Marathon Oil Corporation (MRO) Shares Bought by CIBC Asset Management Inc
CIBC Asset Management Inc raised its stake in shares of Marathon Oil Corporation (NYSE:MRO) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,334 shares of the oil and gas producer’s stock after buying an additional 257 shares during the period. CIBC Asset Management Inc’s holdings in Marathon Oil Corporation were worth $964,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in MRO. Advisory Services Network LLC acquired a new stake in shares of Marathon Oil Corporation during the first quarter valued at about $103,000. Integrated Investment Consultants LLC raised its stake in shares of Marathon Oil Corporation by 33.8% in the second quarter. Integrated Investment Consultants LLC now owns 9,054 shares of the oil and gas producer’s stock valued at $107,000 after buying an additional 2,287 shares in the last quarter. IBM Retirement Fund acquired a new stake in shares of Marathon Oil Corporation during the second quarter valued at about $149,000. Exane Derivatives raised its stake in shares of Marathon Oil Corporation by 38.9% in the first quarter. Exane Derivatives now owns 9,907 shares of the oil and gas producer’s stock valued at $157,000 after buying an additional 2,775 shares in the last quarter. Finally, Klingenstein Fields & Co. LLC raised its stake in shares of Marathon Oil Corporation by 0.8% in the first quarter. Klingenstein Fields & Co. LLC now owns 10,083 shares of the oil and gas producer’s stock valued at $159,000 after buying an additional 83 shares in the last quarter. 81.28% of the stock is owned by hedge funds and other institutional investors.
Shares of Marathon Oil Corporation (NYSE MRO) opened at 12.12 on Friday. Marathon Oil Corporation has a 12 month low of $11.20 and a 12 month high of $19.28. The company’s market cap is $10.30 billion. The stock’s 50 day moving average price is $11.92 and its 200-day moving average price is $14.28.
Marathon Oil Corporation (NYSE:MRO) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.23) EPS. Equities research analysts expect that Marathon Oil Corporation will post ($0.45) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Monday, August 14th. Marathon Oil Corporation’s dividend payout ratio (DPR) is -2.55%.
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Several research analysts have recently weighed in on the company. Jefferies Group LLC downgraded Marathon Oil Corporation from a “buy” rating to a “hold” rating and cut their price target for the stock from $22.00 to $16.00 in a research note on Wednesday, May 17th. FBR & Co reiterated a “buy” rating and set a $20.00 price target on shares of Marathon Oil Corporation in a research note on Tuesday, May 23rd. Morgan Stanley upgraded Marathon Oil Corporation from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $17.00 to $14.00 in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) assumed coverage on Marathon Oil Corporation in a research note on Wednesday, June 28th. They set a “neutral” rating and a $16.00 price target for the company. Finally, Barclays PLC reiterated a “hold” rating and set a $15.00 price target (down previously from $17.00) on shares of Marathon Oil Corporation in a research note on Thursday, April 20th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the stock. Marathon Oil Corporation has a consensus rating of “Hold” and a consensus price target of $17.30.
About Marathon Oil Corporation
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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