Oppenheimer & Co. Inc. Has $689,000 Position in Marathon Oil Corporation (MRO)
Oppenheimer & Co. Inc. lessened its holdings in Marathon Oil Corporation (NYSE:MRO) by 36.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,111 shares of the oil and gas producer’s stock after selling 33,649 shares during the period. Oppenheimer & Co. Inc.’s holdings in Marathon Oil Corporation were worth $689,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in MRO. BlackRock Inc. lifted its position in Marathon Oil Corporation by 4,827.5% during the 1st 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 2nd 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 position in Marathon Oil Corporation during the 2nd quarter worth $122,000. Ameriprise Financial Inc. lifted its position in Marathon Oil Corporation by 4.7% during the 1st 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 position in Marathon Oil Corporation during the 2nd quarter worth $173,000. 80.98% of the stock is owned by institutional investors and hedge funds.
Shares of Marathon Oil Corporation (NYSE:MRO) opened at 11.59 on Wednesday. The company’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 issued its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) EPS for the quarter, missing the 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 quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. On average, analysts anticipate that Marathon Oil Corporation will post ($0.46) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were given 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 presently -2.55%.
A number of research firms have weighed in on MRO. FBR & Co reissued a “buy” rating and set a $20.00 target price on shares of Marathon Oil Corporation in a research report on Tuesday, May 23rd. Scotiabank set a $23.00 target price on shares of Marathon Oil Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 16th. Jefferies Group LLC lowered shares of Marathon Oil Corporation from a “buy” rating to a “hold” rating and cut their target price for the stock from $22.00 to $16.00 in a research report on Wednesday, May 17th. ValuEngine lowered shares of Marathon Oil Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of Marathon Oil Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price 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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