Bank of New York Mellon Corp decreased its position in shares of Marathon Oil Corporation (NYSE:MRO) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,314,725 shares of the oil and gas producer’s stock after selling 425,149 shares during the period. Bank of New York Mellon Corp owned approximately 0.86% of Marathon Oil Corporation worth $86,682,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Dupont Capital Management Corp purchased a new stake in Marathon Oil Corporation during the second quarter worth approximately $122,000. CCM Investment Advisers LLC raised its stake in Marathon Oil Corporation by 24.7% in the second quarter. CCM Investment Advisers LLC now owns 403,883 shares of the oil and gas producer’s stock worth $4,786,000 after buying an additional 79,982 shares in the last quarter. Rhumbline Advisers raised its stake in Marathon Oil Corporation by 0.9% in the second quarter. Rhumbline Advisers now owns 1,482,176 shares of the oil and gas producer’s stock worth $17,564,000 after buying an additional 13,613 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in Marathon Oil Corporation during the second quarter worth approximately $11,424,000. Finally, Arizona State Retirement System raised its stake in Marathon Oil Corporation by 0.5% in the second quarter. Arizona State Retirement System now owns 210,814 shares of the oil and gas producer’s stock worth $2,498,000 after buying an additional 1,100 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Marathon Oil Corporation (NYSE:MRO) opened at 11.05 on Monday. The company has a 50-day moving average price of $11.75 and a 200-day moving average price of $13.85. Marathon Oil Corporation has a 12-month low of $10.55 and a 12-month high of $19.28. The firm’s market cap is $9.39 billion.

Marathon Oil Corporation (NYSE:MRO) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share 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 the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned ($0.23) EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts predict that Marathon Oil Corporation will post ($0.44) earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.81%. Marathon Oil Corporation’s dividend payout ratio (DPR) is currently -2.55%.

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A number of analysts have commented on the stock. Piper Jaffray Companies set a $20.00 price objective on shares of Marathon Oil Corporation and gave the company a “buy” rating in a research note on Friday. BidaskClub lowered shares of Marathon Oil Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. KLR Group reaffirmed a “buy” rating and set a $23.00 price objective (up from $21.00) on shares of Marathon Oil Corporation in a research note on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “hold” rating and set a $14.00 price objective (up from $13.00) on shares of Marathon Oil Corporation in a research note on Wednesday, August 9th. Finally, Vetr lowered shares of Marathon Oil Corporation from a “strong-buy” rating to a “buy” rating and set a $14.22 price objective for the company. in a research note on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. Marathon Oil Corporation has a consensus rating of “Hold” and an average price target of $17.42.

Marathon Oil Corporation Company Profile

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.

Institutional Ownership by Quarter for Marathon Oil Corporation (NYSE:MRO)

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