California State Teachers Retirement System decreased its stake in shares of Marathon Oil Corporation (NYSE:MRO) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,566,967 shares of the oil and gas producer’s stock after selling 171,432 shares during the quarter. California State Teachers Retirement System owned about 0.18% of Marathon Oil Corporation worth $18,568,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Marathon Oil Corporation by 4,827.5% in the first quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock worth $1,693,396,000 after acquiring an additional 105,001,815 shares during the period. Vanguard Group Inc. grew its position in Marathon Oil Corporation by 2.1% during the second quarter. Vanguard Group Inc. now owns 86,677,815 shares of the oil and gas producer’s stock valued at $1,027,132,000 after buying an additional 1,808,213 shares during the period. Macquarie Group Ltd. grew its position in Marathon Oil Corporation by 112.6% during the second quarter. Macquarie Group Ltd. now owns 53,832,125 shares of the oil and gas producer’s stock valued at $637,911,000 after buying an additional 28,514,387 shares during the period. State Street Corp grew its position in Marathon Oil Corporation by 2.8% during the second quarter. State Street Corp now owns 50,063,249 shares of the oil and gas producer’s stock valued at $593,258,000 after buying an additional 1,350,863 shares during the period. Finally, Franklin Resources Inc. grew its position in Marathon Oil Corporation by 0.5% during the second quarter. Franklin Resources Inc. now owns 35,334,271 shares of the oil and gas producer’s stock valued at $418,709,000 after buying an additional 172,691 shares during the period. Institutional investors and hedge funds own 80.90% of the company’s stock.
Marathon Oil Corporation (NYSE MRO) traded down 0.553% during trading on Friday, hitting $13.485. 513,777 shares of the stock were exchanged. The stock’s 50 day moving average is $13.06 and its 200-day moving average is $12.92. The company’s market cap is $11.46 billion. Marathon Oil Corporation has a one year low of $10.55 and a one year high of $19.28.
Marathon Oil Corporation (NYSE:MRO) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. On average, equities research analysts expect that Marathon Oil Corporation will post ($0.42) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Tuesday, November 14th. Marathon Oil Corporation’s dividend payout ratio is presently -2.55%.
Several equities analysts have issued reports on MRO shares. Vetr downgraded shares of Marathon Oil Corporation from a “strong-buy” rating to a “buy” rating and set a $14.22 price objective on the stock. in a report on Monday, August 7th. Scotiabank reaffirmed a “buy” rating and set a $19.00 price objective on shares of Marathon Oil Corporation in a report on Thursday, August 3rd. Citigroup Inc. raised shares of Marathon Oil Corporation from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $19.00 to $15.00 in a research note on Wednesday, July 5th. KLR Group reissued a “buy” rating and issued a $23.00 price target (up from $21.00) on shares of Marathon Oil Corporation in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies set a $20.00 price target on shares of Marathon Oil Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.19.
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Marathon Oil Corporation Profile
Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.
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