First Manhattan Co. Has $275,000 Stake in Marathon Oil Co. (MRO)
First Manhattan Co. raised its position in Marathon Oil Co. (NYSE:MRO) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,423 shares of the oil and gas producer’s stock after buying an additional 450 shares during the period. First Manhattan Co.’s holdings in Marathon Oil were worth $275,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. increased its stake in Marathon Oil by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 22,594 shares of the oil and gas producer’s stock worth $334,000 after buying an additional 882 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in Marathon Oil by 28.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 63,441 shares of the oil and gas producer’s stock worth $1,002,000 after buying an additional 13,863 shares in the last quarter. OLD Point Trust & Financial Services N A increased its stake in Marathon Oil by 5.1% in the first quarter. OLD Point Trust & Financial Services N A now owns 130,653 shares of the oil and gas producer’s stock worth $2,064,000 after buying an additional 6,300 shares in the last quarter. Retirement Systems of Alabama increased its stake in Marathon Oil by 1.1% in the first quarter. Retirement Systems of Alabama now owns 720,439 shares of the oil and gas producer’s stock worth $11,383,000 after buying an additional 7,969 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Marathon Oil during the first quarter worth approximately $247,000. 81.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Marathon Oil Co. (NYSE:MRO) traded up 3.54% during trading on Friday, reaching $14.62. The company had a trading volume of 2,890,703 shares. The firm’s market capitalization is $12.43 billion. The firm has a 50-day moving average of $15.24 and a 200 day moving average of $16.18. Marathon Oil Co. has a 1-year low of $12.22 and a 1-year high of $19.28.
Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. Marathon Oil had a negative net margin of 32.98% and a negative return on equity of 4.91%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the firm posted ($0.43) EPS. The firm’s quarterly revenue was up 88.1% on a year-over-year basis. Analysts expect that Marathon Oil Co. will post ($0.17) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Wednesday, May 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, May 15th. Marathon Oil’s dividend payout ratio (DPR) is -9.26%.
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A number of brokerages have issued reports on MRO. Scotiabank set a $23.00 price objective on Marathon Oil and gave the company a “buy” rating in a research report on Tuesday. Jefferies Group LLC downgraded Marathon Oil from a “buy” rating to a “hold” rating and decreased their price objective for the company from $22.00 to $16.00 in a research report on Wednesday. FBR & Co restated a “buy” rating and set a $20.00 price objective on shares of Marathon Oil in a research report on Monday. BMO Capital Markets reiterated a “hold” rating and issued a $20.00 price target on shares of Marathon Oil in a report on Monday. Finally, Bank of America Corp downgraded Marathon Oil from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $22.00 in a report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $19.09.
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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