Federated Investors Inc. PA raised its position in Marathon Oil (NYSE:MRO) by 80.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,058,770 shares of the oil and gas producer’s stock after purchasing an additional 919,424 shares during the quarter. Federated Investors Inc. PA owned 0.24% of Marathon Oil worth $33,208,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MRO. Franklin Resources Inc. increased its position in shares of Marathon Oil by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 29,310,818 shares of the oil and gas producer’s stock worth $496,234,000 after acquiring an additional 162,885 shares during the period. Millennium Management LLC increased its position in shares of Marathon Oil by 82.1% during the fourth quarter. Millennium Management LLC now owns 18,596,453 shares of the oil and gas producer’s stock worth $314,838,000 after acquiring an additional 8,385,155 shares during the period. Geode Capital Management LLC increased its position in shares of Marathon Oil by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 10,149,471 shares of the oil and gas producer’s stock worth $171,516,000 after acquiring an additional 703,502 shares during the period. Bank of New York Mellon Corp increased its position in shares of Marathon Oil by 12.3% during the fourth quarter. Bank of New York Mellon Corp now owns 7,971,784 shares of the oil and gas producer’s stock worth $134,962,000 after acquiring an additional 874,640 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Marathon Oil by 254.5% during the first 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 during the period. 79.12% of the stock is currently owned by institutional investors.
Marathon Oil opened at $21.63 on Thursday, Marketbeat.com reports. The firm has a market capitalization of $18.38 billion, a P/E ratio of -56.92, a price-to-earnings-growth ratio of 2.11 and a beta of 2.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.46 and a current ratio of 1.52. Marathon Oil has a 12 month low of $10.55 and a 12 month high of $22.12.
Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, May 2nd. The oil and gas producer reported $0.18 EPS for the quarter, beating the consensus estimate of $0.14 by $0.04. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.36 billion. Marathon Oil had a negative return on equity of 0.50% and a negative net margin of 7.56%. Marathon Oil’s revenue for the quarter was up 61.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.07) earnings per share. analysts predict that Marathon Oil will post 0.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Wednesday, May 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.92%. The ex-dividend date is Tuesday, May 15th. Marathon Oil’s dividend payout ratio (DPR) is presently -52.63%.
In other Marathon Oil news, insider Lee M. Tillman sold 400,000 shares of the company’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $21.65, for a total value of $8,660,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.
A number of analysts have recently weighed in on MRO shares. Morgan Stanley upped their price objective on Marathon Oil from $15.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Stifel Nicolaus set a $18.00 price objective on Marathon Oil and gave the stock a “hold” rating in a research report on Tuesday, January 30th. Wolfe Research lowered Marathon Oil from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 30th. Zacks Investment Research lowered Marathon Oil from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, R. F. Lafferty reaffirmed a “buy” rating and set a $27.00 price objective (up previously from $26.00) on shares of Marathon Oil in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.45.
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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