Marathon Oil Co. (MRO) Holdings Cut by Federated Investors Inc. PA
Federated Investors Inc. PA lessened its holdings in Marathon Oil Co. (NYSE:MRO) by 73.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 541,733 shares of the oil and gas producer’s stock after selling 1,517,037 shares during the period. Federated Investors Inc. PA owned about 0.06% of Marathon Oil worth $11,301,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. grew its position in Marathon Oil by 1.3% in the second quarter. BlackRock Inc. now owns 68,516,539 shares of the oil and gas producer’s stock valued at $1,429,255,000 after acquiring an additional 873,896 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Marathon Oil by 17.0% during the first quarter. Millennium Management LLC now owns 21,759,825 shares of the oil and gas producer’s stock worth $350,986,000 after purchasing an additional 3,163,372 shares during the last quarter. Boston Partners grew its holdings in shares of Marathon Oil by 474.2% during the second quarter. Boston Partners now owns 20,245,111 shares of the oil and gas producer’s stock worth $422,312,000 after purchasing an additional 16,719,492 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Marathon Oil by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 8,886,008 shares of the oil and gas producer’s stock worth $185,354,000 after purchasing an additional 904,437 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Marathon Oil by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 7,735,200 shares of the oil and gas producer’s stock worth $161,356,000 after purchasing an additional 59,160 shares during the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.
Several analysts have recently weighed in on the company. Mizuho assumed coverage on Marathon Oil in a report on Monday, July 23rd. They set a “neutral” rating and a $28.00 price target on the stock. Morgan Stanley assumed coverage on Marathon Oil in a report on Thursday, July 12th. They set an “equal weight” rating and a $23.00 price target on the stock. Zacks Investment Research upgraded Marathon Oil from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Tuesday, July 31st. ValuEngine upgraded Marathon Oil from a “hold” rating to a “buy” rating in a report on Monday, May 14th. Finally, Jefferies Financial Group restated a “hold” rating and set a $22.80 price target on shares of Marathon Oil in a report on Wednesday, August 15th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Marathon Oil currently has an average rating of “Buy” and an average price target of $21.65.
Marathon Oil (NYSE:MRO) last announced 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). Marathon Oil had a negative net margin of 3.03% and a positive return on equity of 2.25%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company earned ($0.24) earnings per share. The business’s revenue was up 33.8% on a year-over-year basis. sell-side analysts anticipate that Marathon Oil Co. will post 0.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Wednesday, August 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.95%. The ex-dividend date is Tuesday, August 14th. Marathon Oil’s payout ratio is presently -52.63%.
Marathon Oil 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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