Financial Engines Advisors L.L.C. Reduces Stake in Marathon Oil Corporation (MRO)

Financial Engines Advisors L.L.C. cut its position in Marathon Oil Corporation (NYSE:MRO) by 10.0% during the second quarter, Holdings Channel reports. The fund owned 29,798 shares of the oil and gas producer’s stock after selling 3,294 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Marathon Oil Corporation were worth $353,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MRO. State of Alaska Department of Revenue acquired a new stake in Marathon Oil Corporation during the first quarter worth approximately $247,000. First Hawaiian Bank acquired a new stake in Marathon Oil Corporation during the first quarter worth approximately $161,000. Oakbrook Investments LLC increased its stake in Marathon Oil Corporation by 64.6% in the first quarter. Oakbrook Investments LLC now owns 70,850 shares of the oil and gas producer’s stock worth $1,119,000 after buying an additional 27,800 shares during the last quarter. Ledyard National Bank increased its stake in Marathon Oil Corporation by 188.5% in the first quarter. Ledyard National Bank now owns 23,510 shares of the oil and gas producer’s stock worth $371,000 after buying an additional 15,360 shares during the last quarter. Finally, Hartford Financial Management Inc. increased its stake in Marathon Oil Corporation by 14.4% in the first quarter. Hartford Financial Management Inc. now owns 24,282 shares of the oil and gas producer’s stock worth $383,000 after buying an additional 3,051 shares during the last quarter. Institutional investors and hedge funds own 81.28% of the company’s stock.

Shares of Marathon Oil Corporation (NYSE MRO) opened at 12.05 on Friday. The company’s market capitalization is $10.24 billion. The firm has a 50-day moving average of $11.90 and a 200 day moving average of $14.32. Marathon Oil Corporation has a 52-week low of $11.20 and a 52-week high of $19.28.

Marathon Oil Corporation (NYSE:MRO) last issued 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. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. Marathon Oil Corporation’s revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) earnings per share. On average, analysts anticipate that Marathon Oil Corporation will post ($0.45) EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.66%. Marathon Oil Corporation’s dividend payout ratio is currently -2.55%.

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A number of research firms recently commented on MRO. BMO Capital Markets reiterated a “hold” rating and issued a $17.00 target price on shares of Marathon Oil Corporation in a report on Thursday, April 13th. Vetr upgraded shares of Marathon Oil Corporation from a “buy” rating to a “strong-buy” rating and set a $18.08 target price on the stock in a report on Friday, April 14th. Barclays PLC reiterated a “hold” rating and issued a $15.00 target price (down from $17.00) on shares of Marathon Oil Corporation in a report on Thursday, April 20th. Bank of America Corporation downgraded shares of Marathon Oil Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $22.00 in a report on Thursday, May 11th. Finally, Zacks Investment Research downgraded shares of Marathon Oil Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $17.30.

Marathon Oil Corporation Company 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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Institutional Ownership by Quarter for Marathon Oil Corporation (NYSE:MRO)

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