Investors Purchase High Volume of Put Options on Marathon Oil Corporation (MRO)
Marathon Oil Corporation (NYSE:MRO) saw some unusual options trading activity on Monday. Stock traders purchased 336 put options on the company. This represents an increase of 102% compared to the typical daily volume of 166 put options.
MRO has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Marathon Oil Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Citigroup Inc. upgraded shares of Marathon Oil Corporation from a “neutral” rating to a “buy” rating and cut their target price for the company from $19.00 to $15.00 in a research report on Wednesday, July 5th. Scotiabank restated a “buy” rating and set a $19.00 target price on shares of Marathon Oil Corporation in a research report on Thursday, August 3rd. Vetr downgraded shares of Marathon Oil Corporation from a “strong-buy” rating to a “buy” rating and set a $14.22 target price on the stock. in a research report on Monday, August 7th. Finally, Jefferies Group LLC set a $12.00 target price on shares of Marathon Oil Corporation and gave the company a “hold” rating in a research report on Tuesday, August 29th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $17.33.
Shares of Marathon Oil Corporation (NYSE:MRO) opened at 13.90 on Thursday. Marathon Oil Corporation has a 1-year low of $10.55 and a 1-year high of $19.28. The company’s market capitalization is $11.81 billion. The company’s 50-day moving average price is $11.95 and its 200-day moving average price is $13.12.
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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.10). Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm posted ($0.23) earnings per share. Marathon Oil Corporation’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities analysts expect that Marathon Oil Corporation will post ($0.46) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Monday, August 14th. Marathon Oil Corporation’s dividend payout ratio (DPR) is presently -2.55%.
A number of institutional investors and hedge funds have recently modified their holdings of MRO. American Century Companies Inc. acquired a new position in Marathon Oil Corporation in the first quarter valued at approximately $310,000. UBS Asset Management Americas Inc. lifted its stake in Marathon Oil Corporation by 3.9% in the first quarter. UBS Asset Management Americas Inc. now owns 3,397,947 shares of the oil and gas producer’s stock valued at $53,688,000 after buying an additional 126,247 shares during the period. Pacer Advisors Inc. lifted its stake in Marathon Oil Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 16,177 shares of the oil and gas producer’s stock valued at $256,000 after buying an additional 517 shares during the period. KBC Group NV lifted its stake in Marathon Oil Corporation by 2.2% in the first quarter. KBC Group NV now owns 79,950 shares of the oil and gas producer’s stock valued at $1,263,000 after buying an additional 1,708 shares during the period. Finally, Thomas White International Ltd. acquired a new position in Marathon Oil Corporation in the first quarter valued at approximately $729,000. 80.98% of the stock is currently owned by hedge funds and other institutional investors.
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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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