital Management LLC boosted its position in Marathon Oil by 141.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 64,450 shares of the oil and gas producer’s stock valued at $1,345,000 after buying an additional 37,759 shares during the last quarter. Finally, Trillium Asset Management LLC purchased a new position in Marathon Oil in the 2nd quarter valued at about $3,160,000. 84.03% of the stock is owned by institutional investors.
A number of research firms have weighed in on MRO. JPMorgan Chase & Co. set a $27.00 price objective on shares of Marathon Oil and gave the company a “buy” rating in a research report on Monday, October 1st. They noted that the move was a valuation call. Piper Jaffray Companies reissued an “overweight” rating on shares of Marathon Oil in a research report on Friday, September 28th. ValuEngine raised shares of Marathon Oil from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Morgan Stanley upped their target price on shares of Marathon Oil from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, September 26th. Finally, Royal Bank of Canada set a $27.00 target price on shares of Marathon Oil and gave the company a “hold” rating in a research note on Thursday, September 20th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $23.77.
Shares of Marathon Oil stock opened at $16.69 on Friday. The stock has a market capitalization of $13.76 billion, a PE ratio of -43.92, a P/E/G ratio of 2.35 and a beta of 2.45. The company has a current ratio of 1.43, a quick ratio of 1.38 and a debt-to-equity ratio of 0.46. Marathon Oil Co. has a 1 year low of $14.27 and a 1 year high of $24.20.
Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, November 7th. The oil and gas producer reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.47 billion. Marathon Oil had a net margin of 10.94% and a return on equity of 4.47%. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) EPS. Sell-side analysts forecast that Marathon Oil Co. will post 0.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.20%. Marathon Oil’s dividend payout ratio (DPR) is presently -52.63%.
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Marathon Oil Profile
Marathon Oil Corporation operates as an energy company in the United States, Equatorial Guinea, the United Kingdom, and Libya. It operates in two segments, United States E&P and International E&P. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.
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