Virginia Retirement Systems ET AL Decreases Position in Marathon Oil Corporation (MRO)
Virginia Retirement Systems ET AL trimmed its position in shares of Marathon Oil Corporation (NYSE:MRO) by 21.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 268,257 shares of the oil and gas producer’s stock after selling 72,677 shares during the period. Virginia Retirement Systems ET AL’s holdings in Marathon Oil were worth $3,638,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Marathon Oil by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 86,677,815 shares of the oil and gas producer’s stock valued at $1,027,132,000 after buying an additional 1,808,213 shares in the last quarter. Macquarie Group Ltd. increased its stake in Marathon Oil by 1.3% in the 3rd quarter. Macquarie Group Ltd. now owns 54,525,491 shares of the oil and gas producer’s stock worth $739,367,000 after purchasing an additional 693,366 shares during the period. State Street Corp increased its stake in Marathon Oil by 2.8% in the 2nd quarter. State Street Corp now owns 50,063,249 shares of the oil and gas producer’s stock worth $593,258,000 after purchasing an additional 1,350,863 shares during the period. Franklin Resources Inc. increased its stake in Marathon Oil by 0.5% in the 2nd quarter. Franklin Resources Inc. now owns 35,334,271 shares of the oil and gas producer’s stock worth $418,709,000 after purchasing an additional 172,691 shares during the period. Finally, Northern Trust Corp increased its stake in Marathon Oil by 2.3% in the 2nd quarter. Northern Trust Corp now owns 10,143,987 shares of the oil and gas producer’s stock worth $120,207,000 after purchasing an additional 228,780 shares during the period. 80.66% of the stock is currently owned by institutional investors.
Shares of Marathon Oil Corporation (NYSE:MRO) opened at $15.08 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 2.02. Marathon Oil Corporation has a 1-year low of $10.55 and a 1-year high of $19.28.
Marathon Oil (NYSE:MRO) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.06. Marathon Oil had a negative return on equity of 3.02% and a negative net margin of 148.07%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted ($0.23) earnings per share. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. analysts anticipate that Marathon Oil Corporation will post -0.35 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Wednesday, November 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.33%. The ex-dividend date is Tuesday, November 14th. Marathon Oil’s dividend payout ratio (DPR) is -2.40%.
A number of equities analysts have commented on MRO shares. Barclays set a $11.00 price target on Marathon Oil and gave the stock a “hold” rating in a research note on Friday, August 4th. BidaskClub raised Marathon Oil from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Vetr cut Marathon Oil 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. Jefferies Group reissued a “hold” rating and set a $14.00 target price (up from $13.00) on shares of Marathon Oil in a research note on Wednesday, August 9th. Finally, KLR Group reissued a “buy” rating and set a $23.00 target price (up from $21.00) on shares of Marathon Oil in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. Marathon Oil presently has a consensus rating of “Hold” and a consensus target price of $16.90.
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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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