Marathon Oil Corporation (NYSE:MRO) Stake Increased by Sumitomo Life Insurance Co.
Sumitomo Life Insurance Co. raised its position in Marathon Oil Corporation (NYSE:MRO) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,802 shares of the oil and gas producer’s stock after buying an additional 3,152 shares during the period. Sumitomo Life Insurance Co.’s holdings in Marathon Oil Corporation were worth $886,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of MRO. Eastern Bank acquired a new position in shares of Marathon Oil Corporation during the first quarter worth $337,000. Bank of Montreal Can boosted its stake in Marathon Oil Corporation by 91.1% in the first quarter. Bank of Montreal Can now owns 2,091,771 shares of the oil and gas producer’s stock valued at $33,050,000 after buying an additional 997,175 shares during the last quarter. Longer Investments Inc. purchased a new stake in Marathon Oil Corporation during the first quarter valued at approximately $1,614,000. National Pension Service purchased a new stake in Marathon Oil Corporation during the first quarter valued at approximately $12,622,000. Finally, Gulf International Bank UK Ltd boosted its stake in Marathon Oil Corporation by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 261,245 shares of the oil and gas producer’s stock valued at $4,127,000 after buying an additional 3,900 shares during the last quarter. 81.28% of the stock is owned by institutional investors and hedge funds.
Shares of Marathon Oil Corporation (NYSE:MRO) traded up 0.58% during trading on Friday, reaching $12.12. 11,705,821 shares of the company’s stock were exchanged. The company has a 50 day moving average of $11.92 and a 200 day moving average of $14.28. Marathon Oil Corporation has a 52-week low of $11.20 and a 52-week high of $19.28. The firm’s market capitalization is $10.30 billion.
Marathon Oil Corporation (NYSE:MRO) last posted its 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 net margin of 140.22% and a negative return on equity of 2.86%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted ($0.23) earnings per share. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts anticipate that Marathon Oil Corporation will post ($0.45) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.65%. Marathon Oil Corporation’s payout ratio is presently -2.55%.
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Several research firms have commented on MRO. Vetr raised shares of Marathon Oil Corporation from a “buy” rating to a “strong-buy” rating and set a $18.08 target price for the company in a research note on Friday, April 14th. Barclays PLC reaffirmed a “hold” rating and issued a $15.00 target price (down from $17.00) on shares of Marathon Oil Corporation in a research note on Thursday, April 20th. Bank of America Corporation cut shares of Marathon Oil Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $22.00 in a research note on Thursday, May 11th. Zacks Investment Research cut shares of Marathon Oil Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $20.00 target price on shares of Marathon Oil Corporation in a research note on Tuesday, May 23rd. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $17.30.
About Marathon Oil Corporation
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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