Fisher Asset Management LLC cut its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 21.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,964,315 shares of the oil and gas producer’s stock after selling 1,074,106 shares during the quarter. Fisher Asset Management LLC owned about 0.48% of Marathon Oil worth $56,333,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NuWave Investment Management LLC boosted its stake in shares of 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 worth $25,000 after acquiring an additional 1,285 shares in the last quarter. Semmax Financial Advisors Inc. grew its position in shares of 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 worth $31,000 after purchasing an additional 1,195 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Marathon Oil during the 1st quarter worth approximately $33,000. Osborn Williams & Donohoe LLC acquired a new stake in shares of Marathon Oil during the 1st quarter worth approximately $34,000. Finally, Moody National Bank Trust Division boosted its position in shares of Marathon Oil by 148.7% during the 1st quarter. Moody National Bank Trust Division now owns 2,873 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 1,718 shares in the last quarter. Institutional investors and hedge funds own 82.19% of the company’s stock.
Several analysts recently issued reports on the stock. TheStreet lowered shares of Marathon Oil from a “b-” rating to a “c+” rating in a research report on Wednesday, July 10th. Morgan Stanley reduced their price target on shares of Marathon Oil from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Co lowered their target price on shares of Marathon Oil from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. ValuEngine raised shares of Marathon Oil from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of Marathon Oil from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. One research 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 stock presently has an average rating of “Buy” and an average target price of $22.06.MRO traded up $0.43 during midday trading on Friday, hitting $12.45. The company had a trading volume of 10,436,300 shares, compared to its average volume of 12,104,350. Marathon Oil Co. has a 52 week low of $11.56 and a 52 week high of $24.20. The company has a quick ratio of 1.45, a current ratio of 1.09 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.35 and a beta of 2.25. The stock’s 50 day moving average price is $13.44 and its 200 day moving average price is $15.31.
Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.12. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.36 billion. Marathon Oil had a net margin of 16.15% and a return on equity of 6.32%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. Research analysts predict that Marathon Oil Co. will post 0.67 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Tuesday, August 20th. Marathon Oil’s dividend payout ratio is currently 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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