Short Interest in Marathon Oil Corporation (MRO) Drops By 12.6%
Marathon Oil Corporation (NYSE:MRO) saw a large decline in short interest in September. As of September 29th, there was short interest totalling 35,884,554 shares, a decline of 12.6% from the September 15th total of 41,054,389 shares. Approximately 4.2% of the shares of the stock are short sold. Based on an average trading volume of 14,515,219 shares, the days-to-cover ratio is presently 2.5 days.
Marathon Oil Corporation (NYSE MRO) opened at 13.77 on Thursday. 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 $11.70 billion. The stock’s 50 day moving average is $12.75 and its 200 day moving average is $13.01.
Marathon Oil Corporation (NYSE:MRO) last issued its quarterly earnings results 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). Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted ($0.23) earnings per share. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. On average, equities analysts forecast that Marathon Oil Corporation will post ($0.42) earnings per share for the current year.
Several equities research analysts recently commented on MRO shares. Zacks Investment Research raised shares of Marathon Oil Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada set a $16.00 price target on shares of Marathon Oil Corporation and gave the stock a “hold” rating in a report on Wednesday, October 11th. Citigroup Inc. raised shares of Marathon Oil Corporation from a “neutral” rating to a “buy” rating and cut their price target for the stock from $19.00 to $15.00 in a report on Wednesday, July 5th. Scotiabank reissued a “buy” rating and issued a $19.00 price target on shares of Marathon Oil Corporation in a report on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $12.00 price target on shares of Marathon Oil Corporation in a report on Friday, October 6th. Three equities research 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 company presently has a consensus rating of “Hold” and an average target price of $17.10.
A number of large investors have recently modified their holdings of MRO. BlackRock Inc. boosted its stake in Marathon Oil Corporation by 4,827.5% in 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 buying an additional 105,001,815 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Marathon Oil Corporation by 112.6% in the 2nd quarter. Macquarie Group Ltd. now owns 53,832,125 shares of the oil and gas producer’s stock worth $637,911,000 after buying an additional 28,514,387 shares during the last quarter. Vanguard Group Inc. boosted its stake in Marathon Oil Corporation by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 84,869,602 shares of the oil and gas producer’s stock worth $1,340,940,000 after buying an additional 2,870,533 shares during the last quarter. State Street Corp boosted its stake in Marathon Oil Corporation by 2.8% in the 2nd quarter. State Street Corp now owns 50,063,249 shares of the oil and gas producer’s stock worth $593,258,000 after buying an additional 1,350,863 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Marathon Oil Corporation by 39.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,709,387 shares of the oil and gas producer’s stock worth $55,805,000 after buying an additional 1,341,589 shares during the last quarter. 80.81% of the stock is currently owned by hedge funds and other institutional investors.
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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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