Skandinaviska Enskilda Banken AB publ increased its position in shares of Marathon Oil Co. (NYSE:MRO) by 26.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,356 shares of the oil and gas producer’s stock after buying an additional 25,300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Marathon Oil were worth $1,618,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new stake in Marathon Oil in the second quarter worth about $122,000. Zweig DiMenna Associates LLC acquired a new stake in Marathon Oil in the second quarter worth about $150,000. Intact Investment Management Inc. acquired a new stake in shares of Marathon Oil during the third quarter worth about $173,000. Glenview Trust Co lifted its holdings in shares of Marathon Oil by 13.5% during the second quarter. Glenview Trust Co now owns 13,044 shares of the oil and gas producer’s stock worth $155,000 after purchasing an additional 1,550 shares during the period. Finally, Donald L. Hagan LLC acquired a new stake in shares of Marathon Oil during the third quarter worth about $179,000. Hedge funds and other institutional investors own 80.34% of the company’s stock.
MRO has been the subject of a number of research reports. Jefferies Group reaffirmed a “hold” rating and set a $14.00 target price on shares of Marathon Oil in a report on Thursday, October 19th. Royal Bank of Canada set a $16.00 price target on Marathon Oil and gave the company a “hold” rating in a report on Wednesday, October 11th. JPMorgan Chase & Co. upgraded Marathon Oil from an “underweight” rating to a “neutral” rating and set a $15.00 price objective for the company in a research report on Friday, December 15th. Barclays boosted their price objective on Marathon Oil from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 11th. Finally, BMO Capital Markets set a $17.00 price objective on Marathon Oil and gave the company a “hold” rating in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $16.56.
Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.06. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Marathon Oil had a negative return on equity of 3.02% and a negative net margin of 148.07%. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.23) EPS. equities analysts predict that Marathon Oil Co. will post -0.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Wednesday, November 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.18%. Marathon Oil’s dividend payout ratio is currently -2.40%.
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About Marathon Oil
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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