D. E. Shaw & Co. Inc. raised its stake in shares of Marathon Oil Co. (NYSE:MRO) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,185,706 shares of the oil and gas producer’s stock after acquiring an additional 312,035 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Marathon Oil were worth $102,109,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Point72 Hong Kong Ltd raised its stake in Marathon Oil by 288.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 32,688 shares of the oil and gas producer’s stock valued at $464,000 after acquiring an additional 24,269 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in Marathon Oil by 43.1% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 152,015 shares of the oil and gas producer’s stock valued at $2,160,000 after acquiring an additional 45,800 shares during the last quarter. Zurich Insurance Group Ltd FI raised its stake in Marathon Oil by 4.1% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 269,050 shares of the oil and gas producer’s stock valued at $3,823,000 after acquiring an additional 10,529 shares during the last quarter. BP Capital Fund Advisors LLC raised its stake in Marathon Oil by 16.9% during the 2nd quarter. BP Capital Fund Advisors LLC now owns 159,147 shares of the oil and gas producer’s stock valued at $2,261,000 after acquiring an additional 23,000 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in Marathon Oil during the 2nd quarter valued at approximately $831,000. 82.89% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on MRO. TheStreet downgraded Marathon Oil from a “b-” rating to a “c+” rating in a research note on Wednesday, July 10th. Wells Fargo & Co increased their target price on Marathon Oil from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday. Seaport Global Securities reissued a “buy” rating on shares of Marathon Oil in a research note on Friday, June 21st. Evercore ISI set a $21.00 target price on Marathon Oil and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley cut their target price on Marathon Oil from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $22.13.
Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Marathon Oil had a return on equity of 6.32% and a net margin of 16.15%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, sell-side analysts anticipate that Marathon Oil Co. will post 0.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Tuesday, August 20th. Marathon Oil’s dividend payout ratio is currently 28.17%.
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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