Bank of Montreal Can bought a new stake in shares of Marathon Oil Corp. (NYSE:MRO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 612,846 shares of the company’s stock, valued at approximately $9,200,000.
Other hedge funds have also added to or reduced their stakes in the company. Integrated Investment Consultants LLC raised its stake in 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. Boothbay Fund Management LLC acquired a new stake in Marathon Oil Corp. during the first quarter valued at approximately $145,000. Advisor Partners LLC raised its stake in Marathon Oil Corp. by 42.7% in the first quarter. Advisor Partners LLC now owns 16,379 shares of the company’s stock valued at $182,000 after buying an additional 4,905 shares in the last quarter. TIAA CREF Trust Co. FSB MO acquired a new stake in Marathon Oil Corp. during the second quarter valued at approximately $202,000. Finally, Capital One National Association raised its stake in Marathon Oil Corp. by 2.5% in the second quarter. Capital One National Association now owns 14,100 shares of the company’s stock valued at $211,000 after buying an additional 350 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.
Marathon Oil Corp. (NYSE:MRO) traded down 0.25% during mid-day trading on Thursday, hitting $16.08. 13,514,864 shares of the company traded hands. The company’s 50-day moving average is $15.37 and its 200-day moving average is $13.89. The stock’s market capitalization is $13.62 billion. 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 issued its earnings results on Wednesday, August 3rd. The company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.05. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.12 billion. Marathon Oil Corp. had a negative net margin of 43.87% and a negative return on equity of 5.07%. The firm’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.23) earnings per share. Analysts predict that Marathon Oil Corp. will post ($0.98) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were given a dividend of $0.05 per share. The ex-dividend date was Monday, August 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.24%. Marathon Oil Corp.’s dividend payout ratio (DPR) is -6.58%.
Several research firms recently commented on MRO. Capital One Financial Corp. raised shares of Marathon Oil Corp. from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $15.00 to $17.00 in a research note on Tuesday, June 21st. Bank of America Corp. upgraded shares of Marathon Oil Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.90 to $21.00 in a report on Tuesday, August 16th. Royal Bank Of Canada boosted their price target on shares of Marathon Oil Corp. from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Friday, July 8th. Citigroup Inc. upgraded shares of Marathon Oil Corp. to a “strong-buy” rating and set a $18.00 price target on the stock in a report on Thursday, July 7th. Finally, Zacks Investment Research upgraded shares of Marathon Oil Corp. from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target 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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