Jennison Associates LLC Sells 1,494,231 Shares of Marathon Oil Corporation (MRO)
Jennison Associates LLC reduced its position in Marathon Oil Corporation (NYSE:MRO) by 98.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 29,468 shares of the oil and gas producer’s stock after selling 1,494,231 shares during the period. Jennison Associates LLC’s holdings in Marathon Oil Corporation were worth $349,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Marathon Oil Corporation by 4,827.5% in the first quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock worth $1,693,396,000 after buying an additional 105,001,815 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Marathon Oil Corporation by 0.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 733,564 shares of the oil and gas producer’s stock worth $8,693,000 after buying an additional 1,905 shares during the period. Ameriprise Financial Inc. raised its stake in Marathon Oil Corporation by 4.7% in the first quarter. Ameriprise Financial Inc. now owns 3,652,037 shares of the oil and gas producer’s stock worth $57,689,000 after buying an additional 164,096 shares during the period. Engineers Gate Manager LP raised its stake in Marathon Oil Corporation by 29.9% in the first quarter. Engineers Gate Manager LP now owns 114,195 shares of the oil and gas producer’s stock worth $1,804,000 after buying an additional 26,295 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in Marathon Oil Corporation by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 3,574,639 shares of the oil and gas producer’s stock worth $56,480,000 after buying an additional 171,406 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.
Marathon Oil Corporation (NYSE MRO) opened at 10.90 on Thursday. The stock’s 50 day moving average is $11.75 and its 200-day moving average is $13.85. The stock’s market capitalization is $9.26 billion. Marathon Oil Corporation has a 12 month low of $10.55 and a 12 month high of $19.28.
Marathon Oil Corporation (NYSE:MRO) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.23) EPS. On average, equities research analysts expect that Marathon Oil Corporation will post ($0.46) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be paid 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 dividend yield of 1.83%. Marathon Oil Corporation’s dividend payout ratio is currently -2.55%.
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Several equities research analysts recently commented on the company. BMO Capital Markets restated a “hold” rating and set a $20.00 target price on shares of Marathon Oil Corporation in a research report on Friday, May 5th. FBR & Co reaffirmed a “buy” rating and set a $20.00 price target on shares of Marathon Oil Corporation in a research note on Friday, May 5th. Scotiabank set a $21.00 price target on Marathon Oil Corporation and gave the stock a “buy” rating in a research note on Saturday, May 6th. Zacks Investment Research downgraded Marathon Oil Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Finally, Bank of America Corporation downgraded Marathon Oil Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $25.00 to $22.00 in a research note on Thursday, May 11th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $17.33.
About Marathon Oil Corporation
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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