PineBridge Investments L.P. lowered its stake in shares of Marathon Oil Corp. (NYSE:MRO) by 61.5% during the second quarter, Holdings Channel reports. The firm owned 16,042 shares of the company’s stock after selling 25,600 shares during the period. PineBridge Investments L.P.’s holdings in Marathon Oil Corp. were worth $241,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of MRO. I.G. Investment Management LTD. bought a new position in Marathon Oil Corp. during the second quarter valued at approximately $101,000. Integrated Investment Consultants LLC increased its position in shares of Marathon Oil Corp. by 46.0% in the second quarter. Integrated Investment Consultants LLC now owns 7,092 shares of the company’s stock valued at $106,000 after buying an additional 2,234 shares in the last quarter. Hallmark Capital Management Inc. acquired a new position in shares of Marathon Oil Corp. during the second quarter valued at about $111,000. Exane Derivatives acquired a new position in shares of Marathon Oil Corp. during the second quarter valued at about $112,000. Finally, Advisors Asset Management Inc. increased its position in shares of Marathon Oil Corp. by 74.4% in the second quarter. Advisors Asset Management Inc. now owns 8,724 shares of the company’s stock valued at $131,000 after buying an additional 3,722 shares in the last quarter. 80.96% of the stock is owned by institutional investors.
Shares of Marathon Oil Corp. (NYSE:MRO) opened at 14.49 on Monday. The company’s market capitalization is $12.28 billion. The company has a 50-day moving average of $15.15 and a 200-day moving average of $13.61. Marathon Oil Corp. has a one year low of $6.52 and a one year high of $20.44.
Marathon Oil Corp. (NYSE:MRO) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.05. Marathon Oil Corp. had a negative net margin of 43.87% and a negative return on equity of 5.07%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm earned ($0.23) earnings per share. The business’s revenue for the quarter was down 15.0% on a year-over-year basis. On average, analysts anticipate that Marathon Oil Corp. will post ($0.98) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.38%. Marathon Oil Corp.’s payout ratio is presently -6.58%.
Several brokerages have recently issued reports on MRO. Royal Bank Of Canada reiterated a “hold” rating on shares of Marathon Oil Corp. in a research report on Saturday, July 9th. Piper Jaffray Cos. upgraded Marathon Oil Corp. from a “neutral” rating to an “overweight” rating and set a $16.00 price objective for the company in a research report on Tuesday, May 31st. Jefferies Group reiterated a “buy” rating and set a $17.00 price objective (up from $16.00) on shares of Marathon Oil Corp. in a research report on Monday, July 11th. Simmons upgraded Marathon Oil Corp. from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research report on Tuesday, May 31st. Finally, Bank of America Corp. began coverage on Marathon Oil Corp. in a research report on Tuesday, June 21st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $18.12.
Marathon Oil Corp. Company Profile
Marathon Oil Corporation is an exploration and production company with operations in North America, Europe and Africa. The Company operates through three segments: North America E&P (N.A. E&P), International E&P (Int’l E&P), and Oil Sands Mining (OSM). The N.A. 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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