Marathon Oil Corp. (MRO) Short Interest Update
Marathon Oil Corp. (NYSE:MRO) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 56,929,972 shares, an increase of 44.1% from the September 15th total of 39,495,797 shares. Approximately 6.7% of the company’s shares are sold short. Based on an average daily trading volume, of 19,355,778 shares, the short-interest ratio is currently 2.9 days.
Shares of Marathon Oil Corp. (NYSE:MRO) opened at 14.58 on Friday. The firm’s market cap is $12.35 billion. The firm has a 50 day moving average of $15.17 and a 200 day moving average of $14.06. Marathon Oil Corp. has a 52 week low of $6.52 and a 52 week high of $20.09.
Marathon Oil Corp. (NYSE:MRO) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.05. Marathon Oil Corp. had a negative net margin of 43.87% and a negative return on equity of 5.07%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business posted ($0.23) EPS. Marathon Oil Corp.’s revenue was down 15.0% compared to the same quarter last year. Equities analysts predict that Marathon Oil Corp. will post ($0.98) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. raised its position in Marathon Oil Corp. by 27.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,757,000 shares of the company’s stock worth $30,713,000 after buying an additional 597,531 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in Marathon Oil Corp. during the first quarter valued at about $826,000. State Street Corp raised its stake in Marathon Oil Corp. by 23.5% in the first quarter. State Street Corp now owns 43,544,730 shares of the company’s stock valued at $485,080,000 after buying an additional 8,286,018 shares in the last quarter. BB&T Securities LLC raised its stake in Marathon Oil Corp. by 66.4% in the first quarter. BB&T Securities LLC now owns 46,040 shares of the company’s stock valued at $512,000 after buying an additional 18,366 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in Marathon Oil Corp. during the first quarter valued at about $2,611,000. Institutional investors and hedge funds own 80.96% of the company’s stock.
A number of analysts have recently commented on MRO shares. Bank of America Corp. set a $21.00 price objective on Marathon Oil Corp. and gave the stock a “buy” rating in a report on Thursday, September 8th. Credit Suisse Group AG downgraded Marathon Oil Corp. from an “outperform” rating to a “neutral” rating and set a $19.00 price objective for the company. in a report on Monday, September 12th. Seaport Global Securities downgraded Marathon Oil Corp. from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a report on Tuesday, August 30th. Jefferies Group set a $18.00 price objective on Marathon Oil Corp. and gave the stock a “buy” rating in a report on Wednesday, September 7th. Finally, Zacks Investment Research raised shares of Marathon Oil Corp. from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $17.83.
About Marathon Oil Corp.
Marathon Oil Corporation is an exploration and production company with operations in North America, Europe and Africa. The Company operates through three segments: North America E&P (N.A. E&P), International E&P (Int’l E&P), and Oil Sands Mining (OSM). The N.A. 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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