Bessemer Group Inc. Raises Position in Marathon Oil Corporation (MRO)

Bessemer Group Inc. boosted its position in shares of Marathon Oil Corporation (NYSE:MRO) by 7.6% during the second quarter, Holdings Channel reports. The fund owned 202,297 shares of the oil and gas producer’s stock after buying an additional 14,263 shares during the period. Bessemer Group Inc.’s holdings in Marathon Oil Corporation were worth $2,397,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MRO. BlackRock Inc. raised its stake in shares of Marathon Oil Corporation by 4,827.5% in the first quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock worth $1,693,396,000 after buying an additional 105,001,815 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Marathon Oil Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 84,869,602 shares of the oil and gas producer’s stock worth $1,340,940,000 after buying an additional 2,870,533 shares during the last quarter. State Street Corp raised its stake in shares of Marathon Oil Corporation by 1.7% in the first quarter. State Street Corp now owns 48,712,386 shares of the oil and gas producer’s stock worth $769,660,000 after buying an additional 811,608 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Marathon Oil Corporation by 0.4% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 48,519,793 shares of the oil and gas producer’s stock worth $766,613,000 after buying an additional 187,090 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Marathon Oil Corporation by 8.9% in the first quarter. Geode Capital Management LLC now owns 8,359,359 shares of the oil and gas producer’s stock worth $131,890,000 after buying an additional 679,869 shares during the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.

Marathon Oil Corporation (NYSE:MRO) opened at 12.20 on Thursday. The firm’s market capitalization is $10.37 billion. Marathon Oil Corporation has a 12 month low of $11.20 and a 12 month high of $19.28. The stock’s 50 day moving average price is $11.89 and its 200-day moving average price is $14.34. Marathon Oil Corporation also saw some unusual options trading activity on Monday. Traders bought 1,294 call options on the company. This represents an increase of 127% compared to the average volume of 569 call options.

Marathon Oil Corporation (NYSE:MRO) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. Equities analysts forecast that Marathon Oil Corporation will post ($0.40) earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.64%. Marathon Oil Corporation’s dividend payout ratio is presently -2.55%.

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MRO has been the subject of a number of research reports. Zacks Investment Research upgraded Marathon Oil Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Citigroup Inc. upgraded Marathon Oil Corporation from a “neutral” rating to a “buy” rating and lowered their price target for the company from $19.00 to $15.00 in a report on Wednesday, July 5th. Scotiabank reiterated a “buy” rating and issued a $19.00 price target on shares of Marathon Oil Corporation in a report on Thursday, August 3rd. FBR & Co reiterated a “buy” rating and issued a $20.00 price target on shares of Marathon Oil Corporation in a report on Monday, May 15th. Finally, ValuEngine lowered Marathon Oil Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Marathon Oil Corporation currently has an average rating of “Hold” and a consensus price target of $17.30.

About Marathon Oil Corporation

Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America 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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Institutional Ownership by Quarter for Marathon Oil Corporation (NYSE:MRO)

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