American International Group Inc. lessened its position in Marathon Oil Corporation (NYSE:MRO) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 438,410 shares of the oil and gas producer’s stock after selling 47,897 shares during the period. American International Group Inc. owned about 0.05% of Marathon Oil worth $5,945,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of MRO. Macquarie Group Ltd. raised its position in shares of Marathon Oil by 112.6% in the second quarter. Macquarie Group Ltd. now owns 53,832,125 shares of the oil and gas producer’s stock valued at $637,911,000 after buying an additional 28,514,387 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Marathon Oil by 2.1% in the second quarter. Vanguard Group Inc. now owns 86,677,815 shares of the oil and gas producer’s stock valued at $1,027,132,000 after buying an additional 1,808,213 shares during the last quarter. State Street Corp raised its position in shares of Marathon Oil by 2.8% in 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 buying an additional 1,350,863 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Marathon Oil by 39.8% in the second quarter. JPMorgan Chase & Co. now owns 4,709,387 shares of the oil and gas producer’s stock valued at $55,805,000 after buying an additional 1,341,589 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Marathon Oil by 236.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,472,329 shares of the oil and gas producer’s stock valued at $19,965,000 after buying an additional 1,034,170 shares during the last quarter. 80.65% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the stock. BMO Capital Markets restated a “hold” rating and issued a $18.00 target price on shares of Marathon Oil in a report on Tuesday, November 7th. Zacks Investment Research upgraded shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Monday, November 6th. Citigroup downgraded shares of Marathon Oil from a “buy” rating to a “neutral” rating and set a $14.00 target price for the company. in a report on Thursday, November 9th. Scotiabank set a $19.00 target price on shares of Marathon Oil and gave the company a “buy” rating in a report on Monday, November 13th. Finally, Jefferies Group boosted their target price on shares of Marathon Oil from $14.00 to $16.50 and gave the company a “buy” rating in a report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. Marathon Oil presently has a consensus rating of “Hold” and an average target price of $16.90.
Marathon Oil (NYSE:MRO) last announced its earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.06. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.04 billion. Marathon Oil had a negative net margin of 148.07% and a negative return on equity of 3.02%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.23) earnings per share. research analysts predict that Marathon Oil Corporation will post -0.35 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Wednesday, November 15th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.33%. Marathon Oil’s dividend payout ratio (DPR) is presently -2.40%.
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Marathon Oil 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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