Westpac Banking Corp increased its stake in Marathon Oil Co. (NYSE:MRO) by 2.4% during the first quarter, Holdings Channel reports. The institutional investor owned 568,986 shares of the oil and gas producer’s stock after buying an additional 13,112 shares during the period. Westpac Banking Corp’s holdings in Marathon Oil were worth $9,508,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Semmax Financial Advisors Inc. boosted its holdings in shares of Marathon Oil by 181.1% in the 1st quarter. Semmax Financial Advisors Inc. now owns 1,855 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 1,195 shares during the last quarter. Executive Wealth Management LLC purchased a new position in shares of Marathon Oil in the 4th quarter worth about $27,000. Osborn Williams & Donohoe LLC purchased a new position in shares of Marathon Oil in the 1st quarter worth about $34,000. JNBA Financial Advisors purchased a new position in shares of Marathon Oil in the 4th quarter worth about $29,000. Finally, Moody National Bank Trust Division boosted its holdings in shares of Marathon Oil by 148.7% in the 1st quarter. Moody National Bank Trust Division now owns 2,873 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 1,718 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Marathon Oil from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. Barclays lowered their price objective on Marathon Oil from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Royal Bank of Canada upgraded Marathon Oil from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $22.00 to $23.00 in a research note on Tuesday, April 16th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Marathon Oil in a research note on Tuesday, March 5th. Finally, TheStreet upgraded Marathon Oil from a “c+” rating to a “b-” rating in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Marathon Oil currently has an average rating of “Buy” and an average price target of $22.65.
Marathon Oil (NYSE:MRO) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.24. Marathon Oil had a return on equity of 5.80% and a net margin of 15.12%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the business posted $0.18 EPS. The firm’s quarterly revenue was down 30.9% compared to the same quarter last year. Equities research analysts forecast that Marathon Oil Co. will post 0.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, May 14th. Marathon Oil’s dividend payout ratio is presently 28.17%.
Marathon Oil Profile
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.
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