Great Lakes Advisors LLC Sells 26,849 Shares of Marathon Oil Corp. (MRO)
Great Lakes Advisors LLC lowered its stake in shares of Marathon Oil Corp. (NYSE:MRO) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385,703 shares of the company’s stock after selling 26,849 shares during the period. Great Lakes Advisors LLC’s holdings in Marathon Oil Corp. were worth $6,098,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of MRO. Macquarie Group Ltd. raised its position in Marathon Oil Corp. by 0.5% in the second quarter. Macquarie Group Ltd. now owns 21,983,380 shares of the company’s stock valued at $329,971,000 after buying an additional 110,766 shares during the period. Hermes Investment Management Ltd. raised its position in Marathon Oil Corp. by 15.7% in the second quarter. Hermes Investment Management Ltd. now owns 2,202,572 shares of the company’s stock worth $33,061,000 after buying an additional 298,500 shares during the last quarter. Oxbow Advisors LLC acquired a new position in Marathon Oil Corp. during the second quarter worth approximately $2,948,000. British Columbia Investment Management Corp raised its position in Marathon Oil Corp. by 11.6% in the second quarter. British Columbia Investment Management Corp now owns 382,468 shares of the company’s stock worth $5,741,000 after buying an additional 39,861 shares during the last quarter. Finally, DG Capital Management Inc. acquired a new position in Marathon Oil Corp. during the second quarter worth approximately $798,000. Institutional investors own 81.77% of the company’s stock.
Shares of Marathon Oil Corp. (NYSE:MRO) traded up 20.80% during mid-day trading on Wednesday, hitting $18.06. 74,027,227 shares of the company’s stock traded hands. Marathon Oil Corp. has a 52 week low of $6.52 and a 52 week high of $18.55. The company’s market cap is $15.30 billion. The firm has a 50-day moving average of $14.78 and a 200 day moving average of $14.57.
Marathon Oil Corp. (NYSE:MRO) last announced its earnings results on Wednesday, November 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.09. Marathon Oil Corp. had a negative net margin of 32.98% and a negative return on equity of 4.91%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the business posted ($0.20) EPS. The business’s revenue was down 7.1% compared to the same quarter last year. Equities research analysts predict that Marathon Oil Corp. will post ($0.91) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Wednesday, November 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, November 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.11%. Marathon Oil Corp.’s dividend payout ratio is -9.26%.
A number of equities analysts have recently commented on MRO shares. Zacks Investment Research lowered Marathon Oil Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Jefferies Group reiterated a “buy” rating on shares of Marathon Oil Corp. in a research note on Thursday, August 4th. Barclays PLC lifted their price objective on Marathon Oil Corp. from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Simmons reiterated an “overweight” rating on shares of Marathon Oil Corp. in a research note on Thursday, August 11th. Finally, Bank of America Corp. upgraded Marathon Oil Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.90 to $21.00 in a research note on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Marathon Oil Corp. currently has an average rating of “Hold” and a consensus target price of $17.67.
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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