Oakbrook Investments LLC Grows Stake in Marathon Oil Co. (MRO)

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Oakbrook Investments LLC lifted its position in Marathon Oil Co. (NYSE:MRO) by 57.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,115 shares of the oil and gas producer’s stock after buying an additional 35,400 shares during the period. Oakbrook Investments LLC’s holdings in Marathon Oil were worth $2,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. State Treasurer State of Michigan lifted its position in Marathon Oil by 1.0% during the second quarter. State Treasurer State of Michigan now owns 252,640 shares of the oil and gas producer’s stock valued at $5,270,000 after purchasing an additional 2,500 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Marathon Oil by 11.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 26,361 shares of the oil and gas producer’s stock valued at $550,000 after purchasing an additional 2,676 shares in the last quarter. Twin Capital Management Inc. lifted its position in Marathon Oil by 1.1% during the second quarter. Twin Capital Management Inc. now owns 247,450 shares of the oil and gas producer’s stock valued at $5,162,000 after purchasing an additional 2,710 shares in the last quarter. BB&T Corp lifted its position in Marathon Oil by 11.8% during the third quarter. BB&T Corp now owns 26,558 shares of the oil and gas producer’s stock valued at $619,000 after purchasing an additional 2,811 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Marathon Oil by 3.7% during the second quarter. CIBC Asset Management Inc now owns 80,643 shares of the oil and gas producer’s stock valued at $1,682,000 after purchasing an additional 2,863 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

In other news, VP Thomas Mitchell Little sold 117,333 shares of Marathon Oil stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $20.69, for a total value of $2,427,619.77. Following the sale, the vice president now directly owns 394,569 shares of the company’s stock, valued at $8,163,632.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.40% of the company’s stock.

NYSE:MRO opened at $20.67 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The stock has a market cap of $17.55 billion, a price-to-earnings ratio of 64.22, a price-to-earnings-growth ratio of 1.63 and a beta of 2.40. Marathon Oil Co. has a 52 week low of $13.28 and a 52 week high of $24.20.

Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, August 1st. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm posted ($0.24) earnings per share. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, analysts predict that Marathon Oil Co. will post 0.76 earnings per share for the current fiscal year.

MRO has been the topic of a number of recent analyst reports. Mizuho initiated coverage on Marathon Oil in a report on Monday, July 23rd. They set a “neutral” rating and a $28.00 price target on the stock. Zacks Investment Research raised Marathon Oil from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Tuesday, July 31st. Morgan Stanley initiated coverage on Marathon Oil in a report on Thursday, July 12th. They set an “equal weight” rating and a $23.00 price target on the stock. Royal Bank of Canada set a $27.00 price target on Marathon Oil and gave the company a “hold” rating in a report on Thursday, September 20th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $22.80 price target on shares of Marathon Oil in a report on Wednesday, August 15th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $22.72.

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.

Further Reading: How to calculate the intrinsic value of a stock

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Institutional Ownership by Quarter for Marathon Oil (NYSE:MRO)

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