Wheatland Advisors Inc. decreased its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 5.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,891 shares of the oil and gas producer’s stock after selling 2,200 shares during the quarter. Wheatland Advisors Inc.’s holdings in Marathon Oil were worth $538,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Marathon Oil by 12.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,926,029 shares of the oil and gas producer’s stock worth $171,011,000 after purchasing an additional 1,328,679 shares during the period. Geode Capital Management LLC boosted its position in shares of Marathon Oil by 10.0% during the 4th quarter. Geode Capital Management LLC now owns 12,204,959 shares of the oil and gas producer’s stock valued at $174,746,000 after acquiring an additional 1,111,769 shares during the last quarter. Pennsylvania Trust Co bought a new position in shares of Marathon Oil during the 1st quarter valued at approximately $996,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Marathon Oil during the 1st quarter valued at approximately $933,000. Finally, Virginia Retirement Systems ET AL boosted its position in shares of Marathon Oil by 45.4% during the 1st quarter. Virginia Retirement Systems ET AL now owns 345,643 shares of the oil and gas producer’s stock valued at $5,776,000 after acquiring an additional 107,900 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.
A number of research firms have recently commented on MRO. Seaport Global Securities reiterated a “buy” rating on shares of Marathon Oil in a research report on Friday, June 21st. Morgan Stanley lowered their target price on Marathon Oil from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. TheStreet downgraded Marathon Oil from a “b-” rating to a “c+” rating in a research report on Wednesday, July 10th. ValuEngine upgraded Marathon Oil from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Evercore ISI set a $21.00 target price on Marathon Oil and gave the company a “hold” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $22.06.
Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.12. Marathon Oil had a return on equity of 6.32% and a net margin of 16.15%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the firm posted $0.15 EPS. Marathon Oil’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, research analysts expect that Marathon Oil Co. will post 0.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.20 annualized dividend and a yield of 1.70%. Marathon Oil’s payout ratio is presently 28.17%.
Marathon Oil Company 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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