New Mexico Educational Retirement Board lowered its stake in Marathon Oil Corporation (NYSE:MRO) by 8.0% during the second quarter, Holdings Channel reports. The institutional investor owned 78,971 shares of the oil and gas producer’s stock after selling 6,900 shares during the period. New Mexico Educational Retirement Board’s holdings in Marathon Oil Corporation were worth $966,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Klingenstein Fields & Co. LLC increased 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. Focused Wealth Management Inc increased its stake in shares of Marathon Oil Corporation by 0.7% in the first quarter. Focused Wealth Management Inc now owns 13,681 shares of the oil and gas producer’s stock valued at $216,000 after buying an additional 100 shares in the last quarter. Eastern Bank increased its stake in shares of Marathon Oil Corporation by 0.6% in the second quarter. Eastern Bank now owns 21,454 shares of the oil and gas producer’s stock valued at $254,000 after buying an additional 135 shares in the last quarter. Cleararc Capital Inc. increased its stake in shares of Marathon Oil Corporation by 0.7% in the first quarter. Cleararc Capital Inc. now owns 20,728 shares of the oil and gas producer’s stock valued at $328,000 after buying an additional 149 shares in the last quarter. Finally, Berkshire Asset Management LLC PA increased its stake in shares of Marathon Oil Corporation by 0.8% in the second quarter. Berkshire Asset Management LLC PA now owns 25,672 shares of the oil and gas producer’s stock valued at $304,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Marathon Oil Corporation (NYSE MRO) opened at 11.63 on Tuesday. The firm’s market capitalization is $9.88 billion. Marathon Oil Corporation has a 1-year low of $11.20 and a 1-year high of $19.28. The stock’s 50 day moving average is $11.92 and its 200-day moving average is $14.19.

Marathon Oil Corporation (NYSE:MRO) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share (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 the consensus estimate of $1.03 billion. Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. 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 business posted ($0.23) earnings per share. Equities research analysts forecast that Marathon Oil Corporation will post ($0.46) EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Monday, August 14th. Marathon Oil Corporation’s dividend payout ratio is currently -2.55%.

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Several brokerages have recently weighed in on MRO. Scotiabank set a $21.00 price objective on shares of Marathon Oil Corporation and gave the stock a “buy” rating in a research report on Saturday, May 6th. Morgan Stanley upgraded shares of Marathon Oil Corporation from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $17.00 to $14.00 in a research report on Wednesday, June 21st. Jefferies Group LLC set a $16.00 price objective on shares of Marathon Oil Corporation and gave the stock a “hold” rating in a research report on Saturday, June 24th. KLR Group restated a “buy” rating and set a $23.00 price objective (up previously from $21.00) on shares of Marathon Oil Corporation in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus restated a “hold” rating and set a $11.00 price objective on shares of Marathon Oil Corporation in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price 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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Institutional Ownership by Quarter for Marathon Oil Corporation (NYSE:MRO)

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