Marathon Oil Corporation Target of Unusually High Options Trading (MRO)
Marathon Oil Corporation (NYSE:MRO) was the target of some unusual options trading activity on Monday. Traders purchased 1,294 call options on the stock. This represents an increase of approximately 127% compared to the average volume of 569 call options.
Shares of Marathon Oil Corporation (NYSE MRO) opened at 12.42 on Thursday. The firm’s 50-day moving average is $11.58 and its 200-day moving average is $13.29. The stock’s market capitalization is $10.55 billion. Marathon Oil Corporation has a one year low of $10.55 and a one year high of $19.28.
Marathon Oil Corporation (NYSE:MRO) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.10). Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm posted ($0.23) earnings per share. The company’s revenue was down 4.0% compared to the same quarter last year. Equities research analysts forecast that Marathon Oil Corporation will post ($0.46) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Monday, August 14th. Marathon Oil Corporation’s payout ratio is presently -2.55%.
Large investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Marathon Oil Corporation by 4,827.5% during the 1st quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock worth $1,693,396,000 after buying an additional 105,001,815 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in shares of Marathon Oil Corporation by 0.3% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 733,564 shares of the oil and gas producer’s stock worth $8,693,000 after buying an additional 1,905 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Marathon Oil Corporation by 39.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,709,387 shares of the oil and gas producer’s stock worth $55,805,000 after buying an additional 1,341,589 shares during the period. Buckingham Asset Management LLC acquired a new position in shares of Marathon Oil Corporation during the 2nd quarter worth approximately $173,000. Finally, Dupont Capital Management Corp acquired a new position in shares of Marathon Oil Corporation during the 2nd quarter worth approximately $122,000. 80.98% of the stock is owned by institutional investors.
Several equities analysts have issued reports on MRO shares. Zacks Investment Research upgraded shares of Marathon Oil Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Citigroup Inc. upgraded shares of Marathon Oil Corporation from a “neutral” rating to a “buy” rating and lowered their target price for the company from $19.00 to $15.00 in a research note on Wednesday, July 5th. Scotiabank restated a “buy” rating and set a $19.00 target price on shares of Marathon Oil Corporation in a research note on Thursday, August 3rd. ValuEngine cut shares of Marathon Oil Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Vetr cut shares of Marathon Oil Corporation from a “strong-buy” rating to a “buy” rating and set a $14.22 target price on the stock. in a research note on Monday, August 7th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.33.
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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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