State Treasurer State of Michigan Cuts Stake in Marathon Oil Corporation (MRO)

State Treasurer State of Michigan lessened its holdings in Marathon Oil Corporation (NYSE:MRO) by 7.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 257,940 shares of the oil and gas producer’s stock after selling 21,400 shares during the period. State Treasurer State of Michigan’s holdings in Marathon Oil Corporation were worth $3,498,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in shares of Marathon Oil Corporation by 71.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 126,112 shares of the oil and gas producer’s stock valued at $1,709,000 after acquiring an additional 52,542 shares during the period. Wendell David Associates Inc. purchased a new position in shares of Marathon Oil Corporation in the 3rd quarter valued at $600,000. Mutual of America Capital Management LLC raised its stake in shares of Marathon Oil Corporation by 6.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 109,225 shares of the oil and gas producer’s stock valued at $1,481,000 after acquiring an additional 6,367 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in shares of Marathon Oil Corporation in the 3rd quarter valued at $231,000. Finally, Shell Asset Management Co. raised its stake in shares of Marathon Oil Corporation by 90.6% in the 3rd quarter. Shell Asset Management Co. now owns 102,066 shares of the oil and gas producer’s stock valued at $3,837,000 after acquiring an additional 48,505 shares during the period. 81.08% of the stock is currently owned by institutional investors and hedge funds.

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MRO has been the topic of several analyst reports. Zacks Investment Research raised shares of Marathon Oil Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $14.00 price target on shares of Marathon Oil Corporation in a research note on Thursday, October 19th. Royal Bank Of Canada set a $16.00 price target on shares of Marathon Oil Corporation and gave the stock a “hold” rating in a research note on Wednesday, October 11th. Citigroup Inc. raised shares of Marathon Oil Corporation from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $19.00 to $15.00 in a research note on Wednesday, July 5th. Finally, Scotiabank reaffirmed a “buy” rating and set a $19.00 price target on shares of Marathon Oil Corporation in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $17.19.

Marathon Oil Corporation (NYSE:MRO) opened at 13.81 on Monday. The stock has a 50 day moving average of $13.17 and a 200 day moving average of $12.91. Marathon Oil Corporation has a 12-month low of $10.55 and a 12-month high of $19.28. The firm’s market capitalization is $11.74 billion.

Marathon Oil Corporation (NYSE:MRO) last announced 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). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.23) EPS. Equities research analysts anticipate that Marathon Oil Corporation will post ($0.45) earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, November 14th. Marathon Oil Corporation’s dividend payout ratio is currently -2.55%.

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

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