Pictet Asset Management Ltd. lowered its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,520 shares of the oil and gas producer’s stock after selling 22,700 shares during the period. Pictet Asset Management Ltd.’s holdings in Marathon Oil were worth $5,677,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. NuWave Investment Management LLC increased its position in shares of Marathon Oil by 268.8% during 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 purchasing an additional 1,285 shares during the period. Rational Advisors LLC increased its position in shares of Marathon Oil by 268.8% during the 2nd quarter. Rational Advisors LLC now owns 1,763 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 1,285 shares during the period. Semmax Financial Advisors Inc. increased its position in shares of 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 valued at $31,000 after purchasing an additional 1,195 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of Marathon Oil during the 1st quarter valued at $33,000. Finally, Liberty Wealth Management LLC acquired a new position in shares of Marathon Oil during the 2nd quarter valued at $33,000. 82.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MRO stock traded down $0.91 on Tuesday, reaching $13.26. 6,511,467 shares of the company’s stock traded hands, compared to its average volume of 9,775,872. Marathon Oil Co. has a 12-month low of $11.39 and a 12-month high of $24.20. 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 company has a market capitalization of $10.21 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 2.30 and a beta of 2.27. The business’s 50 day moving average price is $12.59 and its two-hundred day moving average price is $14.73.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.51%. Marathon Oil’s dividend payout ratio is 28.17%.
A number of equities analysts recently issued reports on the company. TheStreet cut Marathon Oil from a “b-” rating to a “c+” rating in a report on Wednesday, July 10th. Atlantic Securities cut Marathon Oil from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $20.50 to $15.00 in a report on Thursday, June 13th. Morgan Stanley decreased their target price on Marathon Oil from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada set a $21.00 target price on Marathon Oil and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Evercore ISI set a $21.00 target price on Marathon Oil and gave the stock a “hold” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. Marathon Oil presently 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.
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