Gabelli Funds LLC Acquires 64,000 Shares of Marathon Oil Co. (MRO)
Gabelli Funds LLC grew its holdings in Marathon Oil Co. (NYSE:MRO) by 17.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 436,000 shares of the oil and gas producer’s stock after acquiring an additional 64,000 shares during the quarter. Gabelli Funds LLC owned 0.05% of Marathon Oil worth $9,095,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in MRO. Penserra Capital Management LLC acquired a new position in Marathon Oil in the first quarter valued at about $102,000. First Mercantile Trust Co. acquired a new position in Marathon Oil in the second quarter valued at about $111,000. Summit Trail Advisors LLC raised its stake in Marathon Oil by 1,935.8% in the first quarter. Summit Trail Advisors LLC now owns 128,030 shares of the oil and gas producer’s stock valued at $128,000 after purchasing an additional 121,741 shares in the last quarter. Stelac Advisory Services LLC acquired a new position in Marathon Oil in the first quarter valued at about $147,000. Finally, Dupont Capital Management Corp raised its stake in Marathon Oil by 40.2% in the first quarter. Dupont Capital Management Corp now owns 9,859 shares of the oil and gas producer’s stock valued at $159,000 after purchasing an additional 2,829 shares in the last quarter. 80.60% of the stock is owned by institutional investors.
A number of research analysts recently commented on the company. Mizuho assumed coverage on Marathon Oil in a research note on Monday, July 23rd. They issued a “neutral” rating and a $28.00 price target for the company. Morgan Stanley began coverage on Marathon Oil in a research note on Thursday, July 12th. They issued an “equal weight” rating and a $23.00 price target for the company. Zacks Investment Research raised Marathon Oil from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, July 31st. ValuEngine raised Marathon Oil from a “hold” rating to a “buy” rating in a research note on Monday, May 14th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $22.80 target price on shares of Marathon Oil in a research note on Wednesday, August 15th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.65.
Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, August 1st. The oil and gas producer reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.06). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Marathon Oil had a positive return on equity of 2.25% and a negative net margin of 3.03%. The firm’s revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) EPS. sell-side analysts predict that Marathon Oil Co. will post 0.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, August 14th. Marathon Oil’s dividend payout ratio (DPR) is currently -52.63%.
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 E&P and International E&P. 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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