Marathon Oil Corporation (MRO) Stake Increased by JPMorgan Chase & Co.
JPMorgan Chase & Co. grew its position in Marathon Oil Corporation (NYSE:MRO) by 39.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,709,387 shares of the oil and gas producer’s stock after buying an additional 1,341,589 shares during the period. JPMorgan Chase & Co. owned 0.55% of Marathon Oil Corporation worth $55,805,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in MRO. Integrated Investment Consultants LLC boosted its holdings in shares of Marathon Oil Corporation by 33.8% in the 2nd quarter. Integrated Investment Consultants LLC now owns 9,054 shares of the oil and gas producer’s stock valued at $107,000 after buying an additional 2,287 shares in the last quarter. Dupont Capital Management Corp bought a new stake in shares of Marathon Oil Corporation in the 2nd quarter valued at about $122,000. JFS Wealth Advisors LLC boosted its holdings in shares of Marathon Oil Corporation by 27.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 12,453 shares of the oil and gas producer’s stock valued at $148,000 after buying an additional 2,693 shares in the last quarter. IBM Retirement Fund bought a new stake in shares of Marathon Oil Corporation in the 2nd quarter valued at about $149,000. Finally, Zweig DiMenna Associates LLC bought a new stake in shares of Marathon Oil Corporation in the 2nd quarter valued at about $150,000. Institutional investors and hedge funds own 80.98% of the company’s stock.
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MRO has been the topic of a number of recent analyst reports. Scotiabank set a $19.00 price target on shares of Marathon Oil Corporation and gave the company a “buy” rating in a report on Saturday, July 1st. FBR & Co restated a “buy” rating and issued a $20.00 price target on shares of Marathon Oil Corporation in a report on Tuesday, May 23rd. Citigroup Inc. upgraded shares of Marathon Oil Corporation from a “neutral” rating to a “buy” rating and lowered their price target for the company from $19.00 to $15.00 in a report on Wednesday, July 5th. Vetr cut shares of Marathon Oil Corporation from a “strong-buy” rating to a “buy” rating and set a $14.22 price target on the stock. in a report on Monday, August 7th. Finally, KLR Group restated a “buy” rating and issued a $23.00 price target (up from $21.00) on shares of Marathon Oil Corporation in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.33.
Shares of Marathon Oil Corporation (NYSE MRO) opened at 11.59 on Wednesday. The firm’s market capitalization is $9.85 billion. The firm’s 50-day moving average is $11.63 and its 200 day moving average is $13.47. 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 posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.10). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. Marathon Oil Corporation’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) earnings per share. On average, equities analysts forecast that Marathon Oil Corporation will post ($0.46) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, August 14th. Marathon Oil Corporation’s payout ratio is currently -2.55%.
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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