Wells Fargo & Company MN increased its stake in shares of Marathon Oil Co. (NYSE:MRO) by 26.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,756,299 shares of the oil and gas producer’s stock after buying an additional 575,567 shares during the period. Wells Fargo & Company MN owned 0.32% of Marathon Oil worth $57,496,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC acquired a new position in Marathon Oil during the 1st quarter valued at about $102,000. First Mercantile Trust Co. acquired a new position in Marathon Oil during the 2nd quarter valued at about $111,000. Cerebellum GP LLC lifted its position in Marathon Oil by 3,466.8% during the 2nd quarter. Cerebellum GP LLC now owns 8,489 shares of the oil and gas producer’s stock valued at $177,000 after purchasing an additional 8,251 shares during the period. Stelac Advisory Services LLC acquired a new position in Marathon Oil during the 1st quarter valued at about $147,000. Finally, Dupont Capital Management Corp lifted its position in Marathon Oil by 40.2% during the 1st quarter. Dupont Capital Management Corp now owns 9,859 shares of the oil and gas producer’s stock valued at $159,000 after purchasing an additional 2,829 shares during the period. Institutional investors and hedge funds own 81.32% of the company’s stock.
A number of research analysts have issued reports on the stock. Jefferies Financial Group restated a “hold” rating and set a $22.80 target price on shares of Marathon Oil in a research report on Wednesday. Zacks Investment Research upgraded shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Tuesday, July 31st. Mizuho assumed coverage on shares of Marathon Oil in a research report on Monday, July 23rd. They set a “neutral” rating and a $28.00 target price on the stock. Morgan Stanley assumed coverage on shares of Marathon Oil in a research report on Thursday, July 12th. They set an “equal weight” rating and a $23.00 target price on the stock. Finally, BMO Capital Markets restated a “hold” rating and set a $23.00 target price on shares of Marathon Oil in a research report on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.74.
Marathon Oil (NYSE:MRO) last announced its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Marathon Oil had a negative net margin of 3.03% and a positive return on equity of 2.25%. The business’s revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.24) earnings per share. analysts forecast that Marathon Oil Co. will post 0.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Wednesday, August 15th will be given a $0.05 dividend. The ex-dividend date is Tuesday, August 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.05%. Marathon Oil’s dividend payout ratio is -52.63%.
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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