Marathon Oil Co. (MRO) Shares Bought by Systematic Financial Management LP
Systematic Financial Management LP increased its stake in shares of Marathon Oil Co. (NYSE:MRO) by 17.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 823,517 shares of the oil and gas producer’s stock after acquiring an additional 124,132 shares during the period. Systematic Financial Management LP’s holdings in Marathon Oil were worth $19,171,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. First Mercantile Trust Co. bought a new position in Marathon Oil during the second quarter worth $111,000. Centaurus Financial Inc. bought a new position in Marathon Oil during the second quarter worth $133,000. Mount Yale Investment Advisors LLC bought a new position in Marathon Oil during the second quarter worth $133,000. Harvest Fund Management Co. Ltd bought a new position in Marathon Oil during the third quarter worth $134,000. Finally, Envestnet Asset Management Inc. boosted its stake in Marathon Oil by 146.5% during the second quarter. Envestnet Asset Management Inc. now owns 6,973 shares of the oil and gas producer’s stock worth $146,000 after acquiring an additional 4,144 shares in the last quarter. 80.15% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. Mizuho assumed coverage on shares of Marathon Oil in a research note on Monday, July 23rd. They set a “neutral” rating and a $28.00 target price on the stock. Zacks Investment Research raised shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Tuesday, July 31st. Morgan Stanley raised their price objective on shares of Marathon Oil from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, September 26th. Royal Bank of Canada set a $27.00 price objective on shares of Marathon Oil and gave the company a “hold” rating in a research note on Thursday, September 20th. Finally, Wells Fargo & Co raised shares of Marathon Oil from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 23rd. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Marathon Oil has a consensus rating of “Buy” and a consensus target price of $23.99.
Marathon Oil (NYSE:MRO) last announced its earnings results on Wednesday, November 7th. The oil and gas producer reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.47 billion. Marathon Oil had a net margin of 10.94% and a return on equity of 4.47%. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Equities research analysts predict that Marathon Oil Co. will post 0.78 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $0.20 annualized dividend and a dividend yield of 1.16%. Marathon Oil’s dividend payout ratio is currently -52.63%.
In other news, VP Thomas Mitchell Little sold 117,333 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $20.69, for a total value of $2,427,619.77. Following the completion of the sale, the vice president now owns 394,569 shares in the company, valued at $8,163,632.61. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.
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About Marathon Oil
Marathon Oil Corporation operates as an energy company in the United States, Equatorial Guinea, the United Kingdom, and Libya. It operates in two segments, United States E&P and International E&P. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.
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