Cornerstone Capital Management Holdings LLC. lifted its position in Marathon Oil Co. (NYSE:MRO) by 903.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,781,062 shares of the oil and gas producer’s stock after purchasing an additional 1,603,485 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.21% of Marathon Oil worth $30,152,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MRO. Nationwide Fund Advisors boosted its holdings in shares of Marathon Oil by 7.9% in the third quarter. Nationwide Fund Advisors now owns 1,241,179 shares of the oil and gas producer’s stock valued at $16,830,000 after purchasing an additional 90,989 shares during the period. First Trust Advisors LP boosted its holdings in shares of Marathon Oil by 15.4% in the third quarter. First Trust Advisors LP now owns 399,372 shares of the oil and gas producer’s stock valued at $5,415,000 after purchasing an additional 53,405 shares during the period. State of Wisconsin Investment Board boosted its holdings in shares of Marathon Oil by 17.0% in the third quarter. State of Wisconsin Investment Board now owns 788,262 shares of the oil and gas producer’s stock valued at $10,689,000 after purchasing an additional 114,602 shares during the period. Swiss National Bank boosted its holdings in shares of Marathon Oil by 1.4% in the third quarter. Swiss National Bank now owns 3,129,397 shares of the oil and gas producer’s stock valued at $42,435,000 after purchasing an additional 42,800 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Marathon Oil by 25.7% in the third quarter. Sei Investments Co. now owns 1,017,367 shares of the oil and gas producer’s stock valued at $13,796,000 after purchasing an additional 208,057 shares during the period. Hedge funds and other institutional investors own 81.25% of the company’s stock.
MRO has been the subject of a number of research reports. Bank of America upgraded Marathon Oil from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, January 4th. Jefferies Group reiterated a “hold” rating and issued a $19.80 price target on shares of Marathon Oil in a report on Friday, January 19th. Zacks Investment Research lowered Marathon Oil from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. UBS Group began coverage on Marathon Oil in a report on Wednesday, March 7th. They set a “neutral” rating and a $16.00 target price for the company. Finally, JPMorgan Chase & Co. set a $20.00 target price on Marathon Oil and gave the stock a “hold” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $18.23.
Marathon Oil (NYSE:MRO) last issued its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. Marathon Oil had a negative return on equity of 2.24% and a negative net margin of 120.11%. The business’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) earnings per share. equities research analysts anticipate that Marathon Oil Co. will post 0.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Tuesday, February 20th. Marathon Oil’s payout ratio is presently -2.97%.
Marathon Oil 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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