Bank of Nova Scotia raised its holdings in shares of Marathon Oil Corporation (NYSE:MRO) by 181.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,120,792 shares of the oil and gas producer’s stock after acquiring an additional 722,623 shares during the quarter. Bank of Nova Scotia owned approximately 0.13% of Marathon Oil Corporation worth $13,282,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its holdings in Marathon Oil Corporation by 13.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,400,926 shares of the oil and gas producer’s stock valued at $16,601,000 after acquiring an additional 170,989 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Marathon Oil Corporation by 14.0% during the second quarter. Cubist Systematic Strategies LLC now owns 35,557 shares of the oil and gas producer’s stock valued at $421,000 after acquiring an additional 4,354 shares during the period. BlueCrest Capital Management Ltd bought a new stake in Marathon Oil Corporation during the second quarter valued at about $327,000. State Street Corp raised its holdings in Marathon Oil Corporation by 2.8% during the second quarter. State Street Corp now owns 50,063,249 shares of the oil and gas producer’s stock valued at $593,258,000 after acquiring an additional 1,350,863 shares during the period. Finally, Gotham Asset Management LLC bought a new stake in Marathon Oil Corporation during the second quarter valued at about $4,331,000. 80.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Marathon Oil Corporation (NYSE:MRO) traded up 1.579% on Friday, hitting $13.835. The company’s stock had a trading volume of 1,325,160 shares. Marathon Oil Corporation has a one year low of $10.55 and a one year high of $19.28. The stock has a 50-day moving average price of $12.42 and a 200 day moving average price of $13.07. The firm’s market cap is $11.76 billion.
Marathon Oil Corporation (NYSE:MRO) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.03 billion. During the same period last year, the company earned ($0.23) EPS. The business’s quarterly revenue was down 4.0% on a year-over-year basis. Equities research analysts predict that Marathon Oil Corporation will post ($0.44) EPS for the current year.
A number of research firms have commented on MRO. Scotiabank set a $19.00 price target on Marathon Oil Corporation and gave the company a “buy” rating in a report on Wednesday, October 4th. Morgan Stanley raised Marathon Oil Corporation from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $17.00 to $14.00 in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) began coverage on Marathon Oil Corporation in a report on Wednesday, June 28th. They set a “neutral” rating and a $16.00 price target on the stock. Stifel Nicolaus set a $10.00 price target on Marathon Oil Corporation and gave the company a “hold” rating in a report on Thursday, October 5th. Finally, Piper Jaffray Companies set a $20.00 price target on Marathon Oil Corporation and gave the company a “buy” rating in a report on Friday, August 25th. Three investment 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. The company has a consensus rating of “Hold” and a consensus price target of $17.06.
Marathon Oil Corporation 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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