Victory Capital Management Inc. lowered its stake in shares of Marathon Oil Corp. (NYSE:MRO) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 10,819 shares of the company’s stock after selling 367 shares during the period. Victory Capital Management Inc.’s holdings in Marathon Oil Corp. were worth $162,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. I.G. Investment Management LTD. purchased a new position in shares of Marathon Oil Corp. during the second quarter valued at $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. purchased a new position in shares of Marathon Oil Corp. during the second quarter valued at $111,000. Exane Derivatives purchased a new position in shares of Marathon Oil Corp. during the second quarter valued at $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 currently owned by institutional investors and hedge funds.
Marathon Oil Corp. (NYSE:MRO) traded up 4.61% on Wednesday, reaching $16.35. The company had a trading volume of 7,955,884 shares. The company’s 50-day moving average is $15.33 and its 200-day moving average is $13.86. Marathon Oil Corp. has a 52-week low of $6.52 and a 52-week high of $20.44. The company’s market capitalization is $13.85 billion.
Marathon Oil Corp. (NYSE:MRO) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.05. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.12 billion. Marathon Oil Corp. had a negative return on equity of 5.07% and a negative net margin of 43.87%. The firm’s revenue was down 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Equities analysts anticipate that Marathon Oil Corp. will post ($0.98) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Monday, August 15th. Marathon Oil Corp.’s payout ratio is currently -6.58%.
Several equities research analysts recently weighed in on the stock. Canaccord Genuity assumed coverage on shares of Marathon Oil Corp. in a research report on Friday, September 30th. They issued a “hold” rating and a $16.00 price target on the stock. Credit Suisse Group AG lowered shares of Marathon Oil Corp. from an “outperform” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Monday, September 12th. Societe Generale lowered shares of Marathon Oil Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 9th. Bank of America Corp. set a $21.00 target price on shares of Marathon Oil Corp. and gave the company a “buy” rating in a research note on Thursday, September 8th. Finally, Jefferies Group set a $18.00 target price on shares of Marathon Oil Corp. and gave the company a “buy” rating in a research note on Wednesday, September 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $18.02.
About Marathon Oil Corp.
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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