Public Employees Retirement System of Ohio cut its holdings in Marathon Oil Co. (NYSE:MRO) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 311,419 shares of the oil and gas producer’s stock after selling 54,260 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Marathon Oil were worth $4,466,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Macquarie Group Ltd. increased its stake in shares of Marathon Oil by 17.8% during the fourth quarter. Macquarie Group Ltd. now owns 41,766,089 shares of the oil and gas producer’s stock worth $598,926,000 after acquiring an additional 6,298,905 shares during the period. Senator Investment Group LP acquired a new position in Marathon Oil during the third quarter worth about $46,560,000. Morgan Stanley grew its position in Marathon Oil by 93.8% during the third quarter. Morgan Stanley now owns 3,616,531 shares of the oil and gas producer’s stock worth $84,193,000 after buying an additional 1,750,736 shares during the period. Dimensional Fund Advisors LP grew its position in Marathon Oil by 12.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,926,029 shares of the oil and gas producer’s stock worth $171,011,000 after buying an additional 1,328,679 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in Marathon Oil by 1,324.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,332,415 shares of the oil and gas producer’s stock worth $93,000 after buying an additional 1,238,875 shares during the period. Institutional investors own 81.59% of the company’s stock.
Several analysts have issued reports on the stock. Royal Bank of Canada raised shares of Marathon Oil from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $22.00 to $23.00 in a report on Tuesday, April 16th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Marathon Oil in a report on Tuesday, March 5th. Zacks Investment Research downgraded shares of Marathon Oil from a “buy” rating to a “hold” rating in a report on Monday. Capital One Financial downgraded shares of Marathon Oil from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 9th. Finally, Barclays reduced their price target on shares of Marathon Oil from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $23.27.
Marathon Oil (NYSE:MRO) last issued its quarterly earnings results on Wednesday, February 13th. The oil and gas producer reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. Marathon Oil had a net margin of 16.65% and a return on equity of 4.97%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $0.07 earnings per share. Marathon Oil’s revenue for the quarter was up 27.7% compared to the same quarter last year. As a group, equities analysts forecast that Marathon Oil Co. will post 0.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Tuesday, May 14th. Marathon Oil’s payout ratio is currently 28.17%.
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 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.
Further Reading: Cost of equity and a company’s balance sheet
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