Wright Investors Service Inc. lessened its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 30.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 43,138 shares of the oil and gas producer’s stock after selling 18,543 shares during the quarter. Wright Investors Service Inc.’s holdings in Marathon Oil were worth $613,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. NuWave Investment Management LLC raised its stake in shares of Marathon Oil by 268.8% in the 2nd quarter. NuWave Investment Management LLC now owns 1,763 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 1,285 shares during the period. Semmax Financial Advisors Inc. raised its stake 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 valued at $31,000 after purchasing an additional 1,195 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of Marathon Oil in the 1st quarter valued at about $33,000. Osborn Williams & Donohoe LLC acquired a new stake in shares of Marathon Oil in the 1st quarter valued at about $34,000. Finally, Liberty Wealth Management LLC acquired a new stake in shares of Marathon Oil in the 2nd quarter valued at about $33,000. 82.19% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. 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. Royal Bank of Canada set a $21.00 price target on Marathon Oil and gave the company a “buy” rating in a research note on Friday, August 9th. Morgan Stanley dropped their price target on Marathon Oil from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Finally, Zacks Investment Research downgraded Marathon Oil from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $22.11.
Marathon Oil (NYSE:MRO) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.12. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Marathon Oil had a return on equity of 6.32% and a net margin of 16.15%. Marathon Oil’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, sell-side analysts forecast that Marathon Oil Co. will post 0.67 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, August 20th. Marathon Oil’s payout ratio is 28.17%.
Marathon Oil Company 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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