Geode Capital Management LLC raised its position in Marathon Oil Co. (NYSE:MRO) by 10.0% during the fourth quarter, HoldingsChannel reports. The firm owned 12,204,959 shares of the oil and gas producer’s stock after buying an additional 1,111,769 shares during the quarter. Geode Capital Management LLC’s holdings in Marathon Oil were worth $174,746,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc grew its stake in Marathon Oil by 1.0% in the third quarter. Vanguard Group Inc now owns 93,278,037 shares of the oil and gas producer’s stock valued at $2,171,512,000 after purchasing an additional 935,179 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Marathon Oil by 12.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,926,029 shares of the oil and gas producer’s stock valued at $171,011,000 after purchasing an additional 1,328,679 shares in the last quarter. Northern Trust Corp grew its stake in Marathon Oil by 3.6% in the fourth quarter. Northern Trust Corp now owns 11,757,084 shares of the oil and gas producer’s stock valued at $168,597,000 after purchasing an additional 410,807 shares in the last quarter. Standard Life Aberdeen plc grew its stake in Marathon Oil by 12.1% in the fourth quarter. Standard Life Aberdeen plc now owns 6,560,683 shares of the oil and gas producer’s stock valued at $93,785,000 after purchasing an additional 706,847 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Marathon Oil by 3.7% in the third quarter. Legal & General Group Plc now owns 4,488,271 shares of the oil and gas producer’s stock valued at $104,442,000 after purchasing an additional 160,122 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.
A number of brokerages have commented on MRO. Zacks Investment Research downgraded Marathon Oil from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. Barclays lowered their target price on Marathon Oil from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Royal Bank of Canada upgraded Marathon Oil from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $22.00 to $23.00 in a research note on Tuesday, April 16th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Marathon Oil in a research note on Tuesday, March 5th. Finally, TheStreet upgraded Marathon Oil from a “c+” rating to a “b-” rating in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $23.20.
MRO opened at $14.43 on Friday. The stock has a market cap of $11.80 billion, a PE ratio of 20.32, a P/E/G ratio of 2.70 and a beta of 2.23. Marathon Oil Co. has a 52-week low of $12.57 and a 52-week high of $24.20. The company has a quick ratio of 1.45, a current ratio of 1.49 and a debt-to-equity ratio of 0.45.
Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.24. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marathon Oil had a return on equity of 5.80% and a net margin of 15.12%. The firm’s revenue was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. On average, equities research analysts forecast that Marathon Oil Co. will post 0.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.20 annualized dividend and a yield of 1.39%. Marathon Oil’s payout ratio is 28.17%.
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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 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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