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Envestnet Asset Management Inc. Has $15.44 Million Position in Marathon Oil Co. (NYSE:MRO)

By August 22, 2019 No Comments

Envestnet Asset Management Inc. grew its stake in Marathon Oil Co. (NYSE:MRO) by 258.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,086,457 shares of the oil and gas producer’s stock after purchasing an additional 783,334 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of Marathon Oil worth $15,439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of MRO. River Wealth Advisors LLC raised its holdings in Marathon Oil by 3.8% in the 2nd quarter. River Wealth Advisors LLC now owns 20,973 shares of the oil and gas producer’s stock valued at $298,000 after buying an additional 765 shares during the last quarter. OLD National Bancorp IN raised its holdings in Marathon Oil by 5.0% in the 2nd quarter. OLD National Bancorp IN now owns 17,990 shares of the oil and gas producer’s stock valued at $255,000 after buying an additional 852 shares during the last quarter. Renaissance Group LLC raised its holdings in Marathon Oil by 8.1% in the 1st quarter. Renaissance Group LLC now owns 11,647 shares of the oil and gas producer’s stock valued at $195,000 after buying an additional 868 shares during the last quarter. Piedmont Investment Advisors Inc. raised its holdings in Marathon Oil by 7.2% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 13,256 shares of the oil and gas producer’s stock valued at $222,000 after buying an additional 894 shares during the last quarter. Finally, Legacy Bridge LLC raised its holdings in Marathon Oil by 11.6% in the 1st quarter. Legacy Bridge LLC now owns 8,650 shares of the oil and gas producer’s stock valued at $145,000 after buying an additional 900 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Marathon Oil stock opened at $12.62 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.09. Marathon Oil Co. has a 52-week low of $11.56 and a 52-week high of $24.20. The firm has a 50 day moving average price of $13.31 and a two-hundred day moving average price of $15.25. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 2.38 and a beta of 2.25.

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 (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $0.15 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts predict that Marathon Oil Co. will post 0.68 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 20th. This represents a $0.20 annualized dividend and a yield of 1.58%. Marathon Oil’s payout ratio is 28.17%.

MRO has been the subject of a number of research reports. ValuEngine upgraded shares of Marathon Oil from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley dropped their price objective on shares of Marathon Oil from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Wells Fargo & Co dropped their price objective on shares of Marathon Oil from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Atlantic Securities lowered shares of Marathon Oil from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $20.50 to $15.00 in a report on Thursday, June 13th. Finally, Capital One Financial upgraded shares of Marathon Oil from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $22.06.

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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Institutional Ownership by Quarter for Marathon Oil (NYSE:MRO)

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