Investors Buy Large Volume of Call Options on Marathon Oil Corporation (MRO)
Marathon Oil Corporation (NYSE:MRO) saw unusually large options trading on Monday. Investors acquired 1,294 call options on the company. This is an increase of approximately 127% compared to the average daily volume of 569 call options.
Marathon Oil Corporation (NYSE:MRO) opened at 11.31 on Friday. The company’s 50-day moving average price is $11.64 and its 200 day moving average price is $13.54. The company’s market capitalization is $9.61 billion. Marathon Oil Corporation has a 52 week low of $10.55 and a 52 week high of $19.28.
Marathon Oil Corporation (NYSE:MRO) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.10. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.23) earnings per share. On average, analysts predict that Marathon Oil Corporation will post ($0.45) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.20 annualized dividend and a yield of 1.77%. Marathon Oil Corporation’s dividend payout ratio (DPR) is presently -2.55%.
Hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Marathon Oil Corporation by 4,827.5% during 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 acquiring an additional 105,001,815 shares during the last quarter. Chevy Chase Trust Holdings Inc. lifted its position in Marathon Oil Corporation by 0.3% during 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 acquiring an additional 1,905 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in Marathon Oil Corporation during the second quarter worth approximately $122,000. Ameriprise Financial Inc. lifted its position in Marathon Oil Corporation by 4.7% during 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 acquiring an additional 164,096 shares during the last quarter. Finally, Buckingham Asset Management LLC acquired a new stake in Marathon Oil Corporation during the second quarter worth approximately $173,000. Hedge funds and other institutional investors own 80.98% of the company’s stock.
A number of analysts have weighed in on MRO shares. BMO Capital Markets reaffirmed a “hold” rating and issued a $20.00 price target on shares of Marathon Oil Corporation in a research report on Monday, May 15th. FBR & Co reaffirmed a “buy” rating and issued a $20.00 price target on shares of Marathon Oil Corporation in a research report on Monday, May 15th. Jefferies Group LLC cut Marathon Oil Corporation from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $16.00 in a research report on Wednesday, May 17th. Scotiabank set a $23.00 price target on Marathon Oil Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 16th. Finally, ValuEngine cut Marathon Oil Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Marathon Oil Corporation presently has an average rating of “Hold” and an average price target of $17.33.
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.
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