National Asset Management Inc. grew its stake in Marathon Oil Co. (NYSE:MRO) by 9.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,074 shares of the oil and gas producer’s stock after purchasing an additional 1,112 shares during the period. National Asset Management Inc.’s holdings in Marathon Oil were worth $186,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of MRO. NuWave Investment Management LLC increased its holdings in shares of Marathon Oil by 268.8% in the 2nd quarter. NuWave Investment Management LLC now owns 1,763 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 1,285 shares during the period. Semmax Financial Advisors Inc. grew its stake in Marathon Oil by 181.1% during the 1st quarter. Semmax Financial Advisors Inc. now owns 1,855 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 1,195 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in Marathon Oil during the 1st quarter worth $33,000. Liberty Wealth Management LLC purchased a new position in Marathon Oil during the 2nd quarter worth $33,000. Finally, Osborn Williams & Donohoe LLC purchased a new position in Marathon Oil during the 1st quarter worth $34,000. 84.31% of the stock is owned by hedge funds and other institutional investors.
Shares of MRO stock traded up $0.19 during trading hours on Wednesday, reaching $11.72. The company had a trading volume of 776,830 shares, compared to its average volume of 12,809,368. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.09. The stock has a fifty day moving average of $13.06 and a 200-day moving average of $15.11. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.15 and a beta of 2.25. Marathon Oil Co. has a 12-month low of $11.39 and a 12-month high of $24.20.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $0.05 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. Marathon Oil’s dividend payout ratio (DPR) is presently 28.17%.
A number of brokerages have commented on MRO. Seaport Global Securities reaffirmed a “buy” rating on shares of Marathon Oil in a research report on Friday, June 21st. Atlantic Securities cut Marathon Oil from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $20.50 to $15.00 in a report on Thursday, June 13th. Wells Fargo & Co decreased their price objective on Marathon Oil from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Royal Bank of Canada set a $21.00 price objective on Marathon Oil and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Evercore ISI set a $21.00 price objective on Marathon Oil and gave the company a “hold” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $22.06.
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.
Further Reading: Stock Split
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