Alyeska Investment Group L.P. Invests $81.11 Million in Marathon Oil Co. (MRO)
Alyeska Investment Group L.P. purchased a new position in shares of Marathon Oil Co. (NYSE:MRO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,981,830 shares of the oil and gas producer’s stock, valued at approximately $81,114,000. Alyeska Investment Group L.P. owned approximately 0.70% of Marathon Oil at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Marathon Oil by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 86,677,815 shares of the oil and gas producer’s stock worth $1,027,132,000 after acquiring an additional 1,808,213 shares during the period. Macquarie Group Ltd. lifted its holdings in Marathon Oil by 1.3% during the 3rd quarter. Macquarie Group Ltd. now owns 54,525,491 shares of the oil and gas producer’s stock worth $739,367,000 after purchasing an additional 693,366 shares in the last quarter. State Street Corp lifted its holdings in Marathon Oil by 2.8% during 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 purchasing an additional 1,350,863 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Marathon Oil by 10.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 41,191,926 shares of the oil and gas producer’s stock valued at $558,563,000 after buying an additional 3,767,268 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Marathon Oil by 0.5% during the 2nd quarter. Franklin Resources Inc. now owns 35,334,271 shares of the oil and gas producer’s stock valued at $418,709,000 after buying an additional 172,691 shares in the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.
Several equities analysts recently issued reports on MRO shares. Morgan Stanley set a $15.00 price target on Marathon Oil and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Jefferies Group boosted their price target on Marathon Oil from $14.00 to $16.50 and gave the stock a “buy” rating in a research note on Friday, November 3rd. BMO Capital Markets set a $17.00 price target on Marathon Oil and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Scotiabank set a $19.00 price objective on Marathon Oil and gave the stock a “buy” rating in a report on Wednesday, October 4th. Finally, Societe Generale raised Marathon Oil from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $16.90.
Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.06. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.04 billion. Marathon Oil had a negative return on equity of 3.02% and a negative net margin of 148.07%. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.23) EPS. analysts forecast that Marathon Oil Co. will post -0.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.36%. Marathon Oil’s payout ratio is currently -2.40%.
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Marathon Oil 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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