Swiss National Bank Sells 108,400 Shares of Marathon Oil Co. (NYSE:MRO)
Swiss National Bank trimmed its position in Marathon Oil Co. (NYSE:MRO) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,673,697 shares of the oil and gas producer’s stock after selling 108,400 shares during the quarter. Swiss National Bank owned about 0.33% of Marathon Oil worth $37,993,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. NuWave Investment Management LLC increased its holdings in shares of Marathon Oil by 268.8% in the second quarter. NuWave Investment Management LLC now owns 1,763 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 1,285 shares during the last quarter. Semmax Financial Advisors Inc. increased its holdings in shares of Marathon Oil by 181.1% in the first quarter. Semmax Financial Advisors Inc. now owns 1,855 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 1,195 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Marathon Oil in the first quarter worth about $33,000. Osborn Williams & Donohoe LLC bought a new stake in shares of Marathon Oil in the first quarter worth about $34,000. Finally, Liberty Wealth Management LLC bought a new stake in shares of Marathon Oil in the second quarter worth about $33,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.
MRO has been the topic of several analyst reports. Wells Fargo & Co reduced their price objective on Marathon Oil from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. ValuEngine raised Marathon Oil from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Seaport Global Securities reissued a “buy” rating on shares of Marathon Oil in a research note on Friday, June 21st. Capital One Financial raised Marathon Oil from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Finally, Evercore ISI set a $21.00 price objective on Marathon Oil and gave the stock a “hold” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $22.06.
Marathon Oil (NYSE:MRO) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.12. Marathon Oil had a return on equity of 6.32% and a net margin of 16.15%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business earned $0.15 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities analysts predict that Marathon Oil Co. will post 0.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 20th. This represents a $0.20 annualized dividend and a dividend yield of 1.56%. Marathon Oil’s dividend payout ratio (DPR) is presently 28.17%.
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 and International. 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.
Further Reading: Oversold
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