Laffer Investments Decreases Holdings in Marathon Oil Co. (MRO)
Laffer Investments cut its stake in shares of Marathon Oil Co. (NYSE:MRO) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 88,990 shares of the oil and gas producer’s stock after selling 6,320 shares during the period. Laffer Investments’ holdings in Marathon Oil were worth $1,207,000 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 business. California Public Employees Retirement System increased its stake in shares of Marathon Oil by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 2,368,770 shares of the oil and gas producer’s stock worth $32,121,000 after purchasing an additional 88,235 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Marathon Oil in the 3rd quarter worth $159,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Marathon Oil by 20.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 115,932 shares of the oil and gas producer’s stock worth $1,574,000 after purchasing an additional 19,404 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Marathon Oil by 759.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,416,384 shares of the oil and gas producer’s stock worth $19,199,000 after purchasing an additional 1,251,525 shares in the last quarter. Finally, Vident Investment Advisory LLC increased its stake in shares of Marathon Oil by 225.5% in the 3rd quarter. Vident Investment Advisory LLC now owns 38,340 shares of the oil and gas producer’s stock worth $520,000 after purchasing an additional 26,560 shares in the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.
MRO has been the subject of several analyst reports. Piper Jaffray Companies set a $20.00 price objective on Marathon Oil and gave the stock a “buy” rating in a research note on Friday, August 25th. Scotiabank set a $19.00 price objective on Marathon Oil and gave the stock a “buy” rating in a research note on Wednesday, October 4th. Societe Generale upgraded Marathon Oil from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Jefferies Group upped their price objective on Marathon Oil from $14.00 to $16.50 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Finally, Zacks Investment Research upgraded Marathon Oil from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday, November 6th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.56.
Marathon Oil (NYSE:MRO) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.06. Marathon Oil had a negative net margin of 148.07% and a negative return on equity of 3.02%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned ($0.23) EPS. The business’s revenue was up 26.5% on a year-over-year basis. equities research analysts expect that Marathon Oil Co. will post -0.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Tuesday, November 14th. Marathon Oil’s dividend payout ratio (DPR) is presently -2.40%.
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About Marathon Oil
Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.
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