Virginia Retirement Systems ET AL grew its stake in shares of Marathon Oil Co. (NYSE:MRO) by 14.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 275,243 shares of the oil and gas producer’s stock after acquiring an additional 35,400 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Marathon Oil were worth $6,408,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in MRO. First Mercantile Trust Co. bought a new stake in Marathon Oil during the 2nd quarter worth approximately $111,000. Centaurus Financial Inc. bought a new stake in Marathon Oil during the 2nd quarter worth approximately $133,000. Mount Yale Investment Advisors LLC bought a new stake in Marathon Oil during the 2nd quarter worth approximately $133,000. Harvest Fund Management Co. Ltd bought a new stake in Marathon Oil during the 3rd quarter worth approximately $134,000. Finally, Envestnet Asset Management Inc. raised its stake in Marathon Oil by 146.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 6,973 shares of the oil and gas producer’s stock worth $146,000 after acquiring an additional 4,144 shares during the period. 80.01% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have commented on MRO. JPMorgan Chase & Co. set a $27.00 target price on shares of Marathon Oil and gave the stock a “buy” rating in a research note on Monday, October 1st. They noted that the move was a valuation call. Piper Jaffray Companies restated an “overweight” rating on shares of Marathon Oil in a research note on Friday, September 28th. ValuEngine upgraded shares of Marathon Oil from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Morgan Stanley raised their target price on shares of Marathon Oil from $23.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Finally, Royal Bank of Canada set a $27.00 target price on shares of Marathon Oil and gave the stock a “hold” rating in a research note on Thursday, September 20th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Marathon Oil has a consensus rating of “Buy” and an average target price of $23.99.
Marathon Oil stock opened at $17.84 on Friday. The company has a market cap of $15.81 billion, a PE ratio of -46.95, a P/E/G ratio of 1.52 and a beta of 2.45. The company has a current ratio of 1.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. Marathon Oil Co. has a 1 year low of $14.27 and a 1 year high of $24.20.
Marathon Oil (NYSE:MRO) last released its quarterly earnings data on Wednesday, November 7th. The oil and gas producer reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Marathon Oil had a net margin of 10.94% and a return on equity of 4.48%. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. As a group, analysts anticipate that Marathon Oil Co. will post 0.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, November 20th. Marathon Oil’s payout ratio is currently -52.63%.
In other news, VP Thomas Mitchell Little sold 117,333 shares of Marathon Oil stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $20.69, for a total transaction of $2,427,619.77. Following the sale, the vice president now owns 394,569 shares in the company, valued at $8,163,632.61. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.40% of the company’s stock.
Marathon Oil Company 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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