Allianz Asset Management GmbH decreased its stake in shares of Marathon Oil Co. (NYSE:MRO) by 29.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,875,599 shares of the oil and gas producer’s stock after selling 1,202,980 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.35% of Marathon Oil worth $40,862,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. NuWave Investment Management LLC increased its position in Marathon Oil by 268.8% during the 2nd quarter. NuWave Investment Management 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. Semmax Financial Advisors Inc. increased its position in Marathon Oil by 181.1% during the 1st quarter. Semmax Financial Advisors Inc. now owns 1,855 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 1,195 shares during the period. Meridian Wealth Management LLC purchased a new position in Marathon Oil during the 1st quarter valued at about $33,000. Liberty Wealth Management LLC purchased a new position in Marathon Oil during the 2nd quarter valued at about $33,000. Finally, Osborn Williams & Donohoe LLC purchased a new position in Marathon Oil during the 1st quarter valued at about $34,000. Institutional investors own 84.31% of the company’s stock.
A number of research firms have commented on MRO. Royal Bank of Canada set a $21.00 target price on shares of Marathon Oil and gave the company a “buy” rating in a research report on Friday, August 9th. Capital One Financial raised shares of Marathon Oil from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Evercore ISI set a $21.00 target price on shares of Marathon Oil and gave the company a “hold” rating in a research report on Wednesday, August 7th. TheStreet downgraded shares of Marathon Oil from a “b-” rating to a “c+” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Co cut their target price on shares of Marathon Oil from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $22.06.
Shares of Marathon Oil stock opened at $12.20 on Friday. The firm’s 50 day moving average price is $13.00 and its 200-day moving average price is $15.08. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.41. Marathon Oil Co. has a 52-week low of $11.39 and a 52-week high of $24.20. The company has a market cap of $9.35 billion, a P/E ratio of 17.18, a PEG ratio of 2.13 and a beta of 2.25.
Marathon Oil (NYSE:MRO) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. Marathon Oil had a net margin of 16.15% and a return on equity of 6.32%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm earned $0.15 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Oil Co. will post 0.7 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, August 20th. Marathon Oil’s payout ratio is currently 28.17%.
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 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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