State Board of Administration of Florida Retirement System Increases Holdings in Marathon Oil Co. (MRO)

State Board of Administration of Florida Retirement System raised its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,247,591 shares of the oil and gas producer’s stock after buying an additional 1,506 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Marathon Oil were worth $17,890,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Legacy Financial Advisors Inc. purchased a new stake in Marathon Oil during the fourth quarter valued at approximately $25,000. We Are One Seven LLC purchased a new stake in Marathon Oil during the fourth quarter valued at approximately $42,000. Gemmer Asset Management LLC increased its holdings in Marathon Oil by 197.4% during the fourth quarter. Gemmer Asset Management LLC now owns 4,104 shares of the oil and gas producer’s stock valued at $59,000 after buying an additional 2,724 shares during the last quarter. Ipswich Investment Management Co. Inc. purchased a new stake in Marathon Oil during the fourth quarter valued at approximately $62,000. Finally, Csenge Advisory Group purchased a new stake in Marathon Oil during the third quarter valued at approximately $92,000. 81.00% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:MRO opened at $15.13 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 1.38. Marathon Oil Co. has a fifty-two week low of $12.57 and a fifty-two week high of $24.20. The firm has a market cap of $12.69 billion, a P/E ratio of -39.82, a P/E/G ratio of 2.53 and a beta of 2.22.

Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, November 7th. The oil and gas producer reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. Marathon Oil had a net margin of 10.94% and a return on equity of 4.47%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Marathon Oil’s revenue for the quarter was up 33.1% on a year-over-year basis. Research analysts anticipate that Marathon Oil Co. will post 0.7 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Wednesday, February 20th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, February 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.32%. Marathon Oil’s dividend payout ratio is -52.63%.

MRO has been the subject of a number of research reports. TheStreet raised shares of Marathon Oil from a “c” rating to a “b-” rating in a report on Wednesday, November 7th. Barclays set a $25.00 price objective on shares of Marathon Oil and gave the stock a “buy” rating in a research note on Friday, October 26th. Zacks Investment Research raised shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, October 24th. Piper Jaffray Companies reissued a “buy” rating and issued a $35.00 price objective on shares of Marathon Oil in a research note on Wednesday, October 24th. Finally, Mizuho raised shares of Marathon Oil from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $28.00 to $27.00 in a research note on Friday, October 19th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $23.99.

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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 E&P and International E&P. 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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Institutional Ownership by Quarter for Marathon Oil (NYSE:MRO)

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