Public Employees Retirement System of Ohio cut its holdings in Marathon Oil Co. (NYSE:MRO) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 271,194 shares of the oil and gas producer’s stock after selling 4,521 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Marathon Oil were worth $3,328,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Rational Advisors LLC grew its position in shares of Marathon Oil by 268.8% in the second quarter. Rational Advisors LLC now owns 1,763 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 1,285 shares during the period. North Star Investment Management Corp. acquired a new position in Marathon Oil in the 3rd quarter valued at $25,000. Wealthcare Advisory Partners LLC raised its stake in Marathon Oil by 356.2% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,299 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 1,795 shares during the last quarter. Liberty Wealth Management LLC purchased a new position in Marathon Oil in the 2nd quarter valued at $33,000. Finally, NuWave Investment Management LLC lifted its holdings in Marathon Oil by 78.0% in the 3rd quarter. NuWave Investment Management LLC now owns 3,138 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 1,375 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on MRO shares. Citigroup started coverage on shares of Marathon Oil in a report on Monday, September 23rd. They set a “neutral” rating and a $13.00 target price for the company. Wells Fargo & Co raised their price target on shares of Marathon Oil from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Morgan Stanley lowered their price target on shares of Marathon Oil from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, October 4th. Guggenheim initiated coverage on shares of Marathon Oil in a research note on Tuesday, November 26th. They set a “neutral” rating for the company. Finally, Tudor Pickering downgraded shares of Marathon Oil from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Tuesday, September 24th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $19.86.
Marathon Oil stock opened at $12.04 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $11.94 and a 200 day moving average price of $12.80. Marathon Oil Co. has a 12-month low of $11.06 and a 12-month high of $18.93. The stock has a market cap of $9.74 billion, a P/E ratio of 16.96, a PEG ratio of 2.18 and a beta of 2.31.
Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.10. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.26 billion. Marathon Oil had a net margin of 15.51% and a return on equity of 5.56%. Marathon Oil’s revenue was down 19.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS. As a group, analysts forecast that Marathon Oil Co. will post 0.69 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Tuesday, November 19th. Marathon Oil’s dividend payout ratio is presently 28.17%.
Marathon Oil 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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