Tortoise Capital Advisors L.L.C. increased its stake in Marathon Oil Co. (NYSE:MRO) by 43.1% in the second quarter, Holdings Channel reports. The institutional investor owned 152,015 shares of the oil and gas producer’s stock after acquiring an additional 45,800 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in Marathon Oil were worth $2,160,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. River Wealth Advisors LLC boosted its holdings in Marathon Oil by 3.8% in the second quarter. River Wealth Advisors LLC now owns 20,973 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 765 shares during the period. OLD National Bancorp IN boosted its holdings in Marathon Oil by 5.0% in the second quarter. OLD National Bancorp IN now owns 17,990 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 852 shares during the period. Piedmont Investment Advisors Inc. boosted its holdings in Marathon Oil by 7.2% in the first quarter. Piedmont Investment Advisors Inc. now owns 13,256 shares of the oil and gas producer’s stock worth $222,000 after purchasing an additional 894 shares during the period. Sanders Morris Harris LLC boosted its holdings in Marathon Oil by 3.4% in the second quarter. Sanders Morris Harris LLC now owns 30,000 shares of the oil and gas producer’s stock worth $426,000 after purchasing an additional 1,000 shares during the period. Finally, Hallmark Capital Management Inc. boosted its holdings in Marathon Oil by 8.9% in the second quarter. Hallmark Capital Management Inc. now owns 13,420 shares of the oil and gas producer’s stock worth $191,000 after purchasing an additional 1,100 shares during the period. Institutional investors and hedge funds own 82.89% of the company’s stock.
A number of equities analysts have commented on the stock. Evercore ISI set a $21.00 price objective on shares of Marathon Oil and gave the stock a “hold” rating in a report on Wednesday, August 7th. ValuEngine raised shares of Marathon Oil from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Wells Fargo & Co lifted their price objective on shares of Marathon Oil from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday. TheStreet downgraded shares of Marathon Oil from a “b-” rating to a “c+” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley decreased their price objective on shares of Marathon Oil from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. Marathon Oil currently has an average rating of “Buy” and an average price target of $22.13.
Marathon Oil (NYSE:MRO) last announced its quarterly 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. Marathon Oil had a net margin of 16.15% and a return on equity of 6.32%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Oil Co. will post 0.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Tuesday, August 20th. Marathon Oil’s dividend payout ratio (DPR) is 28.17%.
Marathon Oil Company 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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