Bank of New York Mellon Corp boosted its position in shares of Marathon Oil Co. (NYSE:MRO) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,735,200 shares of the oil and gas producer’s stock after purchasing an additional 59,160 shares during the period. Bank of New York Mellon Corp’s holdings in Marathon Oil were worth $161,356,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MRO. Millennium Management LLC grew its holdings in Marathon Oil by 17.0% during the 1st quarter. Millennium Management LLC now owns 21,759,825 shares of the oil and gas producer’s stock worth $350,986,000 after acquiring an additional 3,163,372 shares in the last quarter. Boston Partners grew its holdings in Marathon Oil by 474.2% during the 2nd quarter. Boston Partners now owns 20,245,111 shares of the oil and gas producer’s stock worth $422,312,000 after acquiring an additional 16,719,492 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Marathon Oil by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,981,571 shares of the oil and gas producer’s stock worth $128,743,000 after acquiring an additional 405,788 shares in the last quarter. Prudential Financial Inc. grew its holdings in Marathon Oil by 254.5% during the 1st quarter. Prudential Financial Inc. now owns 4,293,509 shares of the oil and gas producer’s stock worth $69,254,000 after acquiring an additional 3,082,361 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Marathon Oil by 4.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 4,162,611 shares of the oil and gas producer’s stock worth $67,143,000 after acquiring an additional 164,161 shares in the last quarter. 81.32% of the stock is owned by institutional investors and hedge funds.
Marathon Oil stock opened at $19.83 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 1.51. Marathon Oil Co. has a 1 year low of $10.55 and a 1 year high of $22.74. The stock has a market capitalization of $17.41 billion, a PE ratio of -52.18, a price-to-earnings-growth ratio of 1.56 and a beta of 2.37.
Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.06). Marathon Oil had a positive return on equity of 2.25% and a negative net margin of 3.03%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business posted ($0.24) earnings per share. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. research analysts expect that Marathon Oil Co. will post 0.85 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th will be given a $0.05 dividend. The ex-dividend date is Tuesday, August 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.01%. Marathon Oil’s payout ratio is currently -52.63%.
MRO has been the subject of several recent analyst reports. BMO Capital Markets reissued a “hold” rating and set a $23.00 price objective on shares of Marathon Oil in a report on Tuesday, July 10th. Zacks Investment Research raised shares of Marathon Oil from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a report on Wednesday, July 4th. Tudor Pickering raised shares of Marathon Oil from a “hold” rating to a “buy” rating in a report on Friday, June 8th. Stifel Nicolaus set a $18.00 price objective on shares of Marathon Oil and gave the stock a “hold” rating in a report on Monday, April 23rd. Finally, ValuEngine lowered shares of Marathon Oil from a “buy” rating to a “hold” rating in a report on Thursday, July 5th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Marathon Oil has an average rating of “Buy” and an average price target of $20.74.
About Marathon Oil
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 E&P and International E&P. 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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