Stack Financial Management Inc lowered its stake in Marathon Oil Co. (NYSE:MRO) by 2.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 896,340 shares of the oil and gas producer’s stock after selling 25,124 shares during the quarter. Marathon Oil accounts for 1.4% of Stack Financial Management Inc’s portfolio, making the stock its 27th biggest position. Stack Financial Management Inc owned 0.11% of Marathon Oil worth $12,737,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in MRO. Boston Partners lifted its position in Marathon Oil by 65.7% in the first quarter. Boston Partners now owns 12,677,229 shares of the oil and gas producer’s stock valued at $211,836,000 after purchasing an additional 5,025,433 shares during the last quarter. Marshall Wace North America L.P. lifted its position in Marathon Oil by 1,221.0% in the first quarter. Marshall Wace North America L.P. now owns 3,660,636 shares of the oil and gas producer’s stock valued at $61,170,000 after purchasing an additional 3,383,518 shares during the last quarter. BlackRock Inc. lifted its position in Marathon Oil by 4.2% in the first quarter. BlackRock Inc. now owns 71,239,026 shares of the oil and gas producer’s stock valued at $1,190,404,000 after purchasing an additional 2,893,945 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Marathon Oil by 12.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,926,029 shares of the oil and gas producer’s stock valued at $171,011,000 after purchasing an additional 1,328,679 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Marathon Oil by 872.4% in the first quarter. Assenagon Asset Management S.A. now owns 1,390,585 shares of the oil and gas producer’s stock valued at $23,237,000 after purchasing an additional 1,247,585 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.
Several brokerages have weighed in on MRO. ValuEngine upgraded Marathon Oil from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded Marathon Oil from a “buy” rating to a “hold” rating in a research report on Monday, April 22nd. Royal Bank of Canada upgraded Marathon Oil from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $22.00 to $23.00 in a report on Tuesday, April 16th. Morgan Stanley decreased their target price on Marathon Oil from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, Seaport Global Securities restated a “buy” rating on shares of Marathon Oil in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $22.36.
Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.12. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.36 billion. Marathon Oil had a return on equity of 6.32% and a net margin of 16.15%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS. Equities analysts anticipate that Marathon Oil Co. will post 0.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.55%. The ex-dividend date is Tuesday, August 20th. Marathon Oil’s dividend payout ratio is presently 28.17%.
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 and International. 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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